What'S Inside A Crypto Wallet?

What’s inside a Crypto Wallet?

Every morning I wake up, is the porcupine still there? I’ve learned some things and I may have lost one of my NFTs. Hackers! This is a very, very stressful video for me to make. I’m serious.

But a very important one. And I think a lot of you that are getting into Bitcoin or Dogecoin or Ethereum, or getting into NFTs, hopefully through this video, you’ll learn a few things that will help keep you safe from hackers!

That is the goal today! Yes, we’re going to see what’s inside of a crypto cold storage wallet! One of these. Boom, boom, boom. I’ve got a bunch of them. I went online and bought as many of the top ones that I could find. And in this video, we’re going to take one apart, see what’s inside of it. We’re going to talk about why do you even need this thing?

Or do you need this thing? And then we are going to hopefully transfer some of my NFTs or crypto over to one of these, so that it is safe from hackers or at least as safe as possible from hackers.

If you haven’t seen the video on our family channel yet, of my Tesla Roadster. The blue Tesla Roadster that you know and love, then spoiler alert right now! I traded that car for an actual NFT.

For one NFT, for Gary Vaynerchuk’s VeeFriends epic positive porcupine! One JPEG picture for my Tesla Roadster! It was a crazy thing to do. And as of right now, I have a little bit of regret, but not much. I really don’t have a big regret.

I am grateful for this transfer. I really don’t have a big regret. I am grateful for this transfer. But when you have a car, you obviously get car insurance. You put the car inside of your garage.

If somebody steals it, maybe your homeowner’s insurance or your car insurance is going to pay you back for it. And it’s not easy for somebody to steal the car. They would be out driving around, their license plate would be out there. The cops could track them down. With cryptocurrency and NFTs, unfortunately, when these things are stolen, which there are multiple ways for them to be stolen from you, there is no insurance.

There is no police that are stepping in. There is no SEC government or FBI coming in to find out who stole your $100,000 JPEG picture. They’re not going to do it. When it’s gone, it is gone. And if you messed up, with the way that you stored it, then that falls on you.

There’s nobody that’s going to help you. That is one thing that has been weighing heavily on my mind for the last week. Every morning I wake up and I go look onto my MetaMask. And I look to see, is the porcupine still there? I look at it and it’s there.

And I’m like, phew! It is there. But I have to do something to make sure that I am as safe as possible. And also I want to protect you guys.

One interesting thing about security when it comes to cryptocurrency and to NFTs is that when you get a wallet like MetaMask or Trust wallet, it doesn’t really ask you for of your personal information.

So basically you’re just kind of signing up for it as a person, but it gives you a code, a 12 word, interesting code of random selection of words.

And that’s like your passphrase. But the first hack that people do is sometimes they will take those 12 words in order and save them on their computer. And when a hacker goes into your computer, that’s one of the first places they look, they’re going to look for your key phrase, because if they find that, they can go into your wallet and actually take your stuff, your cryptocurrency and transfer it off. And when it’s transferred, it’s gone.

So this is an interesting thing. This is funny because you have to like etch them onto there. I bought this, but I don’t have like an etching tool. So, I guess I need to get an etching tool and I can put those on there. That way, if your house has like a fire or something happens, they’re saying this should keep your keywords good.

These little coins are the second thing. This is like a Bitcoin coin. And on the back, it has a QR code with your public wallet. You can go in and set this up and transfer your actual cryptocurrency to this. Sounds kind of fishy.

I think there are safer ways to do it. In all of the research, there are two brands that I found that sound like they are the two that most people support for the last three or four years. Ledger, and they have two different ones that I’ve found. The Ledger Nano S and the Ledger Nano X. I bought both of these.

And then I just went back onto Amazon, to the store for Ledger, and this one is sold out, the Nano X.

The other one that is very popular is this Trezor company. And they have a model T, which is this one, a model T version. And they have one other version. I got the model T.

Another hack that people might do to you. They will buy one of these. They will open it up, take the USB, put something on there, so that when you try to use it to connect it to your computer, it could have some code written in it that can actually go in and take all of your crypto and transfer it across the internet to wherever their wallet is.

It can even still have the shrink wrap on it. So if you buy it from the company website, you have the lowest amount of chance of that happening.

Buy your wallet from a legitimate source, from the company. This one, I think it looks really cool because like, look at this thing, it’s like a smartphone and it has everything on the screen, which is really awesome. It even has like a camera on the back of it. The thing that I don’t like about it is that it didn’t have a ton of reviews on Amazon. And I haven’t seen a ton of people review it.

I do recommend just from my limited research to go with the Ledger or the Trezor. Trezor. Trezor? Trezor. Just because it seems that they have the most reviews.

They’ve been around the longest, and the company knows what they’re doing. This is the Ledger X. This is the more expensive version of this Ledger brand. I’m just going to plug this in and get started. So, on screen, you see many of my NFTs that I have right now.

I’ve got the Atom Bomb Squad.

I’ve got the Chiptos. I’ve got the little army man that I love, and I’ve got the epic Gary Vaynerchuk VeeFriend right there. And I’ve got two Dizzy Dragons. I do love the Dizzy Dragons.

So, let’s plug this in. Get started here. All right, this is plugged in. Welcome. Oh, gosh, I need to show this.

