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Understanding u0026 Updating Ledger Nano X Firmware: Navigating Trust in Hardware Wallets

Кадры Understanding u0026 Updating Ledger Nano X Firmware: Navigating Trust in Hardware Wallets

Описание Understanding u0026 Updating Ledger Nano X Firmware: Navigating Trust in Hardware Wallets

Коментарии Understanding u0026 Updating Ledger Nano X Firmware: Navigating Trust in Hardware Wallets

When I mentioned Santa Clause, I was referring to the fact that people believed the Ledger Nano device was 100 cryptographically trustworthy on its own That was a fairy tale, like Santa Clause Ledger never said that was the case, people just believed it The truth is that the secure chip element that derives and stores the private key is proprietary technology and not open source Therefore it requires a level of trust in the company (No disparagement intended for people who still believe in Santa Clause) Comment from : The CryptoDad

my ledger firmware is 202 would it still be safe to update it? cheers Cryptodad Comment from : Jack Lukins

So how do people feel about splitting between an X and an S? I like the Ledger because it’s so easy to set up and use Comment from : vengefulvegan

CryptoDad I have a question: Is Trust wallet needed for xrp xlm or can I leave on my Ledger nano when the conversion happens? Comment from : Doubleg123

Liberty safes just went through something similar Giving back door security code to the feds without a subpoena Comment from : The road to serfdom

Trudeau's back door Not so much weird, more totalitarian Comment from : Tj

😅😄 Comment from : SeaSide Joe

Good day Sir you crypto is still save??? As I still have not done my firmware update Comment from : SeaSide Joe

Hello @CryptoDad , are you using VPN to update? Or your regular internet? Comment from : ZIBBO

The whole point of crypto (Bitcoin anyway) is to have complete control over your money I don't remember Satoshi saying in the whitepaper anything about trusting to a certain extent some company with your private keys Comment from : Crypto G Crypto

Thanks for the logical explanation! Comment from : Jason Jason Jason

Crypto dad can you suggest what to do now? Comment from : Dr Terri Tyler-Jones

Thank you so much Comment from : Pozitiv CZ Music

Yet ledger has promised to open source their code so your reasoning is incorrect Comment from : 24hr diner

I am ditching my ledger because of this Comment from : A2J Tim

Hello sir,bri tried to login to my ledger live since i haven't been on it for many months As i typed my password it said it is incorrect which is impossible, do you have any suggestion? Is it because i haven't updated the ledger live? brbrI already contacted ledger support but until i get an answer i thought i should reach out to you! Comment from : Claudio Peña Aguilar

If Ledger has access to your private keys, they can just set-up a new device with it and take full control over your Crypto It's not a backdoor, it's more like leaving the front door wide open Comment from : MrRickytuk

Is it necessary to update firmware? Comment from : Crypto Believer

Hi First off thank you for all your videos Can you direct me to a video that covers how to transfer funds from one ledger nano X to another ledger nano X (completely new address…not additional access to original address) Thanks Comment from : UDont KnowMe

thoughts on DCent and Tangen wallets? Comment from : jimidean corncracker

Air gapped Comment from : CrimZn

The World is falling into the digital currency and every gov will require the crypto to be transparent Unfortunately we are fced all😢 Comment from : Javelin Bayraktarovich

Will we eventually be forced to update firmware or can we opt out indefinately? Comment from : Bad Fold

Figuratively speaking Out of all the big sticks that have found their way to my butt (voyager, ftx, etc), luckily ledger is yet to ram one in Comment from : Don Privatë-Patrón Juan

To the crypto godfather, for this video we thank you Personally I think every wallet will soon be confronted by the government with similar propositions (likely mandatory) Comment from : Don Privatë-Patrón Juan

Thanks Rex for the informative content! Comment from : Barra

It’s on Ledger to allay ppls well founded fears … not crypto Dad I still can’t believe how weak the ledger ppl and the company has been about it all Comment from : John Corson

My issue is that I have zero trust in government agencies, but my Nano S barely holds three coins so I'm either going to have to juggle which apps I leave on it or use my X! 😅 Comment from : KristeeBee

