Ledger Nano & Blue - Remember: everything can be hacked

[Guest]

ArsTechnica:

A “tamper-proof” currency wallet just got backdoored by a 15-year-old

Or if Krebs is more your speed:

15-Year-old Finds Flaw in Ledger Crypto Wallet

This is just a reminder that anything which claims to be unbreakable should get the side-eye, and your data (or coins) are only as safe as the next mistake made by you or the developer.

[XRPto50dollars]

5 hours ago, Scott said:

This is just a reminder that anything which claims to be unbreakable should get the side-eye, and your data (or coins) are only as safe as the next mistake made by you or the developer.

This was posted a couple times, but thanks for the reminder. As new topics appear, older ones disappear into oblivion. 

The whole modern concept of keeping your keys secure is ridiculous. All that needs to happen is have your exchange email you a code, text your phone a code, and deposit a temporary, random amount of money into your bank account. Then, mail your keys, encrypted, to your house in the regular mail. The two codes and your deposit act as a decipher. Use a standard chart online to manually decipher the encrypted keys.. and boom... no stupid Nano S, no secure element which can be hacked by a 15 year old. 

If any of the three steps above dont match, you know something is wrong. 

of course.. this will never happen because its not high tech. 

I am 100% convinced many many people will make millions off XRP, only to lose everything from devices such as the Nano, Trezor, and whatever else claims to be 'unbreakable'.

Edited March 22, 2018 by XRPto50dollars

[Dymac]

13 hours ago, XRPto50dollars said:

 

I am 100% convinced many many people will make millions off XRP, only to lose everything from devices such as the Nano, Trezor, and whatever else claims to be 'unbreakable'.

What do you think is the best option for storing XRP then? 

[XRPto50dollars]

11 hours ago, Dymac said:

What do you think is the best option for storing XRP then? 

Redundancy. The amount of XRP owned is unimportant. Simply divide your amount by 3, and store 1/3 on a Nano or Trezor, 1/3 on your exchange, and 1/3 on something else. Even if someone only owns 500. Store 166 on three separate devices.

The chances of all three features failing is extremely minimal. By doing so, even if you lose 2/3 of your XRP, you still have 1/3 remaining. 

Edited March 23, 2018 by XRPto50dollars

[CrypToe]

Is the ledger blue any safer than the nano - would it be wiser to store my xrp on the blue as opposed to the nano - anyone know?

[XRPto50dollars]

On 4/15/2018 at 11:38 AM, CrypToe said:

Is the ledger blue any safer than the nano - would it be wiser to store my xrp on the blue as opposed to the nano - anyone know?

No. Just more fancy.