Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
garytheasshole
on 23/02/2018, 16:10:39 UTC
I mean how much risk are you comfortable with 100xmr, 1000, 10?


That is a VERY good question.  


The way I see it currently we have two choices coming:

1.  Ledger:  Established company.  Hardware proven.  Track record of handling security issues well etc.
2.  Monero proprietary wallet.  Based on FOS design, specific to XMR.


I think BOTH devices share a common risk.  And that is you want to make sure there is no way for your funds to be stolen with some sort of attack.  Either on the hardware, or in between the HW and the SW on the computer.  

The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).

I bought a Ledger, and I have not decided how much I am willing to risk there.

  

I recently bought a Ledger as well - mainly in hopes of moving some xmr over.

However, now I'm leaning towards just putting linux on a usb stick with a wallet there? Is there really that great of a security benefit for ledger vs a wallet on a usb stick? I'm just going to throw both in the fire safe.
For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com