The video masterfully reframes cold wallets as signing tools rather than vaults, shifting the focus from hardware trust to behavioral discipline. It provides a pragmatic blueprint for risk isolation that is essential for anyone serious about long-term asset preservation.
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If You Watch Only One Cold Wallet Video, Make It ThisAjouté :
We did it. We're finally live.
Man, that was uh it's always the technical difficulties right before you go live. First, I couldn't get my camera to connect. And then my internet just stopped working. So, of course, I had to sit on hold for 15 minutes just to get a hold of the internet provider. She did all her stuff on her end and basically said, "Oh, well, everything looks good. So, u don't know why it's working. We're going to have to send a technician out to Well, I ended up doing some of my own magic and back online with full bars, baby. So, we're ready to go. I appreciate everyone holding on. I'll definitely get to all your questions uh here in a bit.
But first, I got to get to um the main topic. So, that's what we're we're going to go with. But definitely drop any comments, questions you concern or concerns you have down in the chat and I'll get to them.
Um, but cold wallets won't keep your crypto safe unless you use them the right way. And after running this channel for three years now, most people have already created a back door for their cold wallets and they don't even know it. And this is exactly how a retired guy named Brandon Laro, which a lot of you may know now, lost $3 million worth of XRP, even though he was using a cold wallet because he knew that was the most secure way, he wasn't using it correctly. So, I want to go over, you know, exactly how I use my cold wallets, how they actually work so that you can fully understand because again, if you hop on Reddit right now and if you just type in like Ledger hacked, treasure hack, tandem hack, there are countless threads of people still losing money, especially in 2026 because of AI really speeding up uh the ability for scammers and hackers to to work. So now more than ever, it is crucial to understand how to use your hardware wallet or cold wallet effectively to secure your crypto. The first thing that I want to point out that I still see a lot of confusion around, which is uh insane to me, but I understand is that cold wallets don't hold any crypto. Cold wallets are signing devices. Cold wallets hold the keys that are used to access and manage your crypto. Crypto doesn't exist on exchanges. Crypto doesn't exist in apps.
It doesn't exist on your physical hardware wallet device. Crypto only exists on their native blockchain networks or on the blockchain networks uh where all their transactions are recorded.
So, a lot of people still ask me, well, what happens if I lose my cold wallet or it gets damaged? Nothing happens to your crypto as long as you have your seed phrase. The seed phrase is the 12 to 24word master password for accessing all of your accounts aka all of your addresses on the blockchain where your crypto lives.
But an important note here, a self-custodial wallet, which is a wallet where you own and control the keys, is the only way that you can can truly own your crypto. So here's what I mean. If your crypto is currently sitting on an exchange like Coinbase or Kraken or even in some kind of trust like um like IT Trust Capital or something like institutional custody like Caleb and Brown I believe is institutional custody or if you're using um or like a bank like SoFi now offers crypto. If you have crypto stored stored on any of those platforms, just know that that is literally it is not your crypto. You do not control that crypto. It is not in your control. It's just about as much as in your control as the money in your bank account. Um, you know, if you've ever tried to go in and withdraw probably even like, you know, $10,000 from the bank, odds are they they don't have that money for you. You know, you could have you could have $10 million in your bank account and if you want to go withdraw 10,000, they're going to tell you to come back uh because they they've got to get the cash, right? Uh which is weird because it's supposed to be your money. And when it's your money, you would have direct access to it. Uh no one else would also be able to to control your money. And unless your crypto is secured by a self-custodial wallet, uh that's exactly the issue. So, if your crypto, it doesn't matter, Coinbase, um, IT Trust Capital, Caleb and Brown, SoFi, if your your crypto is held by any of those platforms, it is in their control. Um, I've been seeing a lot more comments from, you know, people here on the channel uh, live stream last week. A guy had a Coinbase account. He had $25,000 in his account and they locked his account or froze his funds and then they actually closed his account with his $25,000 in it. Uh to this day, he is still out $25,000.
Now, does this happen to everyone? Of course not. But can it happen to anyone?
Absolutely.
Why is that? Because when you have your crypto held by these platforms, it is held in their wallets. Again, the only way to truly own crypto and to manage it is by having that key that is used to access and manage the addresses on the blockchain. So, when your crypto is stored on Coinbase, it is held in their wallets controlled by their keys, which is controlled by their employees. And that's exactly why I've had my crypto frozen on Coinbase for no reason. Um, my friend had his account locked for a year and one of our subscribers lost $25,000.
And this can happen on any platform. Uh, you know, a lot of you know that my favorite crypto exchange is Kraken, but by no means am I saying that Kraken is the best and that if your crypto is on Kraken that they're not going to freeze your funds or lock your account. I've had my crypto frozen on Kraken twice.
Um, it can happen on any exchange. So, the main takeaway from this is that the only way to be in full control of your crypto where nobody can freeze it, no one can lock your account, and no one can just take it from you is by owning the keys to your crypto. And the way you do that is using a self-custodial wallet. There's really only two types of self-custodial wallets. There's a software wallet, also known as a hot wallet. This would be apps like MetaMask, Trust Wallet, Phantom, um, you know, whatever it may be. And then you have hardware wallets, also known as cold wallets, which some of my favorites. You've got Ledger, Tandem, Treasure, OneKey. Those are physical devices that hold your keys offline. The reason those are more secure compared to something like a software wallet is a software wallet stores the keys used to access your crypto on your internet connected device, which is prone to all the threats of the internet. Whereas with a physical hardware wallet, literally nothing can get to this because it's offline. The only way that someone could potentially uh hack a hardware wallet is with physical access to the device. But that doesn't mean that you can't still lose your crypto using a hardware wallet.
User error is still the number one reason people lose money in crypto. And we had record a record-breaking month in April uh last month. $650 million lost in crypto because of wallet compromises.
Wallet compromises means those were self-custodial wallets.
Most of those losses come from a user error at the end of the day. And it doesn't matter if you're using a hot wallet or a cold wallet. The the activities that you do with your wallet determine if it remains secure or not.
And when you're using a cold wallet, those activities determine if your wallet remains cold or if you turn it into a hot wallet. And this is the biggest mistake that I see people who are using hot uh who are using hardware wallets make is they're using them incorrectly.
If you're using your cold wallet, whether that's ledger, treasure, tandem, it doesn't matter. If you're using that device for anything in DeFi, whether you're, you know, using decentralized exchanges, claiming crypto airdrops, uh, mining crypto, providing liquidity to a pool to earn rewards, even staking crypto on on certain external platforms.
If you are doing that with your main cold storage wallet, you are essentially creating a backd dooror for scammers to or hackers to come in. Now, there there is a caveat here, of course.
There's a lot of reputable platforms like Uniswap. Unis swap is a popular decentralized exchange. It's been around for a long time. They're a reputable platform. Jupiter on Salana, that's another uh Salana based decentralized exchange. That's a reputable platform.
Uh there's a lot of different staking platforms that are also reputable that all these cold wallets offer. Tandem offers staking, Ledger, Treasure, they all offer staking.
But you have to understand that all those platforms require that you sign a digital contract. Uh it's called a smart contract. But you sign that contract using the keys in your wallet. Your key is also your digital signature. Now a lot of those contracts are what's called unlimited. They they ask for an unlimited spend approval. And this is supposed to make it easier. Like if you're using a decentralized exchange rather than having to approve uh transaction amounts every single time you go to that exchange, you can just approve it once. That way whenever you hop on, the transactions are super quick. You just say, "Hey, I want to swap this crypto for this crypto."
Confirm. You're good to go. So, it's meant to make things easier for people, but it is not good for security.
So if you sign an unlimited spin approval with your wallet, you are granting that specific digital contract access to that specific wallet address in your wallet. The problem is that is unlimited access. So not only do they have access to the whatever amount of crypto is sitting in that address, but they have access for an indefinite amount of time. So virtually forever. So even if the website you're using today with your wallet is secure, let's say you're using unis swap, even though unis swap is secure today, let's say next year, let's say let's say January 2027, uh unis swap is somehow compromised, right? there's a vulnerability in in their in their code that a hacker found using artificial intelligence and now they have access to all of those signed uh spend approvals. Your wallet is now basically able to be drained because you approved that transaction. You told that contract, "Yes, you can take crypto out of my wallet for as long as you want."
You already approved it. So now all someone has to come along and do is is find that vulnerability and and find that contract approval and they can basically just take crypto from your wallet. It happens all the time. It happens every day. And this is the number one reason. Uh you'll see people say, "I don't use Ledger anymore because my hardware wallet was hacked and I never showed anyone my seed phrase."
Yeah, but did you connect it to a website and sign a sign a transaction?
So if you are doing anything in DeFi again decentralized exchanges, mining, liquidity, anything like that, that is an issue and that's where you need to look at your overall operational security and uh start changing things up.
So how I use my cold wallets is I have different wallets for different things.
The main point, the main reason we all use cold wallets is to as a it's supposed to be a digital vault. We want to secure our crypto. So, you should be using it as such. So, you want one hardware wallet that you only use to hold crypto. But what does that actually look like? When I say you have one hardware wallet that's only used to hold crypto, these are the things you can do with it. You can send crypto from an exchange like Coinbase or Kraken directly to your hardware wallet and it will be completely safe. There's nothing wrong with doing that. You can also send crypto from your hardware wallet back to an exchange or even to another hardware wallet or to another hot wallet and there's no risk in doing that as far as contract approvals. That's completely safe to do. You're not creating a backd dooror by doing that.
But that's about all that's all you can do really. You can also buy crypto directly through the hardware wallet app. That's okay. You can also sell crypto directly through the hardware wallet app. But if you are swapping crypto on like your Tangum wallet or your Ledger or your Treasure wallet directly through the uh the wallet's native app, you are potentially still signing one of those spend approvals. It depends though. Um most of these wallets, they offer two types of exchanges for swaps. The first one is a centralized exchange. So, they're using something like Changely or, you know, um, whatever the other ones are. Those are centralized exchanges. When you swap on on those platforms, basically, you're sending crypto from your wallet to their exchange. They do the swap on their end and then they send the other crypto back to your wallet. That's okay because you're not signing that um that spend approval. You're actually sending your crypto externally.
But some wallets also let you um they offer a decentralized exchange as an option to swap. And I'm still talking natively in the app. So a lot of wallets use a decentralized exchange called 1 in. And you'll notice like on Tandem sometimes it'll ask you for a spin approval and and if you've approved that you have essentially created a back door in your wallet. So you have to be careful when swapping directly in your wallet. You want to uh try to select the CEX, which is centralized exchange, and avoid choosing the DEX option if you want to swap crypto on a DEX because some cryptocurrencies are only available on decentralized exchanges.
