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What is a Hardware Wallet? (or How to Make Your Cold Storage Hot)

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It's said that all Internet-enabled devices are technically hack-able. So how can you confidently store money on them? "Cold storage" was developed to take crypto "private keys" offline, but then how do you spend the crypto? Enter hardware wallet demonstration! Check out our new channel! http://youtube.com/dashorg Connect with us! [website] http://TheDailyDecrypt.com [tweets] http://twitter.com/TheDailyDecrypt [facebook] http://facebook.com/TheDailyDecrypt [RSS feed]: http://mix.chimpfeedr.com/5b92e-The-Daily-Decrypt [subreddit]: http://reddit.com/r/TheDailyDecrypt Wanna sponsor a show? http://thedailydecrypt.com/Sponsorship Sponsor: Buttcoin subreddit: http://reddit.com/r/buttcoin Show links: Trezor homepage: http://www.bitcointrezor.com Music: 'Touchdown Turn Around' by HelloGoodbye: https://www.youtube.com/watch?v=8kzi96BN-yw&feature=youtu.be Contact us: http://thedailydecrypt.com/Contact Tip us! See our addresses for Bitcoin, BitcoinDark, Bitshares, Dash, Dogecoin, Ethereum, Litecoin, Monero, Neucoin, Nubits, Nxt, Peercoin & more at http://thedailydecrypt.com/Tip-Us ProTip ready: 16YmPfNXChVXcuut8opkHfmfYw4mPNFD6B
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Text Comments (153)
Mr.ABRAR (20 days ago)
And password also
Mr.ABRAR (20 days ago)
How to get trezor wallet address?
sally gonzalvis (22 days ago)
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Jin Literatus (23 days ago)
You explain very clearly. do you have videos about new ICOs too? I'm interested specifically in SciDex.
Sue the SEC !!! (1 month ago)
You make alot of sense.
Death 4 us (1 month ago)
Also hearing some people saying you also need an offline computer also. Is this correct?
Death 4 us (1 month ago)
So in your hot wallet people can’t see how much you have. Is this correct? Also how to move from hot to cold wallet? When it’s in the cold wallet is your currency backed up? I am just learning and very confused!
Nik Lyons (2 months ago)
If I wanted to store ether is there a wallet for that or can I just get the private key and write it down and store it until this fed market manipulation is seen for what it is and we no longer have such an impending threat to the free market?
Indospace-dot io (4 months ago)
Amanda, you are definitely a hot wallet not a cold one. lol
NEWAGE ROBOTICS (5 months ago)
Great video thank you.
Rvoel777 (5 months ago)
Hi. Very informative. The Majority of this wallets seem to only hold Bitcoin. My question is what cold wallet can store the most different alt coins and what's the exact number of alt coins that can hold ( meaning eth, trx, ltc, edg, etc?
Verge Hodler (5 months ago)
Loved you in lord of the rings. Hot elf
Joe Mel (5 months ago)
Thank you so much, Joe from Canada. This is very well done, i see and understand everything clearly
Joe Mel (5 months ago)
Can you believe, I have 8 sisters and they all dont know what Bitcoin is all about. They've heard about it for sure, but they have no positive or exciting reactions to it, weird .
James S. (5 months ago)
Watching this now in 2018, that Ripple price wow...
Uncle57 (5 months ago)
Why do you need this
Richard Vitacco (5 months ago)
The sponsor is butt coin!?!?! What?!? Lol
JAMIE STROUD (6 months ago)
I'm totally paying attention to what she's saying, but good golly, she's soooooooo attractive. *drools*
eldiablo8myStash (6 months ago)
Can I store my other coins like Nexus, Verge, XRP, and Einsteinium on one of these wallets? If not, do I need to download wallets from these coin companies?
Matt Simon (6 months ago)
goddam look at those prices
Alpine Maximus (6 months ago)
Cute woman. More. More.
Fin Teja (6 months ago)
Soon her wallet is gonna get hacked.
