Cold storage vs decentralization

WATERCOOLER
#1

Hello everybody,

I am posting this on this thread, because I can’t seem to find the right category. My name is Adrien, I come from France. Nice to meet you all.
I hope I can manage to explain my questions well, and I hope this specific topic hasnt been answered yet. (I haven’t been able to find a clear answer by researching a similar topic)

I am trying to find a way to secure my crypto the cold way, offline, on an Usb drive. Is it possible to dowload an offline wallet inside an operating system within an Usb drive while also being able to create backups within other usb drives in case you loose or break the main one?

If this isn’t possible, does ledger products function on a decentralized platform?
I mean, when you buy a Legder Nano S for example, you must connect it to ledger live app to use it right? And, is the ledger app a decentralized platform, written on eth smart contract for example?

I want to make sure my informations are kept secret from any third party or autorithy to know. I wan’t to make sure my crypto belongs only to me, and ins’t managed by any institution at all. I would also basically need to be able to store any crypto…

Thanks for your help

1 Like
#2

Not an expert but I may be able to help a bit.

I don’t think Ledger works on a decentralized platform, but this explanation might help:
Ledger is basically a USB drive that stores your keys offline and when you connect it to your computer when you want to use the app, that connection is encrypted. So basically when you’re using the app, the app doesn’t know your private keys. When you want to send some crypto to someone it basically asks the Ledger USB to do so (the app never has access to your private keys, just your public key/wallet address).

You’re able to do this on a regular USB too. Just search up “How to set up a crypto wallet on a USB drive”. It’s also less expensive than a Ledger or Trezor, but it’s up to you to set it up the right way.

Hope this helps :slight_smile:

1 Like
#3

Thanks a lot, it helps already a lot kowing it’s encrypted and in this way is private. I might try to do it myself as you said… I was just wondering if someone here had done it already and had some experience/ knowledge on the subject (what software to use, what to do and not to do…)