The ones that haven't made it to centralized exchanges yet, they may only be available on decentralized exchanges.
If you're going to use a decentralized exchange, uh you just you need a different wallet for that specific action. So, this is where the two wallet method comes in. And your second wallet, let's just call it the I call it the burner wallet or you could call it the risky wallet. That wallet could either be another hardware wallet, preferably just for a little added security, or you could just use a hot wallet like MetaMask. It doesn't matter as much because you're not keeping a large amount of crypto on your burner wallet.
You're only ever sending crypto to that wallet if you're actively transacting or doing something with that crypto. So, for example, let's say I had some Ethereum and I wanted to swap it for a memecoin. Let's just say Pepe. It's a popular memecoin on Ethereum. Um, but let's say I didn't want to do that through the wallet's native app. What I would do is I would take, you know, whatever it was, $100 worth of ETH. I'd send it over to my hot wallet. Then I'd connect my hot wallet to the decentralized exchange. I would do the swap. I would swap the ETH for Pepe. I'd get the Pepe in my hot wallet. Now, I have my Pepe. I'm ready to go. To keep that Pepe secure, you send it back to your main hardware wallet. And it's really that simple. Um, just keep all the risky activity to one wallet. Don't keep any amount of crypto on that wallet unless you're actively trading it or doing whatever with it. And once you have received that crypto, you send it back to your main cold wallet for safekeeping. whatever you want to hold for, you know, a longer period of time, whether that's a month, three months, three years, that should be held in your cold wallet. If you are actively doing something with your crypto, um, like trading it or, um, or anything like that, you should be using your your riskier wallet.
On top of that though, if you want to uh split your risk even more because user error is still the number one reason people lose money in crypto, you could have and what I do is I have multiple uh saving account wallets, right? The saving account wallets is the one where you only hold crypto in it.
And the reason you do that is just in case you still make a mistake, you don't lose all of your crypto. Like let's say this Ledger wallet is, you know, this is my vault. This is where I keep the majority of my crypto. But let's say, you know, I make a mistake, someone gets my seed phrase or I accidentally sign a spin approval and that's a it's a malicious one. And, you know, let's say I had a million dollars on this wallet.
That one mistake would essentially cost me a million, which is exactly what happened to Brandon Laro, except he had $3 million. But if Brandon had split his savings across two wallets, so let's say, you know, he put half into a ledger wallet, half into a Tangent wallet. So now he has $1.5 million in each wallet, and he messes up, loses all his crypto on this wallet. At least he doesn't lose all of it. And this is known as diversifying your crypto. And I think it is crucial I think it's crucial uh to diversify your crypto uh across multiple wallets.
It doesn't have to be the same brand. It doesn't have to be different brands.
Whatever you feel comfortable using. Um, you know, whether you want to split it between a ledger and a tandem or if you want two tangs or you want two ledgers, that's really up to you.
And that kind of gets into to one of my final points when it comes to choosing a hardware wallet is a lot of people are looking for the wrong thing when choosing a hardware wallet. If you're asking uh what is the most secure hardware wallet to buy or what's the best wallet, you're actually asking the wrong question. Uh most hardware wallets on the market today are going to secure your crypto. If they didn't, if they weren't secure, they probably wouldn't be in business. We've seen some hardware wallet companies come and go already. Um so I feel pretty confident saying that the majority of hardware wallets that are out today, they're going to secure crypto just fine. They really all do the same thing.
The better question you should be asking yourself though is which one is best for me? Not which one is best overall, but which one is best for me? Because there's a lot that goes into that. But the wallet that is best for me might might not be the best for you. Like let's say you know a lot of people say that cold card is the best wallet out there. It's the most secure wallet. Cold card is a bitcoin only wallet. So, if you own memecoins or any crypto like XRP or XLM, uh, HAR, if you own any of those cryptos, guess what? You can't even use a cold card wallet because it's a Bitcoin only wallet. So, therefore, cold card is no longer the best or most secure wallet.
Again, there's a lot that goes into it.
So, what I look for when choosing a hardware wallet, the very first thing that I like to check is coin support. Does it support the cryptocurrencies that you want to secure? If you if you own XRP, if you own XLM and you're looking at a cold card wallet, obviously that's not going to work for you because it's a Bitcoin only wallet. So, you'd cross that one off your list. Um, so coin support is always number one because that will quickly determine if you're able to use that wallet or not. Next would be device compatibility. I know some people here on the channel would never use crypto on their phone. They're just against that for whatever reason.
So, something like a Tang wallet, which is a mobile only wallet. you can only use it with your phone. That would be a terrible wallet for them because they obviously need a wallet that will work with their computer. So, they would need something like a ledger or a treasure or a one key. Or maybe you prefer using your wallet with your phone. If that's the case, then you would need something like a Tandem. Um, you know, or you could use certain treasure models or certain Ledger models that work with both phone and computers. So, device compatibility would be number two. And then once you have a list of wallets that will work with your devices and your cryptocurrencies, the last and arguably the most important thing is going to be um does it match your experience level? Is a wallet easy to use? Will you actually enjoy using it?
There's a lot of wallets on the market that that are really secure um that have a lot of great security features. The first one that comes to mind is the Keystone 3 Pro. Keystone 3 Pro 100% open source. It has three different secure element chips. It allows you to store up to three separate seed phrases in one wallet.
However, I don't find that wallet enjoyable to use at all. It's an airgapped wallet, so you can only sign transactions by scanning QR codes. Uh I think the the actual inner the hardware interface, the actual screen on the wallet, I think is pretty slow and and kind of laggy, which is kind of frustrating.
Uh, so for me, even though that's a great wallet that's secure, that has a lot of different security features, for me it's it's not the wallet that I would go with because I think there are better options on the market that will achieve the same thing. They will achieve the same security, but I'll enjoy using it more. Um, so those are really the important things that I wanted to point out when it comes to cold wallets. And I'm sure you have some uh some questions about all that.
And I'm going to jump over to the chat now and definitely say what's up. I will say um you know cold wallets, the thing that I've noticed with cold wallets over the last three years running this channel is a lot of people really want to get their crypto off exchanges because like for example, Coinbase just went down last week. It was down for over seven hours.
So a lot of people weren't able to access their crypto. Um, and when things like that happen, a lot of people are like, "Dang, I really wish I had a cold wallet." But a lot of the times they still won't move their crypto to a cold wallet because they think that they're too difficult uh to use. And I'm here to tell you that a lot of things seem difficult until you just actually do it.
And, you know, you can do it on your own time and at your own pace, right? If you get a cold wallet and set it up today, you don't have to transfer all of your crypto uh in one go. You can try you can try, you know, a $10 transaction here.
You can try another $20 transaction here. And as you build up your confidence, you can begin to transfer your crypto to your cold wallet. Um there's no specific rules for, you know, for doing it. Whatever you're comfortable doing. So, if you've been considering getting a cold wallet, I really encourage you to to make that transition, to start that transition, to to get the cold wallet, uh to try transferring just a little bit of crypto and just build up that confidence because it's really easy to do. Um, I've been doing it since 2020 without any issues and I started just like everyone does as a complete beginner.
Um, the one thing I will say is there are some like really beginner friendly wallets right off the bat that I can recommend. Uh, Ledger has always been very beginner friendly. So, really any Ledger model. I prefer the touchscreen models at this point just because the the interface is better. I I prefer a large screen over a small screen. Um, by far the most beginner friendly wallet on this channel and I think a lot of subscribers would agree uh if you don't mind using your phone with your wallet is going to be Tandem. And of course, as most of you know now, uh, Tang is doing a giveaway between it started May 5th and it's going to June 5th. So, they're having a they have a hundred different prizes. Uh, the top prize being $5,000 in in Bitcoin. They also have some brand new iPhone 17, 256 gigs. They have some Tandem rings. They have some other Tang products and other Bitcoin rewards that they're giving away. Uh, and all you have to do to enter that giveaway is purchase a Tangent wallet using someone's affiliate link between now and June 5th. I drop my link down in the description if you want to automatically be entered into that giveaway, but also they're doing a massive sale on their website. So, they have 20% off the entire website. Uh, plus you get free Bitcoin with any purchase. Um, and then some purchases over $89, I believe, is also free shipping. But they haven't even the biggest and best deal that will also get you double entries is the buy one get one 50% off. Um so on their website they have what's called the family pack. It comes with six tandem cards which it comes with six of these guys and you only need two cards to set up one wallet. So with six cards you can set up three different wallets and that would cover all your bases. You'd have your main uh you could have your main two cold wallets. These would be your your storage wallets or your your vault wallets. Um, you could use those to diversify your crypto. You know, those would be your two safety wallets that you only hold crypto in. And you would still have a third one left over that you could use as a more risky wallet for things like staking and swapping and stuff like that. And the cool thing about Tandem and why it's so user friendly and why beginners like it is because you can manage all of that in one app. You're not using different apps. You're not using, you know, a bunch of different things. it's all confined into one app. They're all secured by their own seed phrase. Um, so the family pack is is in my opinion the best deal they have going on right now.
By no means do you have to get that, but if you are looking to diversify your crypto, um, I'd say it's one of the best. And I'm just going to share my screen here and show you what the heck I'm talking about. The second set 50% off. So again, you're getting um, two packs of three cards. This will allow you to create three wallets. Also, just a note on this, besides the two entries that you get for the giveaway, this is actually 50% off plus an additional 20% off on the first set, which makes it only 90 bucks. Um, and you can choose your second set, what it looks like, like they have different designs. Pretty cool. But again, all this stuff is all linked is down in the description if you want to take advantage of that.
If you need help choosing a hardware wallet, now would be the time to ask me.
I'm definitely happy to help kind of troubleshoot what wallet might be best for you. Uh, but again, Tandem supports some of the most crypto cryptocurrencies on the market. They support all the popular ones, Bitcoin, of course, Ethereum, Salana, XRP, XLM, HAR, um, a bunch of different things. So, now would be the time to do it if you're going to to get a harder wallet. Also, if you already own a harder wallet or a tangent wallet, um, and you haven't diversified your crypto, this is a good opportunity to diversify your crypto so that you don't end up like Brandon Laro, which is a story that I'll probably use forever because it's just it's it's a sad story, but it's just the reality of if you don't um use your hardware wallet correctly and if you don't diversify, a lot is at stake. the $3 million in XRP that Brandon lost was his and his wife's it was about over 95% of their their retirement fund. So, they're both retired uh 3 million in XRP all gone uh in a day. We don't know exactly how it happened. Uh at first, he had imported his seed phrase into a hot wallet making it, you know, no longer secured by the cold wallet. And at first I thought that was a reason that he had lost it like maybe his iPad got hacked and someone hacked his hot wallet but I think later on he mentioned he has signed a a transaction approval which is what I was talking about earlier. Um so if he had signed that with his his cold wallet basically what had happened is he created that back door invited someone into his wallet essentially and they were able to take all $3 million. That's the more likely uh outcome. So but let me jump over to the chat here. I'm sure we've got a lot of people being like, "What the heck? Where is this guy?"
