XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 6 minutes ago, Baka said: Is it dangerous to keep all my coins on bittrex for exemple ? i don't have much but should i get a ledger nano S? difficult to say. we're all early investors here. in several years, youll probably be able to buy them and transfer straight to a bank. in the meantime, there will be growing pains. Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 25 minutes ago, Baka said: Is it dangerous to keep all my coins on bittrex for exemple ? i don't have much but should i get a ledger nano S? Zerps are getting more valuable all the time. At some point you might worry about them. Link to comment Share on other sites More sharing options...
XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 26 minutes ago, XRPto50dollars said: i don't have much but should i get a ledger nano S? before/while youre getting one, research how to use it. Link to comment Share on other sites More sharing options...
OstrichJouster Posted December 29, 2017 Author Share Posted December 29, 2017 (edited) 9 minutes ago, XRPto50dollars said: before/while youre getting one, research how to use it. Agree. It took me several months to buy one. I thought I had it completely figured until the update came and ‘one-bombed’ me! I imagine they are 99.9% safe on certain exchanges - bitstamp being the best IMO. But for your own sanity I’d suggest researching the benefits of cold storage @Baka Edited December 29, 2017 by OstrichJouster Link to comment Share on other sites More sharing options...
XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 can someone 'mess up' when configuring the Nano and actually lose it all in the blink of an eye? thats my concern. Link to comment Share on other sites More sharing options...
OstrichJouster Posted December 29, 2017 Author Share Posted December 29, 2017 4 minutes ago, XRPto50dollars said: can someone 'mess up' when configuring the Nano and actually lose it all in the blink of an eye? thats my concern. I don’t think so in regard to configuration, if you follow the step by step guide.. Always an element of human error though! Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 8 minutes ago, XRPto50dollars said: can someone 'mess up' when configuring the Nano and actually lose it all in the blink of an eye? thats my concern. Only if you do a send to the wrong address. All the Nano does is manage the private key - the zerps are recorded in the public ledger - that is the boss. XRPto50dollars 1 Link to comment Share on other sites More sharing options...
XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 so if someone messes up with the chrome extension or the othe r things, you can just reset it and start over? Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 Just now, XRPto50dollars said: so if someone messes up with the chrome extension or the othe r things, you can just reset it and start over? If you enter the wrong pin 3 times it erases it. Link to comment Share on other sites More sharing options...
XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 thanks. and if that happens, you just use the 24 word seed to recover? couldnt someone if they wanted purposely input it wrong 3 times to erase it?? Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 7 minutes ago, XRPto50dollars said: thanks. and if that happens, you just use the 24 word seed to recover? couldnt someone if they wanted purposely input it wrong 3 times to erase it?? Sure. If you have a big pile of zerps, not a bad idea to test the 24 word seed on a 2nd Nano to make certain. Then get the 24 words hidden away. XRPto50dollars 1 Link to comment Share on other sites More sharing options...
XRPto50dollars Posted December 29, 2017 Share Posted December 29, 2017 (edited) if anyone can answer this id appreciate it: the only thing i really dont get about the nano is how it can work offline. i understand XRPs dont actually get stored on it, i think its more like an authorization to allow a transaction to occur. But, if someone is ready to take XRP off an exchange, like bitstamp and have the key stored on the Nano.. ....how does the nano connect the key to itself and the 24 word seed and the public address if its not online?? also.. is the Nano plugged in when putting in the 3 digit pin??? some people say yes others say no Edited December 29, 2017 by XRPto50dollars Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 1 minute ago, XRPto50dollars said: if anyone can answer this id appreciate it: the only thing i really dont get about the nano is how it can work offline. i understand XRPs dont actually get stored on it, i think its more like an authorization to allow a transaction to occur. But, if someone is ready to take XRP off an exchange, like bitstamp and have the key stored on the Nano.. ....how does the nano connect the key to itself and the 24 word seed and the public address if its not online?? You would send zerps to your Ripple address. Once that happens it is recorded on the public ledger. The Nano need not be plugged in at all. When you fire up the Nano and open the app, the public ledger is queried and you see your zerps. All you need do is run through it once at it makes sense. Link to comment Share on other sites More sharing options...
Baka Posted December 29, 2017 Share Posted December 29, 2017 46 minutes ago, XRPto50dollars said: before/while youre getting one, research how to use it. hence the reason why i still didnt get one ^^i'll make more research Link to comment Share on other sites More sharing options...
John_Buh Posted December 29, 2017 Share Posted December 29, 2017 3 minutes ago, XRPto50dollars said: if anyone can answer this id appreciate it: the only thing i really dont get about the nano is how it can work offline. i understand XRPs dont actually get stored on it, i think its more like an authorization to allow a transaction to occur. But, if someone is ready to take XRP off an exchange, like bitstamp and have the key stored on the Nano.. ....how does the nano connect the key to itself and the 24 word seed and the public address if its not online?? also.. is the Nano plugged in when putting in the 3 digit pin??? some people say yes others say no The Nano gets its power from the USB connection so it must be plugged in to enter the pin. Link to comment Share on other sites More sharing options...
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