RE: Ledger Live All-in-One app released for Ledger Nano S 🔐💻 by pandorasbox

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cryptocurrency · @pandorasbox · Jul 9 '18

Yeah, well, let's say I like convenience and am a bit paranoid - I like to log in and check my balances often. So installing/reinstalling is a little bit too much effort for me.. I prefer to keep them ready to go.

Also I did it to spread the risk between multiple ledgers. In case of a burglary or otherwise I can give them one, and keep the other ,etc. But that tactic doesn't work if I want it all accessible through a single app of course

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@bengy · Jul 9 '18

For backup, I have left one on the other side of the planet with my brother. I prefer to keep them seperate physically. Also, for security, you could also use the 24 + 1 option for the seed words. That way, you give access to the 24 seeds, which unlock a certain set of wallets. But the deeper 24 + 1 set are hidden still and plausibly deniable. The extra seed word is one that is chosen by youself, and so it can be complete nonsense to anyone else.

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@pandorasbox · Jul 9 '18

Yep, [I know, I use the 25th word as well](https://steemit.com/cryptocurrency/@pandorasbox/how-to-set-up-a-second-hidden-account-on-your-ledger-nano-s-hardware-wallet) :)
Let's just say that ever since I started taking security seriously, I started taking security _seriously_ :)
So multiple ledgers, multiple accounts, and all that. 

Also, another reason to own multiple ledgers is to have a back-up one ready in case you spill coffee on the first, or otherwise. I had to wait two months for my ledger to arrive the first time and I didn't want to risk being locked out of my funds for two months (I know I can restore outside of the ledger but I really don't want to)

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@bengy · Jul 9 '18

Wow, serious security then!

I mostly use the Ledger to lock up funds away from temptation to do day trades. The hassle of reinstalling apps actually was a positive as it was an annoyance that stood against easy access! I

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