Because I had some internet connections, uh, some internet problems earlier.
Um, but Ally says, "Skrilla is up with my coffee, eggs, and jam." Yeah, I woke up at right before 5:00 a.m. today.
Wanted to do this live stream earlier, but had those dang technical difficulties. Um, also, what is my what's my thoughts on gold AU versus Bitcoin and scarcity? Which follows the law of scarcity more in your opinion? I don't know enough about the the gold AU.
Um, Bitcoin, I mean, you know, Bitcoin is a is a set supply. There's, I believe, 21 million bitcoins that will ever exist that are still being mined.
Um, and, you know, more Bitcoin can't be created. Some of that Bitcoin is already lost. So, you could argue that the the supply is actually less than, uh, originally, you know, thought. So, um, I don't know. I don't know enough about the the gold AU, but I would I think a lot of people are on board that Bitcoin is the the digital gold essentially.
It's a store of value. So, that's kind of where where my belief is as well.
Night Drifter says, "Invest in both gold and Bitcoin if you're able to for diversification. Gold has better staying power because it's a physical and very limited." Is it though?
Is gold limited? How how do we know that gold is limited?
the the planet we live on is massive.
There could be a mine somewhere that, you know, there could be an insane amount of gold just sitting under the ocean. Like, we wouldn't even know it.
So, it's like, what happens if one day that's discovered and all of a sudden, oh, you know, gold's not even it's not rare anymore. Sorry, guys.
Um, I don't know. There there's always an argument. I think uh I think the the thing that gives anything value is if we as society decide that it's valuable.
Whether that's a meme coin, whether that's Bitcoin, whether that's gold, whether that's a piece of paper with with, you know, a president's face on it. Ultimately, society decides if that thing has value or not. And it's really that simple.
You know, that's why we that's why we've seen like Trump's meme coin go to a billion dollars. uh because at one point a bunch of people decided that was it was worth that much. Um so that's kind of like the simplest way to look at it.
LT man, what's going on brother? Uh what are my thoughts on SoFi account or Fidelity account? I was thinking about opening an account and holding only a couple cryptos on it. My question would be why would you want to do that? Um is there something you're getting from those accounts that you can't get in a cold wallet? Because again, if you're using SoFi or Fidelity account, you don't that's not actually your crypto.
You don't control it. You don't own it.
Um they can they can close your account.
They can freeze your funds. The state can can take your crypto. Actually just got a letter from an old bank account that I have that uh if I don't respond to them, they're closing my account and the money in that account is being sent to the state. I just got that letter Friday, I think. Uh the same thing is applies to your crypto held on any centralized exchange whether that's a Coinbase or a SoFi account uh Fidelity.
So yeah, I would the question would be why would you want to do that and what are you getting that you wouldn't get holding your crypto in a self-custodial wallet? I'm not going to say that's wrong. I will say personally the only way that I hold crypto is using a self-custodial hardware wallet. Um, I don't think like any of the rewards that you can earn on like Coinbase, whether that's like yield on USDC or staking, for me, none of that is worth the giving up control and security of my crypto.
Um, so that's kind of my thoughts on it.
I wouldn't do it and I don't do it if you have some kind of of if there's some kind of benefit in it for you that you believe outweighs the cons of giving up control. and as a result security of your crypto then you know sure maybe you want to put a a small amount into it. Um and like you said it looks like you're thinking about putting a couple of cryptos on it. I'm assuming that means like a only a small portion of the crypto you own. So maybe you know it's 10%. I think if you are going to do something like that it would be smarter to do a smaller amount not your full amount. But personally for me, I'll I'll never I'll never do that.
Um, Night Drifter says, "I follow what the Skrilla guy recommends. This that is Kraken for buying and selling crypto and then storing on a cobalt at like tandem.
Think you might have difficulty moving crypto out of SoFi or Fidelity." That's another good point. A lot of like a lot of the the crypto IAS, those platforms will allow you to buy, sell, and even trade crypto on their platform. But if you ever want to remove your crypto from the platform, you can't. Uh you would have to sell it for for fiat and then if you wanted that crypto, you're going you're going to have to go to another platform, buy the crypto there just so that you can send it to like your hardware wallet. So that's also something you want to look into. Uh I don't know if SoFi allows you to send crypto externally like to your hardware wallet. Um, but I do know like something like iTrust Capital, I don't believe they allow you to send crypto uh to your own cold wallet. So, definitely a good point and something you want to look into.
Um, Ally says, "I am not Skrilla, but Fidelity is solid stuff and yes, they offer crypto and gold ETFs as well as IAS and the ability to flux them between spendable accounts fairly quickly." Um, again, that's not actually your crypto though.
It's a it's a digital receipt, right?
It's it's a it's an IOU. So, if you ever want to take your your crypto off their platform, that's the amount that you see in your account on those platforms.
That's what they would owe you. But that is not your money. That is not your crypto. The only way you can own crypto is by owning the keys that control the crypto. And if you're using anything but a self-custodial wallet, it's not your crypto. It's really that simple. That's why I'm That's why I am so uh I'm all in on self-custody. One of the main reasons that that Bitcoin was created was was because it's decentralized. It allows you to move money freely in a in a 247 market. You don't need a middleman to tell you what you can and can't move.
There's no one that can freeze your accounts. Um so what these exchanges and and you know banks like SoFi are coming in and doing is they're saying, "Hey, we have a better option. Our platform is easy, it's secure, we'll pay you to hold crypto on here. Uh obviously because they want to charge you fees and make, you know, billions and billions of dollars. They want their piece of of this new technology. Um, so to me using an exchange or or like an IRA account or something, sure there are some benefits, sure you can earn rewards, but it's going against the main reason that a lot of people believe Bitcoin was created for, which which was an escape from the current um financial system that that we're all a part of.
So, by just going back to the the same by going back to the Coinbases and the Sofi, you're you're just going back to the same system that that crypto was created to to get out of to escape from.
Um, and again, I don't I'm not saying that's right or wrong for me. It's not something I want to do.
Uh, everyone has different goals, though. So, um, Night Drifter says, "The cyber squirrely guy can try restarting his computer, maybe to help get things working." Trust me, I tried everything.
I restarted my computer. Um, I went and blew on the the router and everything.
Nothing was working, but we got it.
That's all that matters.
Uh, Bitcoin whale moves 40 million in Bitcoin from dormant wallet since 2017.
Oh, the mystery.
Yep. I'm sure a lot of people are just waiting for their time. Esotera says, "No worries, Cyber Squad. We will be here when you get it situated.
Appreciate your insight and effort."
Appreciate that. Appreciate you sticking around. What's going on, Ma?
Um, yeah, that dang internet connection.
So, I have someone coming out to fix the internet tomorrow, but it looks like I might have to get a new job and become an IT guy at the internet service provider because I already fixed it. So, I think I'm going to cancel that appointment.
Uh let's see.
Essotera says, "I want to apologize for being demanding and short. You have done a lot for our community and I should be more spec respectful of your time and effort. Please accept my apology." Uh Esotera, I think I skipped a comment here. Um I set up multiple tangent wallets using your links. Feels great to be prepared. Armed with good information, Esotera, I'm not sure what you're referring to exactly, but um no hard feelings. I I already forgive you.
So, let's see.
Let's see.
Um, Howard says, "Will I make a review of the Salana Seeker phone?" So, I was going to make a review of that phone. I have the phone. Um, honestly, it's just such a piece of crap. I didn't even think it was worth reviewing.
Um, I don't I don't like it at all. I think it's a terrible phone. It's not I wouldn't use it as a phone. I mean, it's, you know, it's advertised as like a crypto phone. Um, I would just rather use a hardware wallet and and an iPhone. The Salana Seeker, I think it's it's not good. I already didn't like Android and then you mix in like a crappy phone like the Seeker and it's just not something I would recommend.
Car Caroline says, "How can I share this?" Um, there should be if you just copy like the your website URL, you could literally just send that to whoever you're trying to share it to.
Uh, Mika says, "Do you remember that I keep my assets on a hot wallet on my PC turn off temporarily? I had them on the hot wallet for 9 days and nothing happened so far." Ma, um, that doesn't mean anything. The fact that you have a on a hot wallet is the risk. Simply turning off your computer also doesn't mean anything. Um because the moment you power it on, let's say your computer is infected, the moment you power your computer back on, it could drain your wallet if it were compromised. Uh I would stop gambling with the whole hot wallet thing. You're just you're just playing with fire at this point.
Just because something doesn't happen in 9 days doesn't mean that it's not going to happen in the future. Especially if you're um using that computer to do different things. Huge risk. Again, you're playing with fire. I don't see um I don't I don't I don't understand why you would use a hot wallet to store your crypto when you have an an obvious option. A computer or even a phone powered off with a hot wallet app is not even close to the same thing as a dedicated hardware wallet. Uh phones and computers don't have the same same type of secure chip. They have secure chips, but they are not um they're not built specifically for cryptography and to protect the keys to your crypto. The chips that are used in in a ledger in a tandem, they are EAL rated, which just means they've been tested. Um they've been reviewed and they are secure against specific cryptographic hacks.
And it's the same kind of technology that they've been using in the financial industry in in you know different banking cards, credit cards, and things like that. Uh so these chips have been hardened for the past 30 to 40 years.
Again, you're not getting anywhere near the same security using a computer that's powered off. Not even close to the same thing.
Uh let's see. Steve, can you please show me how to download my Visa card on my Tandem? Mini thanks.
Um, I can't show you because I don't have access to Tandem Pay in my area, but if you have access to it, Steve, you should just be able to open up the Tang app.
Uh, select your wallet and let's see.
On mine, it actually just pops up, right?
It kind of just pops up in the middle.
um someone I someone else might be able to better assist you with that who has who has used Tangent Pay because again I don't have access to Tangent Pay so I'm very limited on the information that I have on how it works unfortunately. Once I have access to Tangent Pay I'll make a full video showing you how to use it.
Um Brian Baker says, "I purchased a Tangent wallet and downloaded the app.
Is it okay that I created my Cphrase before I received my cards in the mail?
No, that's not okay. You didn't do it the right way. Uh, that means you set up a hot wallet. You need to you create the Cphrase with the cards. So, the fact that you set it up without the cards means you're using a hot wallet. Um, so I would hopefully you haven't put crypto on there yet. I would completely delete that wallet or just uh delete the app.
And once you receive your cards, you need to press the button that say that says scan card or ring. then you need you need to scan one of the cards and go through that setup process using the cards because right now what you have is not as secure as a tangent cold wallet.