JOHN DOE (7 months ago)
You cant hack past 2FA without the users phone anyway trenzor are shite compared to Nano Ledger.
amit gahlot (7 months ago)
https://backoffice.omnia-tech.eu/backoffice/register/user_register/kota100btc
Xueq (7 months ago)
Shes beautiful
ushangi matiashvili (7 months ago)
Hallo, ich Nutze diese, https://www.litebit.eu?referrer=64644 wallet und bin zufrieden, da kann man auch andere Coins einkaufen und verkaufen, was denkstdu über diese wallet?
WICKEDLEE LOOPY (7 months ago)
Can a hardware wallet get hacked while it's connected ? Assuming you left it connected to the computer too long. All things considered , it's only a random scramble pattern program that could be reverse engineered.
MattC78 (7 months ago)
Has anyone told you that you are beautiful? Because you are. ; )
gnikmi (8 months ago)
your so hot Amanda
merry merry (8 months ago)
where can you get HostCoin?
Joshua Nagel (8 months ago)
Loose the hard wallet, loose all your BTC
Yashu Sharma (7 months ago)
Joshua Nagel you have the 24 word code
Gene L. (8 months ago)
I know this seems very novel to most people right now, but I hope there might come a day when hardware wallet becomes so ubiquitous that people will see this video the same way we see the original advertisements for "The Internet" 30 years ago.
Carlos Junior (8 months ago)
use my link to use your credit card to buy bitcoins at a great rate. https://paybis.idevaffiliate.com/idevaffiliate.php?id=1325&tid2=papi
Alejandro Gonzalez (8 months ago)
What if I lose it. Am I focked?
Yashu Sharma (7 months ago)
Alejandro Gonzalez you have the 24 word code to recover
Gen Lin (9 months ago)
Where do you store your hardware wallet if no homebase and a nomad? It would take me five minutes to lose it. I am thinking safety deposit box? And keep smaller amounts mobile? But that would require going to box when need more. Any other ideas.?
Davy Mathijssen (9 months ago)
Evryting You cant hack If i realy want i can let disiper your money
Davy Mathijssen (9 months ago)
Buy Worldcoin!!!! Is gering 1 dollarfast !!
Rob Buser (9 months ago)
AMANDA IS THE BEST! THX ACEGALL : )
Chin Vong (9 months ago)
If we lost it, we will lost our fun?
MarkG (9 months ago)
What about if the cold storage will stop to work?
Salih Yagiz (10 months ago)
OK THANN YOU WERY
igor taranchenko (10 months ago)
If you like poking a Butt coin? 🤔 I'll pass.
efr reyes (10 months ago)
Where to buy Trezor
Johnny Tang (10 months ago)
Sorry, not sure how you create the cold storage on that deice before you spend it, seems not part of this vid.
Saban Buba (10 months ago)
Maybe this is a stupid question as I am thinking to start with crypto currencies and I'm researching how and what to do. There is a possibility for two step authentification and this can also be set with withdrawal - sending crypto or fiat using google authenticator. The app provdes a six digit code which also changes everytime (automatically). How secure or insecure would this be?
april8329 (11 months ago)
what if your trezor breaks, do u loose ur funds
Remus (11 months ago)
I do not know whats all about but I like it.
Hanson (11 months ago)
easy to understand how to spend from the wallet. i'm more curious how do you put coins into the wallet. i.e. BTC generated from mining pools or nicehash... if it's not connected online, how do you get the coins?
Dagobert Duck (11 months ago)
beauty !
Abel Leba (11 months ago)
let me get some of that $11 ether!
NarayanGandi (11 months ago)
Please don't put these cryptos price in running line below. It's youtube not TV. That information is distractive, obsolete and unnecessary. Thanks
Rajan Rangarajan (11 months ago)
So tell me 2 things: 1. How sure are you that the SW which stores the bitcoin / crypto currency in the hardware is also not putting it in your computer and later when you connect to internet sending a copy of it to some place for stealing at a future date.? 2. What happens when the HW fails ? say water damage or heat or mechanical or the USB port is damaged. Any electronic component can be defective.
Alex Sander (11 months ago)
i dont trust that thing it seems like something id lose or break
B (11 months ago)
A little confused. If I have an account on Bittrex and trade 10 different coins, do I have to convert those coins to Bitcoin to store on the external wallet? I would have to sell a coin to covert to Bitcoin to send and store. Seems sort of weird, with fees here and there. You can't send a coin to a different coin wallet right?
