Ninjastic
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Board Hardware wallets
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Re: Safepal,Ledger,Trezor keep a backup of my 24 words and transfer to their server?
by
Charles-Tim
on 16/06/2021, 08:06:50 UTC
⭐ Merited by The Pharmacist (4)
Everything about Trezor is open source, and some companies gmhaw been searching for vulnerabilities on the hardware wallet, the one I remembered is that physical attack on Trezor can result to the seed phrase to be known, but will be as a result of the hardware wallet theft and physical attack on the wallet, and this problem can be solved by protecting Trezor with passphrase. No evidence proven yet that it can reveal your seed phrase to the server, infact, it is not, and the wallet is completely open source.

About Ledger Nano, it can be operated with open source wallets also like electrum, but only what I do not like about the wallet is the close source microchip used to generate and source seed phrase which is close souce, so if their is vulnerability included into the microchip like preventation if seed phrase, people will not know, but the company still maintain good reputation till today. But, yet, the microchip help in geneting the seed phrase, and also store it. It makes even physical attack on the seed phrase not to be known. Know evidence of your seed phrase to be exposed to he server too while using it.

About SafePal, I can not recommend such wallet, I am not implying it reveals any seed phrase, but the wallet is completely close source, it can only be used with an app on phone, the app is not even open source (correct me if wrong), so I am not furthering my discussion on SafePal.

Even many reputed wallets which are online like Electrum, Mycelium  and some others are not revealing your seed phrase to the server, so even hardware wallets are more safer in which they store seed phrase in a way it does not even leave the hardware wallet, which makes it difficult for hackers to get through unlike on online wallets. What you should focus on are malwares and protect your device used operate your hardware wallet, especially against QR code malware and also a malware that can change receiver's address into an hackers (attacker) address while sending bitcoin, this even happen without your seed phrase revealed but can lead to coin lost.