So be very careful.
Uh Cobra says do they have access to all accounts or multi multi-account wallets?
They would have access to so each each receiving address in your wallet has its own private key. So, like if you sign a transaction approval using your Ethereum account, uh that entire account would be at risk potentially.
So, Ally says, "I went with the Treasure Bitcoin only plain and boring." Whatever works for you. Again, I'm not a fan of Bitcoin only wallets because I hold more than Bitcoin, but if if you know Bitcoin is the crypto you hold and that's all you want to hold, then a Bitcoin only wallet would make more sense.
Uh, the kid says, "Just tell people the truth that nobody in crypto is actually going to help you. You have to learn with tutorial videos." Um, yeah. I mean, I pretty much say that every live stream. The reason I host these live streams is because I I'm one of the only people that offers live tech support. If you're if you're reaching out to a crypto exchange or a hardware wallet company, it's usually through email and the support is terrible. You'll probably have to wait a few weeks. Uh, but yeah, when new stuff comes out, you got to figure it out on your own. That's how it goes. Um, I mean that's that's life, right? So, but yeah, there's lots of you have to use your resources. There's nothing wrong with tutorial videos. Um, that's how I've built this business basically. So, let's see. Five to five 552 man. How is tandem customer support?
I would say it's it varies. A lot of people will tell you that they're slow to respond. Um, and then I've had other people told me they've received a response the same day. I have reached out to Tangum several times and not as an affiliate but as just a customer.
Um, and they one time they replied same day. Um, that was once and then the other time I reached out to them I think it took them like three business days to respond.
And that's that's directly through their email. But you can also you can also get a quicker response by commenting on um like their social media accounts. Like recently I commented on one of their YouTube posts. I got a response I think the next day about a question I had uh when will they support Tangent Pay in other states. Got that response pretty quickly. So it kind of depends. They also have a Discord server where you can open a ticket. I avoid Discord as much as I can. though I don't use that but um it varies for sure.
Um OK McFly says, "When will you be launching the Cyber Skril wallet?" Yeah, the Cyber Skrilow wallet that I announced on April 1st was an April April Fool's Day joke. Um so no Cyber Skril wallet in the works right now.
Off the Great Hero says, "XRP and XLM on Ledger doesn't have the same spending problem that Ethereum does." Um I I guess I don't know what you mean by spending problem.
Also be very careful using chat GPT Gro Gemini for your crypto questions but especially crypto wallet questions. Uh I use it daily and I will tell you that it is very very inaccurate especially if you don't know how to use LLMs and provide it the right context. You're going to get wrong answers all the time.
So be very care careful with um with the LLMs like Chat GPT, Gemini, Croc because they will lead you astray.
Uh is it safe to use the new multi-address feature, have one stake and one for savings on the same card?
It's not going to give you the same result, I don't think, because even with the multi-count, you're still using the same seed phrase. So, if you're looking for true diversification for the sake of security, you would want two different wallets that have two completely different seed phrases. Um, if for ultimate security, that's what I would do.
Um, Kathy says, "Is there an insurance company that is offering crypto insurance for losses and theft?" Um, no idea.
Not sure about that.
Would be very costly, I'm sure. Author Hero says, "I don't know when things are volatile. I might rather swap on Ledger, let's say for XRP to USDC or XLM to USDC than send to Coinbase." Yeah, you can definitely do that. I would just say um you know, be careful doing that with your main cold storage wallet because if you're swapping and it and you use a decentralized exchange to do that, again, you're you're essentially opening up a back door.
Um Ally says, "Ledger is elegant.
Treasure is paranoid proof in my opinion. Ledger and Treasure, I'd say they're they're equally secure. I mean, Ledger is um they have one of the best security teams in the space. They they work with, you know, all the wallet companies to to find vulnerabilities and and report them responsibly to each company so that they can fix them. So, Ledger, Treasure, you can't go wrong with either of them uh security-wise.
Um, using seedless tandem, does that fall under it not being my key? Yes and no. So, it's still a self-custodial wallet, meaning no one knows your key.
So, no one can no one can still access your funds, right? They don't have your key, so they they can't freeze your funds. They can't take it. They can't lock your account because that key is only stored in the card, which only you have access to. On the flip side, you also don't know your key. So, if you lose your cards, you lose your crypto.
Uh, that's why I don't personally like using my Tangent wallet without a seed phrase. The seed phrase is the master key. If you don't have that and you lose access to your hardware wallet, whether that's Tang or Ledger, then you lose access to your crypto. Um, so you you have the benefit of the control like no one else can control your crypto, but you have the disadvantage of not knowing your seed phrase, which means again, if you lost all your cards or they all, you know, lit on fire and blew up, you just lost access to all your crypto. Whereas, if you have a seed phrase, you can at least create as many copies as you want.
Uh, what I like to do is put it on a metal sephrase plate. This will last a lifetime versus any technology is not going to last you a lifetime.
Um, John, what's going on? John? John says, "I'm not good with technology, but I learn Tandem pretty quick." Yeah, I mean, I think exactly. There's a wallet out there for everyone. Some more techsavvy people might enjoy the challenge of a more advanced wallet where um, you know, the less techsavvy just want something that's easy and enjoyable to use, like a tandem. So, it's a good point.
Cryptoenjoyer says, "Got my mom a tang for Mother's Day. going to give it to her today. Nice. Hope she likes it.
Going to show her uh USD USDC transaction plus the free Bitcoin. Super cool. Um super cool gift. And what's even cooler is you're actually showing her how to use it, which is just as important as the cold wallet itself. So, uh props to you.
Uh let's see what's going on. Chris Whiskeyer says, "Hit that like button.
Do it now." or I'll or I'll have another internet outage.
Uh selling titahiti, what's going on?
Would you ever recommend leaving a tiny amount of crypto? Example, $5 on an exchange. Uh thanks for your wisdom. Uh again, my question would be why? What's the point of leaving $5 on an exchange?
Um I don't I don't see why you would need that or what that would do or I just I would I wouldn't recommend it because I don't see a point in doing that. So, uh, how would you how would you know whether you've signed a contract when swapping? Um, depending on what network you swapped on, you could connect your wallet to, uh, revoke.cash.
And there's a video on their website that shows you how to use it, but it'll tell you all of your open contract approvals. And you would basically just select that contract, and you'd hit the revoke button. You'll have to sign another transaction, and that will revoke the contract. that will work for like Ethereum and all the EVM networks.
So like Bass, BNB, uh all those different things.
So that's one of the best ways to check.
Essotera, uh when transferring crypto from one tangent to another in the app itself, are there any backdoor vulnerabilities of selecting available wallet instead of copy paste?
Um not not sure what you mean. um to send to send crypto between two different wallets. Like if you have two different wallets with their own seed phrase set up in the same app, you have to copy the receiving address.
So that's the only that's the only way I know how to do it. I don't see how there'd be any other way.
Um let's see.
Uh, can you give away your Bitcoin to a relative overseas tax-free country after paying all the tax? I mean, you can give your Bitcoin, you can send your Bitcoin to however you want. Uh, it's Bitcoin.
You can literally transfer it anywhere in the world. As far as how the taxes works in different countries, I don't know. I know each US citizen is allowed a certain amount to to gift taxfree. And I believe, don't quote me on this, but I believe that amount is well over 10K. I think it's like 10 or 15k. Um, but I am not a tax professional and I'm definitely not aware of any uh tax laws or regulations outside of the US. So, I'm not sure.
Brian Schneider says, "I've been pounding on my friend to get his stuff off Coinbase for months. Did you Brian, did you show them what or does was he aware that Coinbase shut down for Well, they didn't shut down, but they had an outage for over seven hours the other day. That might be worth uh sharing with them.
Like Whiskey Rither said, he's going to find out the hard way eventually.
Um, yeah, Bless 7 says, "Hey there, Cybergorilla. Thanks for always sharing info. Can you confirm with Tangent Wallets if sending Bitcoin or crypto? I was told that Bitcoin address does not offer a multi-sign addresses. Uh, I don't know what a multi-sign address means. I think you just mean multiple addresses. Uh, Bitcoin uses static addresses. So unlike a wallet like Ledger or Treasure where you get a you can get a new Bitcoin receiving address every time, Tandem currently only offers one Bitcoin receiving address. So I think that's what you mean.
Uh let's see. Do you use a Salana Seeker phone? Will you make a review of it? I don't use a Salana Seeker phone and I will not make a review of it. Uh Paul Brown, I have Tandem cold wallet but having problems sending uh crypto.
Um Yeah, Paul. And I see that you're subscribed to the channel. I appreciate that. But I would need way more info to even begin trying to troubleshoot that.
So, I would need exactly step by step what you're doing. Like, for example, hey, I'm trying to send XRP. First, I open the Tangent app, then I tap XRP, then I hit the send button, then I paste the receiving address. Like, I would need step by step what you're doing and where exactly uh you're running into the issue. That'd be the only way I could try to troubleshoot.
Um, the store around a corner says, "Let's go crypto. Let's go." Absolutely.
U Brian says his friend has 50K XRP on Coinbase. Super scary.
Off the grid hero. Do you think if you make big amounts of money in crypto to look into trust and LLC for the protection of your assets and what you end up buying and investing to keep that in a trust and LLC?
Um, I don't know. I'm not hold on the the whole LLC and trust thing personally and I think a lot of people are kind of confused how it works. Like if you just get an LLC and you put your crypto into that LLC, let's say someone comes after you personally, uh the LLC just becomes another asset that they can come after. So just because you have your crypto in an LLC doesn't mean that it's protected from personal liabilities.
Like if if you know someone comes and they for whatever reason they sue you, they can they can just go after your LLC and anything in it. Uh, so you have to be careful with, you know, what exactly you're setting up and how you're structuring it. And I, we had an attorney on and he was talking about this. An LLC is more to contain what's within the LLC. For example, if you had a uh, you know, if you had some real estate, let's say you had a property in your LLC and someone slips and falls on that property and they they crack their head open and they sue you. They can't come after your personal assets. They can only come after the LLC. So, the LLC is used to contain um like lawsuits within the LLC. It's not the reverse.
Again, if someone comes after you personally, they can come after your LLC and the assets in it. So, um Uncle Live says, uh on a declared day, okay, do you have a basket of crypto you own or do you keep that in house?
Uh, don't know what you mean.
Ma says, "You don't recommend staking stable coins like USDC, USDT, or U, uh, EURC, and treat your wallet as high yield savings account despite the interest rate you earn." Um, I just don't personally do it.