BC (1 year ago)
cute woman bad hair
BLAKBODHISATTVA (1 year ago)
you could just use an encrypted usb drive with a few other safeguards
Bola Vaughn (1 year ago)
Great video, l have ledger nano wallet that only save my 4 crytocurrency, what will you advise to save others crytocurrency because l have like 10 different crytocurrency. Does that mean l need to buy more ledger nano wallet? Will be happy for your recommendation
bennygreen1 (1 year ago)
I'm still trying to wrap my head around this. So, as I understand it, a cold storage device allows you to create a related private and public key which has never been in contact with the internet, and is therefore unhackable, and if you send funds to this public key the transaction will be accepted onto the blockchain and the funds will be yours even though the private key has never been in contact with the blockchain or internet???
Arthur Heidt (1 year ago)
i want to have sex with amanda b johnson
TheTCOLL (1 year ago)
What confuses me is how to get the money to begin with, or how to get the key I guess and safely put it on this device.
Drew Jackson (1 year ago)
2:33 is that an ironing board lol :) great video btw - i just subbed. I'm just now learning about hardware wallets. nice job!
Andy C (1 year ago)
Holy shit. Back when ETH was $11
Manoj Patnaik (1 year ago)
can I use it on mobile
jmcarp98 (1 year ago)
I like hard gold and silver!
Sheri Ucar (1 year ago)
Is there a hardware wallet that I can store Bitcoin and ETH ?
Nunya Bizniz (1 year ago)
I followed these steps exactly and still got my dick caught in the ceiling fan!
Alfred Stormpike (1 year ago)
2:46 *holy SHIT THAT FINGER IS FUCKING DISGUSTING, WHERE DID YOU STICK IT*
Alfred Stormpike (1 year ago)
Why is she using background that looks like huge trash pile from above?
Alfred Stormpike (1 year ago)
*God, I hate this bitch so much, can't we have a man host this? It is obvious she doesn't give a shit about cryptobutts and is there only to attract the desperate, lonely nerds. FAKE NERD GURLL, GO HOME!*
LondonSpade (1 year ago)
I'm glad there's a hardware wallet for Bitcoin, however how do I store other coins? For example: Antshares (ANS) Maidsafecoin (MAID) Gamecredits (GAME) Factom (FCT) Siacoin (SC) Decred (DCR) Ethereum (ETH) And so on? There are so many and keeping them on an exchange like Poloniex doesn't feel safe..
thanks Amanda!!!
Zero 2 Cash (1 year ago)
I have the Ledger Nano S I bought 2 of them , I have (4) coins installed allreaded and trying to add Zcash and the other new coin available But it says There is no more space to install more coins and to uninstall  one to countine with another install. How can this be good to hold ALL my coins ?
karonic ゝ (1 year ago)
3:00 "maliciously recording my strokes"
Anthony M (1 year ago)
I have bought a nano s and I want to transfer a bitcoin from coinbase, how do I locate my private key?
Lee3000 (1 year ago)
Hi Amanda! Cant find out how I use dash om my new trezor.. when I use it in trezor web wallet I have account for btc.. and thats nice:) How do I use it for dash? Can I use trezor web wallet for dash? Cant find any video that explains this.. maybe you will make one;)
YC (1 year ago)
what if you lose your wallet?
14lou (1 year ago)
wrong
Mr Divinity (1 year ago)
YC you lose your wallet = your fucked
shatraiwisdom (1 year ago)
omg u had me rotfl the whole time ! you're awesome ! thanks for the info and good laugh :)
Dr. Mike (1 year ago)
what if you lose your trezor?
Lee3000 (1 year ago)
Then you have your seeds;)
Leandro Lima (1 year ago)
I loved this video. What happened with your channel? Last video 6 months ago. Boo
WICKEDLEE LOOPY (7 months ago)
Leandro Lima she must have got hacked...lol
Leandro Lima (1 year ago)
Oh dash! I'll be watching that...
Paul Trahan (1 year ago)
Amanda no longer makes episodes for this channel. She now makes videos for Dash.
Joe Townsend (1 year ago)
Awesome!... Miss your videos...
