If you're considering buying a hardware signing solution for Bitcoin, I recommend the Ledger Nano over Trezor. As of this review, 5/15, I think this is a great solution along with Coinkite for securing your BTC. This is not for newbies and I encourage anyone interested in BTC to utilize and play with as many wallets as possible which will give you and understanding and comfort level on how best to implement your own security. Now, let's go over the negative parts of the Nano first. The device itself will constantly need to be reflashed as updates come out. The UI is very basic and you'll end up plugging and unplugging it multiple times. You'll need your 24 word seed and recovery code. This is something that you should WRITE down and NEVER SAVE ON A COMPUTER FOR ANY REASON. While this is a real pain, it is of utmost security to not have this information digitally saved. Have a system down where you can keep the seed and recovery for immediate use and copied down in a safe location such as a safe deposit box. If you lose these, you could potentially lose all your bitcoin stored in your Ledger wallet. The Ledger wallet itself is very minimal and must be accessed through a Chrome browser. Smartphone access is promised for the future. Now, let's talk about the good parts of the Nano. A four digit PIN is required each time you log in. If you put in the wrong PIN three times in a row, the seed is wiped out and the card must be reflashed (thus the need to have access to your written down seed and security code). Where I think this shines is for multisig wallets and in particular, how this is now available in Coinkite. With Coinkite, I can have one co-signer as my Coinkite signin and have a second cosigner as the Ledger Nano. For my purposes a 2 of 2 signature is more than adequate security. For someone to hack my BTC, they will need to know my Coinkite log in, have access to my phone for 2FA (and know my phone PIN), physically have my Ledger Nano, and know my Ledger Nano PIN. I bought the duo so I have one Nano for frequent use and keep the other Nano (identical seed) in another remote secure location. So what happens if I lose my Nano? As long as I have my seed and security code, I can recreate my hardware key. This is as secure a system that protects me from bad actors and also from myself if I happen to do something wrong. So before you buy this product, I highly encourage you to experiment with web wallets (good for beginners with small amounts of BTC), brain wallets such as Electrum and Armory, HD wallets and even Trezor. But using Nano as a hardware key in a multisig wallet like Coinkite makes the most sense at this point in time.
I purchased the Duo to have BTC wallet storage away from a computer and to have a full hardware backup and this product does just that. Very satisfied with how it works!
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