So, and you're probably talking about earning yield. Earning yield and staking is completely different. Um, but to your point there there's always going to be a risk with like staking or maybe even earning yield because you're locking it into a contract. Now, the risk is, you know, it's very low risk, but you have to consider So, you have to consider the risk like it could it could eventually like with staking you could experience what's called slashing where the the validator that you're using is is punished because of something it did wrong. as a result, you could lose all of your your staked crypto.
Doesn't happen often, rarely happens, but it can happen. Um, but you also have to consider the fees. So, whatever you're using to stake, whether that's Coinbase, that can take up to 35% of the rewards you earn. Um, Tandem takes, you know, the cold wallets will take a fee as well, but you have to look at all the fees. So, there's going to be uh fees for any rewards you earn, and then you're also going to have to pay income taxes on any of the rewards you earn.
Um, so if you stack the risk combined with all the fees that you end up paying uh in and the taxes, you really have to ask yourself, was it worth risking my crypto over? To me, it's not. And it and it's kind of a double-edged sword because also, it's definitely not worth it. If you're only staking like$500 or $1,000 and you get like a 5% APY, what are you making? Like 50 bucks a year before taxes and fees. um this is not worth it. And then on the flip side, let's say you had $100,000 and you know you wanted to earn a 5% APY. Sure, you could earn, you know, up to $5,000 a year, but then again, you're going to have more fees. You're going to have to pay that'll increase your income. So, you're going to pay taxes that could potentially put you into a higher income bracket. and you're also risking that $100,000 because you're locking it into a contract. Um, so it's not something that I do often. I don't I don't think it's worth it.
I think there are better options out there. So, let's see.
Paul Brown, again, I would need way more info than you have an Android phone, have XRP, and a tangent wallet.
Can you not close the back door? Says the round and store corner. uh you can, but the thing the thing with signing a contract with your hardware wallet, if you're using a reputable platform, that's one thing, but most of the websites in crypto are scam sites. So, if you sign a contract with your hardware wallet and it's a malicious website, your crypto is instantly drained. It's already too late.
So, to just completely eliminate that risk, that's why you want to use separate wallets. Now, let's say you're using a reputable platform like unis swap and you just want to make sure that you don't have any back doors. Then again, you can connect your wallet to something like revoke.cash.
See any any contract approvals you have and revoke it. That's an effective way to do it. But that's assuming you're only using reputable platforms and you're not messing around with super risky websites, which most people do.
So, malicious contracts live all over the internet and it's instant. The moment you sign that contract, the moment you hit that approve button and then you refresh your wallet, your crypto is gone. Um, that's why I say stop using your main cold storage wallet to sign transactions. You can send crypto with it. You can receive crypto with it. That's about it.
Uh, James Wright says, "Having issues buying directly from Tandem, even using the debit card as you suggested. Any tips on what I'm doing wrong will not work with Apple Payther. have just been using Kraken then transfer.
Um it might just be like whatever if you're using Moon Pay for example, maybe Moon Pay isn't available in your area or where you live. You could just like Google that, you know, is Moon Pay available in New York or wherever you live. Um you might also want to go so whatever when you click that buy button, James, it should it pops up at a third party website, right? whatever platform that is, you can go to their website and try um logging into the account that you created through your Tangent wallet. Or if you haven't even gotten that far, you can try creating an account. And basically, you need to set up your account before you're able you're able to buy crypto. That might help do some KYC and things like that. That might be the issue you're running into. I will say though, I still prefer buying crypto directly on Kraken and transferring to Tandem. You're going to get lower fees and and better rates. So, I would prefer to keep doing that, but I understand wanting to have the option of buying directly in Tandem. Uh, again, you're going to have to get that figured out with the likely with whatever exchange that's popping up when you hit the buy button or also double check that it's not um an issue with your bank.
Uh, because I know with certain banks, you know, you have to approve uh certain transactions. So, like for me, I receive a text message, hey, you know, so and so was trying to spend $500.
U you know, reply yes to approve this transaction and then try the transaction again. So, it could be something like that. You might have to call your bank and and see if they're blocking it.
Uh let's see. Essotera says, "What if the cold wallet itself is hacked on the back end through an unknown back door?
Are there any hardware wallets that have 100% open source coding for complete transparency?" Yeah, there's plenty. Um, again, Keystone, Treasure, One Key, those are all 100% open source.
Uh, Michael, uh, Skrilla, thank you for all the hard work. You help me so much. I appreciate, uh, appreciate your support and you being here.
Gold has many real gold has many real world use cases. Manufacturing, jewelry, medical.
I mean, sure, but we don't need jewelry.
I mean, again, the only reason people agree that gold jewelry is valuable is because we say it's valuable. If we woke up tomorrow and the majority of society was like, "Gold kind of sucks." Then it doesn't have value anymore. As far as medical supplies, I'm sure they could use something else.
Titanium.
Uh, the store around the corner says, "Also buy directly from the manufacturer." 100%. Anytime you're buying a cold wallet, this is a great a great point. Thanks for pointing that out. Um there recently even there have been uh reports of people receiving fake ledger wallets. So if you're ordering your wallet from thirdparty websites, you do re you do risk receiving um a a compromised wallet. So usually what they'll do is they'll actually get a real wallet and then they'll open it up and you know they'll change something in the wallet to compromise it. and they can even insert their own little, you know, pamphlets with their own website and stuff on it to scam people. So, yeah, purchasing directly from the manufacturer is huge. Um, I also would go as far as to say don't purchase on Amazon if you can help it. Definitely don't purchase on eBay or Facebook Marketplace. Uh, you're just asking to get scammed there.
Plus, the the websites, the manufacturer, they generally have the best price and the best deals that you won't find anywhere else. So, it just makes sense to order from the manufacturer even if you have to wait a little little while longer. Um, again with Tang and Tang's a good example right now on their website right now there's 20% off the entire website which is huge. Uh, plus you get free Bitcoin with any wallet that you purchase. It's between $5 to $20 depend one you get.
But this is the So, for example, all this is on sale and the link to this wallet is down in the description of this live stream.
This is my by far my favorite hardware wallet and a favorite here on the channel. But the best deal they have going on right now is this uh second set 50% off. So, with this, you get two uh two threeacks, which is six cards total.
With these six cards, you can set up three different wallets in the Tang app and manage them all. It's super convenient. You can also transfer crypto between each wallet. Uh but this is what I would re recommend doing if you're getting your first hardware wallet or maybe even if you already have one and you want to diversify.
Um because not only are you getting 50% off the second set of cards, but you get an additional 20% off the first set using these two codes which are automatically applied using that link.
Um plus you get $20 in free Bitcoin plus you get free shipping. So this is essentially $70 if you include the free Bitcoin. This is like $70 for three wallets. Also though, if you do the second 50% off, they get you double entries into Tang's giveaway that they're doing now. Um, entries are started May 5th and it's going to June 5th. And there's a 100 different prizes to to uh to win potentially. So, the top prize is $5,000 in Bitcoin. Then you have some iPhone 17s. You've got uh other Bitcoin rewards. You've got like the tandem ring, which I'm wearing right now.
a bunch of different rewards. And all you have to do to enter this this giveaway, which ends uh June 5th, is buy a Tangent wallet using someone's affiliate link. Meaning, you can't go directly to the website and purchase a wallet. That will not get you entered.
You have to use an affiliate link. Uh my affiliate link is down in the description.
Uh but yeah, if you do the second set, 50% off, this gets you double entries into that giveaway. Um, otherwise if you choose any of their other products, you can see you still get the free Bitcoin, which is cool. Plus, you still get the 20% off and you get one entry into the giveaway. Um, but that's just an example of why ordering directly from the manufacturer isn't only a good idea to make sure you get a legit wallet, but you're also getting all the discounts plus, you know, anything any other promos they have going on. So, it's a good point.
Um, let's see.
Uh R. Pierce says, "I don't ever say what, how much, or where I have anything online in public forums." Very smart.
And you shouldn't. Can you stake crypto from a cold wallet and is it safe? Uh you can stake crypto from a cold wallet.
Most cold wallets offer staking for various cryptocurrencies. Tandem, which is a wallet I just showed you, uh offers native staking. Ledger has native staking. Treasure has native staking.
One key has native staking. Most hardware wallets are going to have native staking.
Um, is it safe? Yes, it's it's safe for a number of reasons. Uh, one, if you're comparing it to like staking on an exchange, you have you're in control of the crypto when you're staking it versus on an exchange. Again, that's not actually your crypto. It's held by the exchange. Uh with a cold wallet, you're the one who's responsible for the staking and the unstaking and um you know signing those those transactions.
But there's always risks with staking.
When you stake crypto, you are locking it into a digital contract. And when it's in that digital contract, it is essentially out of your possession. Uh, so even though the keys to that crypto is still controlled and secured by your hardware wallet, you're putting into a contract that if that contract had a vulnerability, it could potentially be compromised. Again, not something that happens often, but is something to be aware of. And then there's just the normal staking risks, which is mainly uh called slashing. Again, it's it's something that can happen to validators, which is what you do when you stake crypto. You select a validator, and that's kind of how you earn the rewards.
But if that's a bad validator, that validator does something against the rules, it can be slashed and as a result, uh people who are staking their crypto could lose their crypto. Again, this happens almost never, but it can happen. So, I don't want to say it won't happen, but it it is a possibility. Um, but if you were going to stake crypto, I do believe staking it through your cold wallet.
Uh, preferably it's a cold wallet that you use specifically for like staking or more risky stuff that that is the most secure way to do it versus doing it on like an exchange.
Uh, Colleen White says, "If I were to buy more crypto, what is the main one you would recommend?" Um, I don't I don't really do um I don't do like crypto recommendations or or investment advice here on the channel, but um I would say a lot of people would probably tell you Bitcoin is is like the safest bet because that's the the original one and that's kind of uh when people hear crypto, even when even like non-crypto people when they hear the word crypto, the first word that probably comes to mind is Bitcoin and that's more what people consider the the store of value currency. Um, so yeah, that's about all all that I that I can say there.
Um, Nick says, "Thank you for all your videos and insight."
You're absolutely welcome. Chris, how would one know if you have signed a contract when swapping on tandem that gives someone else the draw power? I believe I already answered your question. You can use something like revoke.cash to check. 79 Plton says, "If the government starts to take your crypto, it doesn't matter if you have it on a co wallet or exchange. As soon as you want to sell, you have to use an exchange and they will try to take it."
