What is a Hardware Wallet / Seed Signer?
Most people call it "Hardware Wallet", which is inaccurate since it is not a wallet, it is a "Seed Signer"
Basically it is an electronic device with a simple user interface which guides you to introduce your seed words, once configured, you will use it in combination with your Bitcoin Wallet to sign transactions.
How does it works?
Once you are fully setup, if you try to send funds with your Bitcoin Wallet, you will be prompted to sign the transaction with your "Seed Signer", it will prompt you to introduce a PIN or a password or use a bio-metric identification, once you do so, the transaction will be broadcasted, without it, you will only be able to receive, not to send.
Are Seed Signers safe?
The answer is yes, but some more than others, you have to do your homework and choose wisely, here is a check list. I suggest you follow it before buying one:
- Uses a Chip Secure Element (SE), which is a chip that is protected from unauthorized access and stores confidential and cryptographic data
- It is Air Gap, which means that is physically isolated from unsecured networks, no Bluetooth, no WiFi, no USB connector. Only way to add information is via the user interface and for OS upgrades, a SSD card
- The OS in the device is FOSS (Free and Open Source Software)
- If the company offers a Bitcoin Wallet with the device, it should be as well FOSS
- It is build only for Bitcoin, no alt coins development in their products
- You can acquire the product directly from the company
- You can acquire the product with Bitcoin
- The company will agree to deliver to a PO-BOX or similar
- In case you pay the Seed Signer with a non secure methods which give away your full name and address, ensure that the company has a policy of deleting the client records after a short period of time to ensure your safety. If they get hacked, cyber criminals will know your name and address and probably target you
Any Recommendations?
I will suggest you do your own research and do not trust, verify. I am not affiliated or receive any income from any of the products mentioned below...
My favorites so far (yes, they check all the boxes I mentioned):
- "Passport" from Foundation (link: https://foundationdevices.com/ )
- "COLCARD" from Coinkite (link: https://coldcard.com/ )
If you known of any "Seed Signer" that passes the check list above and I didn't include it, please let me know in the comments, always looking forward to test new products.
Note: Important to understand that devices built with Raspberry Pi don't qualify since they do not pass the Chip SE
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