I dont understand, why so big drama with the Ledger??? Just buy a new hardwallet and move your crypto!! Have a great options out there Comment from : sta kand

Thanks I was looking for an update about this topic after the news and fears spread on the cryptoverse You are the only one that I know who did an update following all the hype one month ago That speaks about professionalism and reliability with your content Comment from : WetDroiD Edition

I'm using the Ledger Nano S (Original) My biggest problem with this is they can wirelessly transmit your seed phrase I don't like that and that is a big deal! I know technically they can't do it with the Ledger Nano S but in the future I will most likely be going multisig! Comment from : INFINITY

well said, u're still my favorite crypto guy, been watching u for over 3 years now! Comment from : kashapreneur

Do you think that adding a 25th word phrase would creates a different account ?? and if that phrase was created as temporary, meaning it will not be saved on the device but creating the account at the time of the login only, which negate the backdoor claims?? what is your opinion on that? Can you please make a video on that topic? Comment from : Ed Nakh

Love you Dad 😆 🤣 ❤️ 🍻 Comment from : Cape_Seal

Ledger has done such a bad job at damage control Which I think is purposeful That's what concerns me The cat is out of the bag Comment from : Burg Carli

I purchased a ledger nano x some months back to use along with my iPhone via Bluetooth, it is now useless due to it needing updated via a laptop/pc which I don’t have FFS 👎 Comment from : Paul Bird

I just received my Nano X 7/11 yesterday I set up and took my crypto off the exchange and sent to my wallet address on ledger live and Nano X (I know it stays on blockchain) now today I tried sending to and setting up new account now I can’t do anything because it tells me I have to update the firmware by connecting it to desktop I don’t have one that is whole reason I got ledger live app and Nano X so I could do it with phone now my crypto is like being held hostage do you know of another way thx $tuck Comment from : bNICEdaNicest

I've been putting off this update, but I finally pulled the trigger thanks to you I trust your judgement and experience, CryptoDad Comment from : AJ

Does Ledger remove your crypto apps when it updates the hardware wallet? I ask because you mentioned that you were reinstalling all your app's that were on the device before Comment from : Evelyn Mitchell

Anyone that knows anything about code and firmware … THERE IS ALWAYS A METHOD TO ACCESS , THERE MUST BE Comment from : M S

LOL Comment from : srah60

Thank you CD, I'm with u - spread the risk - E A S Y!!!! Comment from : papa taiga

Some of you weren't around for MT Gox and it shows brbrNothing is 100 safe or secure brI would trust a company that sells a specific product, hot or cold, above an online wallet Comment from : Ford Prefect

will ledger still work without the update? Comment from : Miami sands

did ledger make you reinstall your seed phrase too with the new update? Comment from : Miami sands

crypto dad ya whats up with ledger damn man im scared Comment from : Miami sands

Why not a real cold wallet like Coldcard for BTC? Keep the ledger for altsz Comment from : ikust007

lawyers think like that Comment from : theta dog

221 firmware update just fucked up my shiba wallet trough bep20 i cannot see how much my shibs worth i dont know why, do you have any idea? Comment from : #PEACE

as always - accurate and well considered pragmatic insights from the ultimate Crypto Dad Thanks a ton! Comment from : 12kvisions

The problem behind the recovery app isn't only Ledger, The real problem are in governments, who with its laws are the truely robbers Sorry I don't trust my money any person or company or government Comment from : Lucas Delgado

How do you ensure you are updating but you do not activate their seed recovery service? Comment from : Loving Life

Jade and coldcard fixes this!! Comment from : Gonçalo

How about a refund on the wallet? I didn't agree to buy a ledger with a back door Comment from : SF Outdoors

What if you don't do the firmware update? Comment from : SF Outdoors

What about if an employee/s goes rouge and exposes and steel all customers seed phrase? Comment from : Nelson Lam

You flip-flop in dad Comment from : Mappy1

I just lost 1000 xlm I was trying to send from ledger to uphold how do I recover , I realized idid not copy paste second code Any tips anyone? Comment from : Johnny G

ftx ??? they bad yeah Comment from : chris cross

id throw my n x in bin before i update mine lol Comment from : chris cross

no but if France comes to our lands n world implodes they can take our funds while we suffer ive nano x Comment from : chris cross