Uh, yes and no. First off, there are ways to sell your crypto without using a centralized exchange. You can sell it on a decentralized exchange um for a a stable coin like USDC. You could also use a peer-to-peer marketplace or you could find someone in your personal life who would accept crypto for cash. So, you don't have to use a centralized exchange to sell crypto. When I'm talking about the state taking your crypto, I mean that crypto is it falls within unclaimed property laws in all states and all US states. So for many of the states, if you leave crypto on an exchange and you don't touch that account for a number of years, whatever your state's unclaimed property um has determined is is the uh the dormcancy period. Uh for many states, it's three years. So if you don't access your crypto account for three years, the state will actually um reach out to the exchange and request that they send them crypto, send them your crypto. Uh because it is unclaimed property at that point. This has already happened to some people and um it depends on what state it depends on how your crypto is handled. in a state like uh California, if if you leave your crypto on an exchange and you're a resident of of California and you leave it on the exchange um you know until the dormcy period is up or whatever, they have the right to reach out to the exchange and the exchange will send that native cryptocurrency to the state of California where then you would have to go through the claim process. So, California will accept the the native crypto token um which I guess is cool, but some states will actually force the exchange to sell it for fiat first and then they send that fiat to the state and then um you would have to claim the cash the cash value. And that's what I'm talking about when I say like states can access your crypto if you keep it on an exchange. They have the right to claim it and then you have to go through the claim process. So, this has happened to people here on the channel already.
they've already received um notes that that their their crypto is being claimed by the state. And like I said, this this applies to crypto. This applies to your bank account. I just received a letter uh from US Bank saying that they are going to uh take the money that I that I have an account that I haven't touched for years and they're going to send it to the state. um not a big deal because it's 67 cents, but it is it does happen like it's if you reach that dormcy period, it's it's almost guaranteed. So something to consider. A lot of people hold crypto for many many years. So if you're a set it and forget it kind of person, you don't want to do that with an exchange because one day you're going to log into your exchange and your crypto won't be there.
Uh, Tang does not have Canton network.
Do you know who has that on a wallet? I don't know of any wallet that has that yet. I would imagine it will come though in time.
Um, B Collective says, "Is there a way to get your money out of Fidelity and move it to a cola and avoid taxes?"
I don't know off the top of my head, but I'm pretty sure the only way to get your money out of Fidelity is you have to sell it. If you're talking about crypto, you'd have to sell your crypto. Um, so you'd get fiat and then you'd have to go to another exchange, buy that crypto, and then send it to your cold wallet. I don't think you can send it directly from Fidelity. Uh, as far as the the taxes, you would be creating a taxable event.
Um, I guess you wouldn't. I don't know to be honest. I don't know how that would work exactly.
might be worth just getting a a tax adviser to answer that question for you.
They'd probably answer that for free. Or even reaching out to um Fidelity and asking them, let's see.
Uh Todd Schultz says, "What do you think about the Pier wallet from Algrand?" You never heard of it? I can look it up real quickly and tell you what I think.
Um, let's see.
So, if you're talking about the para algo wallet p a that is a hot wallet.
It's a self-custodial wallet, but it's a hot wallet. So, it's the same as like trust wallet, MetaMask. Again, you don't want to store your crypto on a on a hot wallet. That's not a secure way to do it. You want your keys stored offline.
The way you do that is using a hardware wallet.
Um, if you move crypto from a web 3 wallet that you just use for swap to a cold wallet, does that cancel any infinite contract that may have been approved with the web 3 wallet? No.
Also, there's just to be clear, there's there's no such thing as a web 3 wallet.
Web 3 doesn't exist. I know it's used in marketing a lot. It's just it's just a crypto wallet. Uh web 3 wallet confuses a lot of people, so I just want to make that clear. There's no Web 3 wallet. Uh if you move your crypto from a let's just call it a software wallet, like an app like MetaMask to a cold wallet, that does not cancel any contract approvals you have in that software wallet. No, but it it does. You are securing your crypto though by removing it from that address that sign the contract into your cold wallet. It is no longer at risk.
So, you're not you're not removing the approval from your your software wallet address, but you are securing your crypto by moving it to a new address. If that makes sense.
Uh Deep Ether says, "If they use the same technology as debit cards, aren't they open for attack? as the debit cards or the financial system have been attacked throughout the last few years.
Can't they be cloned?
Um anything can be attacked and everything is attacked. Uh that's that's not the question. The question is is it secure if it's attacked and um according to the data we have they they are secure. I don't know of anyone who's been able to um successfully attack an EAL 6 secure element chip.
But that's that's one of the reasons why a lot of these there's only very few uh secure chip manufacturers in the world.
There there's only a few companies that do it. There's like ST Micro Electronics. There's Samsung. There is um Infinion.
So there's only a few companies and a lot of them keep their code closed source or private because they've spent billions of dollars and decades hardening it. So that makes it uh a lot tougher for anyone externally to to even try to hack it. So uh let's see. Rodriguez says, "Cyber for privacy and extra security. I'm using Google Pixel phone with graphine OS. No more spying from Google. Can I install the Tangent app without Google Play?"
Um I'm sure you could. I don't know how though. I've never done that. But the Tangent app is 100% open source. Um, like you can you can get all the code from from GitHub, but I would just type that into Google uh like Tangum app on graphine OS.
See, the Tang app works effectively on Graphine OS. Users can install the app without Google services by downloading the APK directly from um GitHub or the Froid uh Aurora store.
Also, I think the I think the APK is directly on Tang's website. I think I've seen it.
Let me see if I can find it. APK app.
Let's see. App App Store.
App Store.
Let's see. download the app.
Yeah. So, if you actually go to Tang's website, just go to tandem.com and I like to use F like so you can search on the web page and if you just type in app or if you just scroll down, scroll down until you see the spot that says uh download the app. Click the download the app button and it'll say scan the QR code available on the App Store and Google Play or download APK.
So you'd want to click the download APK button and I just downloaded it onto my computer right now. Um so if you know how to do that, get it over to Graphine, then you can do that without using the store. So hopefully that helps.
Um let's see. Jacob says, "How about one Tang wallet with seed phrase as a vault and another tandem on the same app without a seed phrase as a wallet for interacting? Is this optimal?" I would just prefer to to know both seed phrases. I don't see why you'd have one with a seed phrase and one without.
You're not really adding any additional security by doing that. The only security you get by not generating a seed phrase with Tandem is if you don't know to not share your seed phrase with anyone. That's where that would excuse me, that's where that would save you.
as long as you know to never share your seed phrase or reveal it to anyone. Then using the seed phrase option in tandem is um is pretty good. So that's what I do.
Ultimately though, you can do you can do whatever you want. But again, I like to know my seed phrase.
Uh let's see. I have Ledger and Treasure. They are good, but I believe that it's important to use passphrase on top of the seed phrase. It's definitely a good option. The passphrase is a is a easy way to instantly improve your security.
Um, Raphael Archangel says, "Is it free?" If you're talking about passphrase, yes, passphrases are free.
If I lost my tangent wallet in my phone, but I have the seed phrase, I can still recover my wallet. Absolutely. Again, the seed phrase is a master key to accessing your accounts on the blockchain. Seed phrases are not wallet specific. So, even if you, you know, you set up your seed phrase with the tandem, you lost both your your Tang cards and your phone, you could either just buy a new, you could buy a new Tandem wallet, import your seed phrase into the new cards, or you could buy even a different brand like Ledger and import it there.
So, Sushi Satoshi says, "Robin Hood locked my account for 3 weeks after moving a little bit of XRP. I spent hours every day on the phone. It was so disempowering."
Dang, I'm sorry to hear that. And I've been through that myself and uh yeah, it's it's very frustrating.
Uh but it's a exactly what we're talking about here. Like if your crypto is not in a self-custodial wallet, it is not your crypto. If it was your crypto, you wouldn't have to uh you wouldn't have to be calling anyone. There's no middleman.
So that's why I'm all in on self custody.
Um let's see.
Uh, Michael says, "My English is bad, but I wanted to ask, is it safe to have cold wallets, uh, multiple cold wallets in one app?" Yeah, that's fine. That and your your English is fine, by the way.
But having multiple cold wallets in one app, that's not necessarily where the security comes from. The security comes from the physical cold wallet device.
So, the important thing is that you have, you know, um, like if you're using Tandem, you've got, you know, your seed phrase on this wallet and your seed phrase on this wallet. That's that's where the security comes from is having your seed phrase offline.
Um, Jim says that Tandem shows you a list of your other wallets, so you can just tap one and send it to another.
Gotcha. I didn't see that option when I tried it, but um I would nonetheless I'd always copy the receiving address.
It's It almost sounds like you're talking about m the multi-account feature where I'm talking about two completely separate wallets, but maybe you're not. Even then, I would always copy the receiving address and double check the receiving address. I wouldn't just um I would not rely on the app to do that like to just select the wallet for me.
Uh, Robert says, "CurrenC currently $19,000 gift taxfree annually." Nice. Thanks for looking that up.
Um, from uh or Frame says, "I connected my Tangent wallet for my first swap to Pancake Swap before knowing. Would you recommend transferring everything out to a new wallet? I've I haven't connected to anything since."
Um I mean pancake swap is for what I'm aware of it just what um with that since it is an EVM kind of thing depending on what you swapped like what crypto and what network you could just you could connect your Tangent wallet to revoke.cash. I'll drop it in the chat right now. This is what the website is called.
And if you go to the website, it'll show you how how it works.
But you can connect your wallet to this website. And you can revoke the the contract. I think that'd be the easier thing to do since you say you've only done it once versus, you know, having to set up a completely new wallet. Pancake Swap is a legit platform, so you know, I wouldn't say you're like at immediate risk, but I would do this as soon as possible. Um, so I would try doing that first.
Uh, can I reset a Tangent Wallet account that is Cless to make it a Cphrase?
Yeah, you you can reset it. You have to redo the entire process. Um, and there is a right and a wrong way to do it.
Basically, you need to transfer your crypto out of the wallet first, factory reset all the cards, go through the setup process again, and set it up with a Cphrase.
Um, but I have a video on how to do exactly that, which I can direct you to. uh tandem. If you just type it on YouTube, tandem missed seed phrase.
Let me show you right here.
If you go watch this video, set up your tangent wallet without a seed phrase quick fix. This is a video where I show you exactly how to do that. How to go from seed list to seed phrase. If you just follow the steps in this video, um, good to that's where I would start.
Let's see. Uh, Primo says, "I don't trust Tangent because a lack of security such as revoking any tra transaction for any reason in the app or any security feature. I still don't trust Tang ever the seed phrase leak last year. Um, lack of security such as revoking any transactions. Not sure what you mean by that. you can revoke a transaction in any wallet.
So, there's that. Um, and then the seed phrase leak. They never leaked seed phrases. It was uh it was a private key thing. Only if you had reached out to Tandem using the email support button in the Tang app. Anyways, that was a long time ago. And again, it wasn't seed phrases. There was a difference between a seed phrase and a private key.
Um, and that was fixed immediately.
