⭐ Merited by o_e_l_e_o (4)
Thank you for the replies, perhaps I asked the wrong question. Let me elaborate:
Simple trick: Buy another hardware wallet and restore all your coins easily (with the seedphrase ofc)
I understand how to use a recovery phrase with the same hardware wallet and how it works.
My question was aimed at the "not able to spend from that hardware wallet itself" as I heard about an instance where one alt was DNS for a few days from a known issue, with the software, for the hardware wallet which was fixed later by the company. So this is more of a case where none of the hardware wallets from that company would work due to a software issue. Buying a new piece of hardware would not have fixed this issue after importing seeds.
I'm not sure what would cause this or the mechanics behind it, which is why I am asking. It could be a non issue but I wanted to be sure.
So when you say self custodial wallet do you mean the same hardware wallet? In this case that would not work. It was a software issue. If I had to guess I do not think the hardware wallet seed would work with a QT wallet, but I am unsure. Maybe something like electrum if it were Bitcoin?
Not an emergency at all.
Thanks for answering the electrum question before I posted. Also, I understand no coins are effected but I was unsure how to access them in the case I mentioned above.
Basically, I was trying to decide if I should advise people to use a hardware wallet versus QT wallets in a faraday cage.
But if we can import the seeds into a different brand of hardware wallet it's a non issue in this instance. It seems unlikely that all HW companies would get nuked at once, AND anybody would survive.
However, could this be an attack vector? AKA a government shuts down all the companies? Confiscates/corrupts all the software?
If so a QT in a faraday might be better?
Strange question but but here goes.
Its not a strange question, but yeah it looks weird when such questions come from a sr. member.Will I still be able to access all my crypto? If so how?
Any hardware wallet company doesnt have access to your coins, in any case if you are not able to spend from that hardware wallet itself (for any reason), you can import your seed in any other compatible wallet and spend your crypto from there. For e.g. if you got dogecoin and 14 other cryptos, and you want to send doge, just import the seed it in any self custodial dogecoin wallet and you're done. Do the same for rest of the crypto coins, i.e., import the same seed in their respective compatible wallets.Simple trick: Buy another hardware wallet and restore all your coins easily (with the seedphrase ofc)
I understand how to use a recovery phrase with the same hardware wallet and how it works.
My question was aimed at the "not able to spend from that hardware wallet itself" as I heard about an instance where one alt was DNS for a few days from a known issue, with the software, for the hardware wallet which was fixed later by the company. So this is more of a case where none of the hardware wallets from that company would work due to a software issue. Buying a new piece of hardware would not have fixed this issue after importing seeds.
I'm not sure what would cause this or the mechanics behind it, which is why I am asking. It could be a non issue but I wanted to be sure.
So when you say self custodial wallet do you mean the same hardware wallet? In this case that would not work. It was a software issue. If I had to guess I do not think the hardware wallet seed would work with a QT wallet, but I am unsure. Maybe something like electrum if it were Bitcoin?
It is nothing like emergency, you have your hardware wallet like Trezor which you can even access with different wallet software like Electrum for bitcoin, Metamask for ERC20 etc, even if the official software of the wallet is outdated, you can use other reputable software wallets to spend your coins. Not that your wallet is stolen, just that the company that produces it is no more existing, which makes this not to be an emergency.
Know that it is your coin, you control the keys, not the company that produces the hardware wallet, you have full control over it. Because the company is affected, that does not mean your coin is affected.
As time goes on, you may later decide to continue to use the hardware wallet or not, but it is nothing that require emergency of buying another hardware wallet immediately.
Know that it is your coin, you control the keys, not the company that produces the hardware wallet, you have full control over it. Because the company is affected, that does not mean your coin is affected.
As time goes on, you may later decide to continue to use the hardware wallet or not, but it is nothing that require emergency of buying another hardware wallet immediately.
Not an emergency at all.
Thanks for answering the electrum question before I posted. Also, I understand no coins are effected but I was unsure how to access them in the case I mentioned above.
Basically, I was trying to decide if I should advise people to use a hardware wallet versus QT wallets in a faraday cage.
But if we can import the seeds into a different brand of hardware wallet it's a non issue in this instance. It seems unlikely that all HW companies would get nuked at once, AND anybody would survive.
However, could this be an attack vector? AKA a government shuts down all the companies? Confiscates/corrupts all the software?
If so a QT in a faraday might be better?