Can I have my ledger account on 2 devices Comment from : Giuseppe Grossi

very good video! ledger is safe guys, dont worry people habe to trust other people little bit more if you dont trust anyone its better to buy gold and silver instead of crypto 😮 Comment from : Christian Madl

Ledger wallet is a custodial wallet It's not cold storage or self custody haha What a scam and joke Worthless and corrupt like all the rest Nothing changes in Satan's world Comment from : Jacks Machine

Do you know how to transfer Erc-20 crypto to Ledger Nano-X,but keep it as it's own token(exDoge to Doge,Xdc to Xdc,ect?)I transferred some Xdc,I believe,to my Ledger Walletbut it changed from Xdc on Uphold to an amount in Eth in my Ledger Wallet🤔😭 Comment from : The Brain

The people who run the Ledger company are neither evil nor malicious; they're not trying to steal crypto from their customers The primary issue for me, however, is that they have now created a tool THAT COULD BE USED BY GOVERNMENT, ie, a judge could come along and issue a subpoena, and demand any and all records So out of all the hardware wallet companies, Ledger is the only one that has created a "back door" for government to go through And yes YES it's probably true that some other wallet makers COULD create such a back door; but they haven't and the judicial branch of government cannot compel them to create such a back door The LEGISLATIVE branch of government could compel hardware wallet makers to create a back door but the JUDICIAL branch of government cannot So again, Ledger is the only wallet company that has (or will soon) hand over the keys (to the back door) to any judge who asks for it br And there's a secondary issue, which is that of a potential "rogue employee" It may become possible, in the not-too-distant future, that a rogue employee will be able to get a hold of the seed phrase of Ledger customers That is not (yet) the case with any other hardware wallet maker br Some people say that "any wallet maker could create a back door like Ledger did, and so therefore one might just as well use Ledger" This analysis is just wrong, as I've explained above Comment from : dlukton

Don't we KNOW that Ledger's latest firmware update installs a backdoor because they announced it? It is what makes their "Recover" service possible, enabling them to extract your private keys upon your request or the request of an identity thief or government agency Comment from : Mike 888_CA

If ledger splits private keys three ways and keeps them encrypted in cloud services, if they get into hands of bad actor, our crypto can be stolen by the bad actor When they have private keeps, they don't need hardware wallet to move crypto outbrYou can argue whatever you like, but only until your assets are lost Comment from : KBoy

If I use a pass phrase on my ledger I’m good right? Comment from : Jacoby J

I follow your videos and really appreciate them Ledger lost my trust so not using them Comment from : Dont trade while Golfing

I already update it 2 weeks before Hopefully 🤞 everything is good in future I still don’t care about switching to other devices 😊 Comment from : Nantha kumar Soorya prakasa

Poor reasoning to upgrade Risk assessment is based on know risks and potential risks You assuming a know threat will not realise brbrYou’re also only talking about the highly unlikely event of ledger stealing your crypto - that’s a ridiculous argument The real uproar is that it’s become part of the centralised, controlled system You don’t mention this Comment from : hkgcrypto

Will you come "hat in hand"to all your followers when you lose all your crypto but are made whole again by Ledger with the NDA you made with them? brbrUnfortunately they don't have such a luxury Comment from : Ame Agaru

I don't like this! Comment from : Gentle Wong

Mine says 2261 available Different from yours Comment from : David Gene

Hi CryptoDad, can you do a video on how to add an ERC-20 token on Trezor T? Comment from : Tony

Cryptodad never speaks of the open source hardware wallets like Blockstream Jade and ColdCard These wallets are extremely popular because they are open source (among other reasons) Comment from : Quiet_Cat

So that's TWO layers of Trust we must inherently accept: (1) Trust in Ledger, and (2) Trust in the third party Secure Chip Manufacturers (whoever they are) Nothing in crypto is ever 100 secure Diversify hardware wallets I guess Comment from : Julius Arceo

Hi there, do you know how to store reddcoin and ETN which I don't think ledger supports/ Thanks Comment from : Promised Return

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