But yeah, I mean the data shows that Tanga Secure, they've sold 6 million cards since 2018 without anyone losing crypto as a result of a hack. But to your point, if you don't feel comfortable using it, you shouldn't use it. So, I'm sure there's a wallet out there for you.
LLC will protect you from personal liabilities.
Um, I don't believe it would, but okay.
Just because again LLC when you set up an LLC it contains the the lawsuit to within the LLC if the LLC is sued. If you are sued as an individual an LLC is just another asset that someone can come after.
What's it carbon says? Can I transfer funds from base wallet to tangent col without a sephrase? Many thanks. Um, the answer is yes. I don't know the seed phrase part. I don't really know what you mean, but you don't need a seed phrase to transfer crypto. So, uh, James says, "Is Tandem, how do you convert crypto into USD or a stable coin? And what stable coin should you use?" Uh, to convert crypto to a stable coin, you can send your crypto to an exchange like Kraken or whatever you use. You can convert it there. You just hit the swap button and swap it for the the crypto. Um, that's one way to do it.
You could do it directly in the wallet app by using the swap button. Uh, if you're trying to sell it, then you would use the sell button feature and that will actually connect it to an exchange um where uh where it would then send that that sold amount to your bank account. So, you could swap it directly in the in the app for a stable coin. You could send it to an external crypto exchange to swap it for a stable coin. You could send it to an external crypto exchange to sell it and then transfer to your bank account or you can sell it from directly within your cold wallet um which will basically achieve the same thing. Sends it to an exchange and ultimately to your bank account. As for what crypto or what stable coin you should hold um I don't know the the two popular ones are USDT and USDC. The thing about those are they're both um they're both not decentralized. They're both issued and and controlled. they have an issuer like USDC is controlled by Circle. So just know it's not truly decentralized which means even in a cold wallet a stable coin like USDC can technically be controlled by the issuer. So just a heads up.
Oh, I think I skipped one here actually from Brian Baker earlier. I'm hoping to win the Bitcoin giveaway and started a and started a Discord, but don't want to miss the announcement.
Uh, Brian, you don't you don't need to be in the Discord to to hear the announcement. In fact, I would recommend I would recommend not being in Discord at all. Most people get scammed in Discord, even legit, because scammers live in Discord. Um, but I do I know Tang is announcing their I know they're announcing it live in Discord, but they're also going to publish a blog art article with all the uh partial order ID numbers and and initials. So, if you you don't have to be in Discord to see it.
Again, they're going to publish that article. You can just go read that article and see if you're a winner.
Also, all the winners will be emailed directly. Uh, so you're not going to miss anything. and I'll be sure to post the the article here on the channel once it's announced. So, help you out there.
Uh, and if everyone's wondering what Brian's talking about, again, Tandem is doing a giveaway started May 5th, uh, but it goes to June 5th. If you purchase a Tandem wallet using my link down in the description of this live stream between now and June 5th, you're automatically entered into a giveaway of over a hundred different prizes. The top prize is $5,000 in Bitcoin. Um, then they have some iPhone 17 256 gigs that they're giving away. They've got some Tandem rings, some other Tandem wallets, and some other Bitcoiner Bitcoin rewards. And again, all you all you do to enter that is buy a Tandem wallet using an affiliate link. If you don't want to use my affiliate link, that's fine. You could use someone else's. Uh, but my affiliate link is down in the description. That will also automatically apply the massive sale they're doing right now. they have 20% off the entire website. Plus, you get free Bitcoin with any of your purchase.
Um, that's not part of the giveaway. You just get free Bitcoin for buying a Tangent Wallet. And the way that that works is uh once you submit your order, you get the order email like when you buy anything online. Uh, but you'll get a second email that um has the instructions on how to claim your Bitcoin. So once you receive your Tangent wallet, you'll basically just follow the instructions, scan the QR code in that email and the bitcoin will be sent directly to your wallet. Uh just know it takes 14 days for the that process to complete. And the reason it takes 14 days is they don't want people going and buying a tangent wallet um and then instantly claiming the bitcoin and then returning the wallet. So they make you wait um a set amount of time. So, the link to that deal in the to enter the giveaway, just one link down in the description.
Click that, order a Tangent wallet, and you're automatically entered. You get free Bitcoin, you get a cold wallet, um, and you get to secure your crypto. So, solid deal.
Let's see, where were we, though? Where are we?
Ma the Gamerwolf says, "What does create a LLC for crypto mean forming a company?" Yeah, limited liability company um is is what that translates to.
Um Mr. Souljourer says, "Weble customer support just got back to me. They said wallet transfers aren't available at this time, but they're working on it."
That's scary.
Sorry, my dog is being weird, but that's uh that's not good to hear.
get your I'd get your crypto out of Weeble as quickly as you can. Uh Mika says, "If you keep your saving savings in high yield savings account, your account could be frozen, but it would not happen if you keep them on a cold wallet."
Yes, it's less likely to experience issues if on a cold wallet, but you're still you're still locking your crypto into a digital contract.
Um let's see. Hi, I would like to ask, do you know how to transfer money from engine wallet to bank account? Um, I don't I don't I've never used that wallet, but generally to transfer any crypto to a bank, you can't transfer crypto to a bank. You first have to sell the crypto and then you withdraw it to your bank account on file. That's the only way to get crypto to cash and then to your bank.
Um, Anthony Newton says, "Hey, Squirrellette, keep getting the message insufficient Ethereum to cover the network fee while trying to transfer from one wallet to another." Both tandem. Yeah. So, I mean, that's that's literally the problem. Uh, you are trying to send on the Ethereum network.
And the way crypto works is each network has its own native coin that's used to pay for transaction fees. So, Ethereum, its native coin is ETH. You need ETH in your wallet if you are trying to transact on that blockchain. So ETH is the the currency for that network.
That's how you pay the fees. So you need that in your wallet to pay for the fees.
So you're going to have to buy a little bit of ETH, maybe $5 worth, and send it to the wallet you're trying to send from.
Um let's see. Mika says only 15% of people in Germany are investing while other 85% still keep uh fiat money because there's no such thing as a 401k like in the US. If you keep 10 to 100k in URC, it may be worth it. Interesting.
I didn't know that.
Um Nola says, "Old paratrooper here. Got into crypto in 2020. So did I." Uh thank you for being one of the only honest people and telling it as it is.
Airborne. Awesome. I appreciate your kind words and appreciate your support as well.
Sailing to Tahiti says, "Thanks. Am old.
I meant to keep the account open. Uh $5 USD on the way to my cold wallet." Yeah, I don't think you need to keep crypto in the exchange to to keep it open. I could be wrong. Um if that was the case, then yeah, it would make sense to keep, you know, maybe just keep like three cents on there, though. Five bucks. That's like a Starbucks coffee, you know. So, but yeah, it's a good point. I didn't think of keeping the account open.
Um, let's see. Which network is best to use, high or low transfers?
Uh, I don't know exactly what you mean.
If you're asking what network for like cheaper transfer fees or I I don't know.
There's a lot that goes into that question. If you could clarify, I might be able to better answer it. Shannon says, "Can I purchase with the new tandem dealer my personal name and transfer later to an LLC trust or do I need to get an EIN or something first?"
No, the putting stuff into an LLC would come down to the paperwork that you are filing with your attorney. Doesn't matter who purchases it.
Uh, ma, if I leave my crypto address from other hot wallet, are my addresses for my savings account still be unharmed as long as I don't share them to the public since they are recorded public?
Uh, I mean, sharing your address isn't harmful. It just means people could could look at your wallet, but no one can do anything just knowing your public address aside from being able to look at your transactions. So, um, Janette says, "I think you can transfer out of Fidelity." I I could be wrong. I don't think you can transfer your crypto out of Fidelity. I think you have to sell it and only then can you take your money out of it. I could be wrong, though. Is it safe to stake using Tandem? Again, there are risks with staking in general, but yes, it is safe to stake using Tandem, but you should know the risks of staking before you stake.
Uh JB says, "I just tuned in and I like to say that only buy that only buy cold storage device with a touchcreen." In my opinion, I spent almost $300 on the Passport Core Stealth. Yeah, I mean I I agree that touchscreen wallets are nice.
That's another reason why I like Tandem is you can literally use your phone screen. Um I don't have any experience with the Passport Core. That is a Bitcoin only wallet though. think for a lot of people that wouldn't work for them because a lot of people are holding more than just Bitcoin. But I'm glad that you're uh you're happy with it.
Sounds like a cool wallet.
Selling to Tahiti says Coinbase says that the minimum bitcoin that can be sent is 0.00001.
Another reason to get zero out your ex to another reason to zero out your exchange. I guess my remaining $5 will be there a while.
Um yeah. Yeah, exactly. They have minimum fees and that's because they they pay the network fee for you. So they need to make sure it's enough. Um if you wanted to get f that $5 out, you would just you would just get that minimum amount that 0001 and then transfer it all out this time. So don't leave anything behind.
Deep Ethers says, "Thank you for all your time and information. I appreciate you being here."
Um, Christian says, "Really appreciate your work as a newbie and boomer. I learned a lot through your channel."
Super cool. I appreciate you being here and asking the good questions and um, just hanging out with us.
Bonnet says, "Not asking for a specific coin recommendation, but are there particular projects you prefer over others? Utility, infrastructure, governance." Um, the answer is yes.
Let's see. Christian Kurb says, "How would you judge BitBox O2 Nova?" Um, I've already I've done a review on the Bitbox and I actually have a video I think everyone should go watch if you're considering getting a cold wallet.
But I have a video where I reviewed literally almost every cold wallet I own. I tested over 30 wallets. The video is 40 minutes long and the Bitbox is included in that. I'll tell you right off the bat, I'm not a fan of BitBox. I don't like the user interface. I think there's a lot better options on the market that achieve the same thing and do it better. But if you want to see kind of my thoughts on that and and everything, just go watch this video. I tested every cold wallet so you don't buy the wrong one. Again, I reviewed I think 31 different wallets in this one video. And it's like it's it's not like a brief overview like I went in depth of what I like, what I don't like, and all the different features and things. I would go check out wallets.
Uh, Colleen White says, "Thank you for all your professional advice. Much appreciated." Absolutely. And I appreciate your support. I know you're a one of my top fans on the channel, so I really appreciate you being here and asking good questions.
Um, let's see. Let's see. Marina says, "Is there a cost when sending crypto from Tandem to another Tangum wallet?"
Absolutely. There's always a cost when sending crypto. has nothing to do with Tandem or the wallet you're using.
Crypto exists on the blockchain. The blockchain has transaction fees. So that's what you're paying.
Burf again doing great work once again.
Appreciate all you do. Thank you so much for your generosity always. Um Burf has has donated a few times to the channel now and um I really appreciate that. It means a lot. So, thank you so much.
Let's see here. Oh, no.
