Not for cold storage. If your signing device can't show you the transaction details that it's about to sign, then you have no way to confirm that the transaction isn't sweeping your entire wallet somewhere else.
Discussion
You can pair a hardware signing device with Nunchuk that does have a display (like a Coldcard or Blockstream Jade), and verify the details of the transaction before signing. You can also pair multiple hardware with Nunchukm and create a multisig wallet, which offers superior security and robustness compared to a singlesig wallet.
In the above setup, Nunchuk only acts as a watch-only wallet coordinator. So yes, 100% Nunchuk can be used for cold storage. And many of our users have done so.
We also have a Decoy Wallet feature that’d give you plausible deniability.
We also have a Decoy Wallet feature that gives you plausible deniability. Check it out here:
Yeah, I'm specifically referring to the tapsigner setup being referenced in this thread. And, I'm not trying to imply I think Nunchuk would intentionally do anything malevolent. But, with all due respect "Nunchuk only acts as a watch-only wallet coordinator" doesn't guarantee that Nunchuk is asking the tapsigner to sign the transaction that you think it is.
Got it, thanks for the clarification.
Yes, for cold storage you might not want to only use Tapsigners (although, even a Tapsigner-only multisig would still be better than something like Bitkey, which is a closed system). As long as you have at least one hardware in your multisig quorum that has a display and can verify transactions independently, it’s a solid setup.