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RE: What Is The Best Hardware Wallet? - Ledger VS Trezor

in #bitcoin6 years ago

Could you please explain how hard wallet works. Because I heard some refer to it – you got you coins stored on the hardware wallet; but i was under the impression that it stores only the private keys. It’s kind of hard to understand for newbies. If I lose the tresor/nano wallet but have my private keys written down will i be able to access the funds? and where i would go in this case to enter the wallet, some url/app? or it’s impossible to have a paper copy of your private keys if you use hard wallet? may be you have or can create an article for that topic, I think it will be usefull for many people. and is it hard to update firmware on them? what happens if the wallet gets water damage/or stops being recognized by a computer, does it mean your funds are lost? Thank you!!!

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Thank you for the request, I answered most of your questions in a new post:

https://steemit.com/bitcoin/@michiel/a-hardware-wallet-what-is-it-and-how-does-it-work

Only the firmware question I didn't answer, but updating firmware is an easy task.

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