Hardware wallet headaches!

Hi

Hoping for some advice regarding hardware wallets. Been in crypto for a while but everythings on exchanges and software wallets, think its time to change!

Head is absolutely pickled researching it all.

My main question is about fees and which network to use, for example I’ve just discovered that to send MATIC to a ledger/trezor it has to be done via ERC20? I’ve now read lots of people tried sending it via polygon and had a headache trying to sort it. My experience of transferring matic before has always been on Polygon. (conversely ive just watched something else that says ledger for example supports polygon and you can send matic via polygon)

Does the hardware wallet warn you of this? How do you know what is and isnt compatible?

Looking at avax now, and it seems you cant just send from binance for example striaght to the ledger, you have to set up an avalanche wallet first and connect it etc.. The whole process just seems like a complete minefield and headache!

Is this just how it is and I need to suck it up and get on with it or are there any better ways/tips etc?

Any help would be much appreciated!!

p.s. please help me decide between ledger nano s plus and trezor model one!!

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9 thoughts on “Hardware wallet headaches!”

  1. Unfortunately you need to check every coin and token you want to send to hardware wallet. No all are supported, not all are send the same way. So better be safe than sorry. It is little problematic, but not worth to send without checking first, it can create problems or even mean losing crypto.

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  2. I would suggest a ledger Nano S Plus. Also suggest The CryptoDad on YouTube. He explains a lot in detail, kind of like a crypto for dummies vibe.

    He even has something on Matic he did recently, it might have been on his last live video which is like 2 hours long covering different things. He might have a 20 min video on just Matic and ledger out now or maybe soon.

    In the video talking about Matic on the polygon network there definitely some weird things going on about it showing up on the polygon network so you would have to watch the video.

    Ledger is a great device. I believe it has more supported coins than a Trezor, and the coins that aren’t supported on Ledger Live can also be accessed by a 3rd party wallet such as Metamask etc. linked to your Ledger device so you still have the security of your Ledger device while using a 3rd party wallet. I would imagine Trezor is capable of this, however I’m not sure.

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  3. Exchanges simplifies swapping and sending alot for you, being you own bank requires quite some more reasearch.

    Nonetheless a good UI on your cold wallet system is pretty important too. These things will continue to evolve.

    I can recommend the ZERO from NGRAVE abit more expensive then most but worth it.

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  4. I’ve got the ledger nano x. It works pretty easily once you get used to it. I believe that it can support polygon chain in addition to some others.

    Just take your time setting it up. Always always always send a test transaction first.

    Losing a few bucks is better than figuring out where your real money went.

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  5. Get a Ledger. Trezor is perfectly fine, but there is more support out there for Ledger from what I’ve found.

    You have to learn to identify wrapped tokens versus native. Binance will sell BEP20 or BEP2 versions of native coins that will very much not work with native wallets on a Ledger. If you get a drop down menu when you go to withdraw, sometimes you can select a native version and Binance will unwrap it for you.

    When in doubt, eat the fees for a test transaction

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  6. Make sure you do a test transfer in of the smallest amount supported before you send the balance

    And test the recovery process too

    Don’t forget to secure your seed words properly too

    Good luck

    Oh and here, have an award too

    🙂

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