Okay, I’m going to show this with my phone. This is the new iPhone 13. Welcome to Ledger Nano X. Press right button to continue. Okay.

Ledger Live at ledger.com/start. Love to do this. Getting started. Just receive your device?

Follow these four steps.

I get so nervous. This is so…

(Dan groans) Get started. Terms of service… (voice speeds up and pitches up) For you, it’s only been a few seconds, but for me, it’s been a few hours.

I have to tell you what just happened because I may have lost one of my NFTs. I hope not. And I’m going to need your help. I have been setting these Ledgers up. These cold wallets up, the Trezor and the Nano X.

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So, here’s what happened. I went through the process with the Ledger Nano, you push these two buttons on the side, it pops up, you create a four to eight digit PIN, which was very easy. And then it does show you your 24-word seed phrase. All of that seemed pretty simple. And then, it verifies to make sure that this is legitimate.

You connect it here. And it verifies on the Ledger Live app. So I went in, I created an Ethereum account. I went into my MetaMask and I went into Opensea. I decided to transfer an NFT, not my super expensive Gary Vaynerchuk one, but this Atom Bomb Squad guy with the little nose on there.

I thought this would be a good one. It gave me the address. I copy. I pasted it. I transferred from my wallet of MetaMask over to here.

It costs me $30 in gas fees, and it should have transferred onto here. But if you look down here, you can see a transfer to an account, CABB0E.

When you click on it and you go to it, you can see this unnamed account with the Bomb in there. So clearly the transaction happened. Yay!

But it turns out there is a possibility that this Nano does not work with NFTs. If you can’t find it on here, and you can’t find it on the app that they give you, how do you transfer it out of there? I don’t know. There’s a chance that he’s stuck there in no man’s land forever.

So I am not going to break this one yet, but I am going to break the Nano S, and we’re going to see what’s inside of this guy.

We are also going to see what’s inside of the Trezor. And I need your help in the comments. Please let me know. Is it possible to get my NFT? My Atom Bomb Squad funny guy, nose guy with glasses off of this account and back over to my actual account.

When it’s gone, it is gone. And if you messed up, with the way that you stored it, then that falls on you. There’s nobody that’s going to help you. Because if not, that would be sad. The Trezor one, I’ll show you a screenshot right here.

It does not accept NFT transfers either, even though they’re on the Ethereum blockchain. So, either I am doing something wrong, or I’m reading everything wrong on the internet. I did not transfer anything over to this one, no NFTs. I do not want to do that because I may have learned in my lesson with this one and lost an NFT forever. So, that’s another thing you’re going to learn with the crypto world.

It is incredibly confusing. There’s all kinds of weird stuff. I want to protect my NFTs on a cold storage wallet, one of these, and put it in like a bank vault, so that I know that it’s safe! (Dan bangs a box on the table) I’m frustrated! And now I’m officially ready to break some stuff and see what’s inside of these things, because I am frustrated that I may have lost my little guy.

This is the Trezor ledger. I like this one because it does have a screen on it. I think it will look cool when I smash it right here. (Dan bangs hammer against the Trezor) Oh..

. Screen still on. It’s pretty strong. (Dan hammers down on the Trezor) Okay, the screen is still on. (Trezor’s exterior clicking) Screen’s still on?

It’s still on! Okay, we’re going to open it right here. Okay. The screen is still on. Oh, would you look at that?

Put your pin in, and the numbers still work. And on the inside, you can see that the ribbon is still connected right there to the screen. And then there’s a little chip board on it. And on the back, there’s all of the chips. Everything that’s connected.

Even without that stuff going, it is getting hot right now. Not ideal. All right, we’re going to pull that off. Okay. The screen does not work anymore.

Here is your Trezor wallet, the trust wallet, not the trust wallet, the Trezor crypto wallet. Let’s take a look at the Ledger.

The Nano S. Nano typically it means small. (Dan hammers down on Nano S) (Dan chuckles) I love breaking stuff.

I love it. We’ve been breaking stuff for years. You have the screen that’s on the front and then a very tiny or nano board. Compare that to the Trezor. Basically just a motherboard and some chips on there.

It’s the processors. I am new to this crypto space as are many, many of you. And this is the future over the next few years. You need to get educated on Blockchain and Crypto. Let’s use the comment section of this video to be like a Reddit forum.

I want to see the best comments at the top of the page. Let us know which ones are the best. What am I doing wrong? How can you use a cold storage wallet with NFTs specifically? We know what’s inside of this, and I’ll tell you one thing that is not inside of my cold storage wallet.

And it’s my NFT. It is not inside of here. And that’s the one thing that I want to put inside of the wallet. So please help me out in the comments. And if you haven’t already go check out the video where I traded my Roadster for an NFT.

Kind of crazy. Yes, I have a lot to learn in this space and I just destroyed hundreds of dollars of cold storage ledgers, and potentially burned a beautiful NFT that is gone forever. Thank you for watching. And I’ll let you know in the comments section below this video, if and when I ever recover this beautiful Bomb guy with the glasses. I hope we can get him.

Okay. Bye. I can see why people are a little afraid of being in cryptocurrency.

I love it. I love the Blockchain.

I love NFTs, but man, I have to admit, it is a little scary knowing how quickly something can be gone. This Crypto Swami… Where did that fly, moth just go from?

That was weird. (Dan in slow motion).

Seaswami LLC found this on YouTube

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