Mok Jordy (1 year ago)
Here is the extract from Trezor website. What happens if the SatoshiLabs servers are hacked and the firmware signing key is stolen? First off, this won’t happen ;). The SatoshiLabs master key is kept very safe. However, you don’t need to rely on the SatoshiLabs signature. You can verify the build yourself. Our hope is that a few trusted TREZOR users will make a habit of verifying firmware checksums. If you are concerned about this, we suggest making a habit of checking our blog or social news channels such as reddit before applying any updates. If there ever was a problem with the firmware not matching the source code, you can be sure someone will have written about it. You don’t need to worry about the firmware being updated by a computer virus. Your TREZOR will ask you to manually confirm the update before anything is written to the TREZOR’s memory. I trust the mechanism but how can I trust any unsafe update from Trezor?
69ratm (2 years ago)
Keep Key looks like it's a pretty good hardware wallet also. I hope to be purchasing one of those in the very near future. www.keepkey.com
Liberty Warrior (2 years ago)
These hardware wallets are a great idea, I think they will evolve to be able to send payments to store pos equipment once Bitcoin is more widely used.
cmorera (2 years ago)
don't forget to epoxy Ethernet ports on your computer
Anmar S. (2 years ago)
almost human ;)
Adolf Toll (2 years ago)
If you split up your cold storage into many paperstrips then you can sweep them into your hotwallet incrementally. That also gives you flexibility. Also what i dont like about hardware wallets is that they give away the fact that you own a significant amount of bitcoin. Anybody who sees you with that hardware wallet can guess that you are probably hiding that backup paperwallet somewhere in your home. Also with smartphones, why would you need to use someone elses computer? Hardware wallets are comfortable though. But the use cases arent as broad as one might think.
Rick Heil (2 years ago)
Humm you didn't just flash your private did you? Key I mean.
Jonathan Cross (2 years ago)
+Rick Heil No, there is no way to show the private key... Oh, that was supposed to be a dirty joke... hmmm...
Hendi Valentino (2 years ago)
Hi Amanda, thank you for your video!I have a question about Trezor if you don't mind :) I heard that we can't stored our bitcoins in there, so I'm kinda confuse what is the purpose of a hardware wallet if we can't save our bitcoin inside? thank you!
Samuelson baker (2 years ago)
wrong side of histroy.
Bpace777 (2 years ago)
I find your videos very useful for my ongoing attempt at trying to understand cryptocurrency. Thank you!
Sasha Bakhshi (2 years ago)
Hope they come to a consensus on the block size soon, that 4 cent fee is starting to look expensive
Sammy Yeung (2 years ago)
In addition, CEO of Ledger Wallet told us that their team are currently developing the hardware wallet for Ethereum. It will be available for their upcoming new product "Ledger Blue". The hardware wallet is with touch screen and Bluetooth so it could be used in IOS version of mycelium. Have a good day!
lollz y. (2 years ago)
When I heard this episodes sponsor I died laughing!
Von Nola (2 years ago)
Good video. I use Ledger for my off the net wallet.
Von Nola (2 years ago)
+The Daily Decrypt Yes, but I connected it to a companion app that gives you an additional layer of security.
Amanda Johnson (2 years ago)
+Von “Von Nola TV” Nola Neat! I believe a Ledger can connect to a mobile phone wallet, too, is that correct?
Coletrain (2 years ago)
Funny this topic comes up the day Obama mentions he is concerned about "everyone running around with a swiss bank account in their pocket". https://finance.yahoo.com/news/obama-government-cant-access-phones-223422581.html
Trumble Research (1 year ago)
Coletrain fuck obama
Bollen Crypto (2 years ago)
👍🏼👌🏼 i have that 2 and its great! // Agartha.
insanity54 (2 years ago)
I like the idea of the Case wallet. I haven't tried the product though. www.choosecase.com
Kaybe23 (2 years ago)
Buttcoin .....o.O Really ?! Great Vid Amanda!
Sebastian Sjöberg (2 years ago)
Excellent info. Looking forward to more such reviews in the future
Art tick u late. (2 years ago)
that Bacon bandage looks like you had a horrific finger accident.
Jacob011 (1 year ago)
aaaahhh, now I finally understand the bacon refereces ...
+Stoop Bacon bandage +Buttcoin -i hardly was able to focus on the main topic ;)

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