Uh, where were we? They locked my account for $40 transaction.
That's not cool. I'm sorry to hear that.
Um, Marina says, "Thank you. You're the only one explaining these concerns in detail.
Happy to help. Sunseeker says, "Hello, Skrilow. On tandem, when you chose a token and then you press on the three dots on the top right side of the screen, will you get the generate Xpub?"
Um, what is the generate Xpub?
Let me let me just open up my tangent app and see exactly what you're talking about. Select wallet. Select that. Oh, I think you have to actually go to crypto, right?
Uh, okay.
Uh, so it kind of depends. I don't know. I think they just put that option there in case you need the Xpub, which um it stands for extended public address.
Well, basically like if you're using um like certain websites like coin ledger which is which is a cryptot tax software for example sometimes to get your public addresses you have to use the xpub or the extend the extended public key. Um so I think for the for most people they probably don't need to know their xpub but if you do it's there for you. Uh but you can do things you can set up like watch only wallets on certain platforms.
Um but it's it's really widely used for like third-party tracking of your addresses. So again like coin ledger uh which is a cryptot tax software uses the xpub to uh gather all the data from your your receiving addresses so that it can generate reports. Um you could also use xpubs in like multi-ig setups.
But I think for the average person they're not going to need to know their xpub. But if you do need to know it it's there.
Um, let's see. Where were we?
Where were we?
Any banks adopting crypto blockchain?
Uh, SoFi allows you to buy crypto on their platform. So, there's that.
Uh, Pizza Zombie says, "Tang is 100 and so is your channel." Thank you, Carmen. You're welcome. Calico Jack says, "Thanks for always providing very clear and detailed info on the crypto industry as a whole. Any need to know info, good, bad, on an Arculus hardware wallet?"
I actually really like Arculus. Um, very it's pretty similar to Tandem, but they do have some some different features.
I would recommend type into YouTube Tandem versus Arculus. I I recently did a review video uh breaking down the differences, but definitely go check it out. Um, if I if I was like trying to get multiple wallets, you know, I would use both Ting and Arculus. I think they're both awesome wallets.
Um, but yeah, the thing about Arculus is it's one of the only Americanmade wallets. They're manufactured by Compost Secure uh in New Jersey and Compost Secure has been in the has been making financial cards for decades. Uh, so they they know what they're doing. The only main downside to Arculus is that it's everything is 100% closed source. So like Tandem, their firmware is closed source, but the app is open source. Whereas Arculus, the app and the the firmware and the hardware is closed source. That's the only downside.
I do like that it is made in New Jersey though. And it's also a metal card, which is pretty cool.
But it's really easy to use. Like Tang Marculus is really easy.
Uh, let's see where was I.
Night Drifter says, "I'm reasonably certain that a supercomputer running an advanced AI model will be able to break into Bitcoin blockchain and delete all the Bitcoin. That is why diversification is very important."
Um, I I kind of doubt that. It's not impossible, but the Bitcoin network can be upgraded, and that's exactly what they're going to do to make it quantum proof. So, um, it's not permanently stuck where it's at. They can increase the security. Have I tried EdgeWallet?
No. EdgeWallet is, as far as I'm aware, is a hot wallet, and I wouldn't I wouldn't use that to hold any crypto. You could use Edge Wallet for like your burner wallet or as like your risky wallet, but again, you don't want to hold crypto on hot wallets. That is not a secure place to hold crypto.
Edge Wallet, MetaMask, Trust Wallet, Phantom, Exodus. Those are all not places for holding crypto.
Um, let's see. VB Gold says, "Just tapping in."
You may have already answered. Was wondering, is it more secure to have a seed phrase with Tangent wallet? I skipped that with my Tangent. I like to have my seed phrase. Um, I'm not going to say it's more secure, but it it does allow you to access your crypto if you lose your cards. So, the main difference, if you don't have a seed phrase with your Tangent wallet and you lose all of your cards or they all get damaged, you lose access to your crypto forever. If you have your seed phrase, which is the master key to all of your accounts on the blockchain where your crypto lives, you can always take that seed phrase, enter it into a new wallet, whether that's Tandem or a ledger, and access your crypto. Um, so you are solely relying on the cards to access your crypto if you have a seedless wallet. Whereas with a seed phrase wallet, you also get to rely on the 12 or 24 words, which I store mine in a metal seed phrase plate. This will last a lifetime. Technology won't. So that's my opinion.
Um, let's see. Diesel power. Diesel power says diesel power says how to set up tandem seed phrase offline. I read there is a risk because it's set up via the app connected to the internet. Um so I have a video if you just type in how to set up tangent wallet offline. You just follow the steps in that video.
That said it it's not going to provide any extra security there. Uh there's never been an issue setting up a Tangent wallet while connected to the internet.
Nothing bad has ever resulted uh has resulted of that. the people who are telling you that that's bad or they're basically just theorizing and speaking it, you know, it could be bad just like you could about anything in crypto or anything in security. Um, if you want to set up your Tandem wallet while connected to the internet, nothing bad's going to happen. Your crypto is going to be secure. And during the setup process, your key is going to be transferred to your cards where it will be stored offline in a secure element chip and erased from your app.
So, but if it makes you feel better, you can set it up offline, but I would just go watch the video that I have on how to do that.
Anthony Newton, you are welcome.
Absolutely.
Uh Jay says, "Thanks for the passport core has push buttons. I don't recommend."
Yeah, push buttons are fun, but I do prefer touchscreen.
uh the network with the lowest fees. I mean, there's lots of them, but it kind of depends like what you're trying to do because if you're trying to send Bitcoin, you can't send Bitcoin on Salana. That doesn't really make sense.
So, um I mean, just some networks that have low fees like Salana has really low fees.
Um Polygon has low fees.
Yeah, I mean, lots of pretty much any EVM network, BNB I think, has lower fees. Ethereum even right now has lower fees because the the blockchain isn't busy. So, and Diesel Power just came in with the super chat.
Thank you so much, Diesel Power. That's my first super chat ever.
Um, so Yippy Kay, thank you so much. I didn't say diesel power correctly, though. You got to say uh diesel power.
Diesel power 1013.
Appreciate you. Very generous. Thank you so much.
Super cool. Got my first super chat. I won't forget that. Diesel power.
Uh, Tandem sounds great. Listen to Skrilla. Appreciate it. Is it possible to import any hot wallet to another hot wallet app for lower fees? Uh, you can import your seed phrase into any wallet you want. Yeah, absolutely.
Uh, but for lower fees, it kind of depends what you mean. Like network fees aren't going to change just because you're using a different wallet. So, if you if you use a MetaMask wallet or a Salana wallet, like the Salana fees are going to be the same. Now, if you're talking about the the services that they provide, like buying and selling, yes, the fees could vary depending on what providers are using. But for network fees, it's going to be the same across all your wallets because it's not dependent on the wallet. It's dependent on the blockchain network you are transacting on.
Uh JB150 with the the 499 um donation, thank you so much. You guys are way too generous.
Thank you. Really appreciate that.
Appreciate all your support today. and all of your great questions. Um, you know, your questions are are why I'm here and and why we're all getting so much value out of this live stream. So, I appreciate that.
Uh, Mika says, "Is it possible to import any hot wallets?" Already did that one.
What's this best exchange that you feel is okay? I like to use Kraken, but like I mentioned last week, you should have multiple accounts on different exchanges set up and ready to go. So, have a Kraken account, have a Crypto.com account, have a Gemini account, whatever you like. Have multiple accounts set up and ready to go. That way, if an exchange is experiencing downtime or you can't use it, like with Coinbase last week when they were down for seven hours, you have a backup that you can use.
Carmen says, "Thank you for your help with the with us newbies to crypto."
Absolutely. We're We all start as newbies. I was there before and back in 2020. I wish someone had I wish there was someone I could go to for help and I just kind of naturally became what I wish existed in that time for other people. So, um it's what I it's what I love to do and I appreciate your kind words. Ma, peace out. Have a great Monday. Thanks for all your good questions and thanks for always joining the live.
Um do you recommend to buy crypto from your tangent wallet or doing exchanges and then transfer? You can do it. You can do it either way safely. I prefer to buy on an exchange and then transfer because you're going to get uh better rates, lower fees, so you get more for your money basically. Again, like for me, I buy on Kraken and then I send to Tandem.
Um had too much to dream says, "A Bitcoin wallet could have more than one address. I have a minor using Sparrow software wallet. Should I mine a a coin?
It goes to the Sparrow wallet. How can I get on my Tang wallet?" Yeah. So, most wallets allow you to generate multiple Bitcoin addresses. In fact, it'll generate a new address every time you receive crypto. You can't do that with Tandem. Tandem uses static addresses, so you only get one Bitcoin address.
Uh, KYC means government UK. No, my default tangible wallet address.
I mean most most uh most wallet addresses are public. The the blockchain is a digital public ledger and each transaction is associated with an address. So your address is out there somewhere.
Andre Chandler says, "Is there any threat to having your crypto on a hard where on a hard wallet due to quantum computing?"
Um the harder wallet isn't it doesn't make it more or less secure in terms of quantum computing. The quantum computing threat is at the network level. If the network isn't secure, then your crypto can't be secured regardless of how you're securing it. Whether that's a hardware wallet, an exchange, a hot wallet, if the network is not secure, you can't secure it. So again, it all stems from the network and then from there like the wallet manufacturers would just implement the the new technology or the new upgrades to make it quantum ready or quantum proof. Do you travel domestically with your hardware wallet associated phone app like Tandem? I was caught with no access when KDA crashed and learned a massive lesson.
Yeah, absolutely. I've traveled I've traveled domestically with Tandem. I've traveled internationally to multiple countries with Tangum. Um Tang is the only hardware wallet that I'll ever travel with because of how discreet it is, especially if you get something like uh the Tandem ring. But even the card, you can just throw that in your wallet and no one will ever know.
So yeah, I I personally do.
So is it not true AI break cold wallet seed phrase? An AI AI has not or is not even nearly close to breaking uh cold wallet seed phrases? No.
Staking soul and tandem is that safe.
It's generally considered safe. But again, you need to know the potential risk of staking crypto in general.
Um, let's see. Cross Central says, "Does swapping on Tangent put all tokens in that wallet at risk if done on a DEX or after it's final? Nothing can be changed about the smart contract later. Uh, swapping crypto in Tandem using a DEX and signing one of those contract approvals would put that specific address at risk. So, if you're signing a contract approval on Ethereum, your Ethereum address would be potentially exposed. Um, if you wanted to basically eliminate that back door, that potential back door, you'd want to revoke the contract approval using something like revoke.cash.
Uh, that said, guys, I got to run. Thank you so much for everything. I'll catch up with you later. Peace out and God bless.
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