Post
Topic
Board Altcoin Discussion
Re: Risk of hardware wallets for alt coins & lost coins on recovery
by
passwordnow
on 07/11/2024, 18:56:58 UTC
Looking at hardware wallets for alt coins, read in a few places various hardware wallets have lost holdings upon recovery.

Maybe its FUD maybe its real, but assuming its real & not wallet theft how could this happen if the holdings are on the relevant blockchain?

I mean if i had a tangem or SafePal wallet for example with multiple coins, Kaspa, Render, beam, cardano etc.. and i had to reset the app or recover via seed option (avail now on tangem) would i get exactly the same amount of each coin back? if not where would they go?
It won't go away if you don't move or transfer them. If you have generated a seed and from that seed, there's the wallet where you have deposited those altcoins then it won't be going elsewhere.

Its an issue with these app based cold wallets, sooner or later you`ll get on a plane, walk up a mountain or just out of an internet reception area or the app will just freeze & need re-setting after a while so can these things be trusted long term?
If th app is just freezing, as long as it's not moved you can check it on the blockchain for that address and see that nothing has changed. Not unless, you're hacked, you personally moved it then it stays where it is.