After finally getting a Hardware Wallet for BitCoin and Ether, I now want to move on to having the same sort of peace of mind for MSC (I want to start buying them ASAP) and SC but from this very interesting and useful conversation:
it looks like there is nothing around yet that I could use. I am wondering, are there people here who might be interested in collaborating to develop a HW for MSC and SC? I would be prepared to put some cash and time resources into it we could find a way forward. I am REALLY interested in developing a number of ways of participating in the future rapidly expanding and flourishing SAFE economy . .
Feel free to respond here or mail me privately if anyone wants to chat about this idea . .
Maybe for safecoin all you need is a hardware password keeper and one that uses an addon to bypass the keyboard by encrypting the text between the h/w password device and the addon. Then no hacker/keylogger can operate on your safe wallet. Without the SAFE login credentials then they cannot access your wallet.
I can see a time when you might be logged into the safe network for most of the time even longer than the clear net. So if you have a shared machine with your family a hardware wallet might be a way of letting only you spend your coins rather than someone else who has access to your machine…
If you send MSC to a hardware wallet address what’s the procedure for getting it of into omni wallet when you want to convert it into safecoin. Am I write in thinking If you had it on a paper wallet you would just scan the private keys?
ONLY if your hardware wallet can give you the private keys. At this time hardware wallets don’t support omni tokens and only if you can get the private keys is it advisable to use such a hardware wallet for MAID.
Personally I am using paper wallets. Arguably as secure as a hardware wallet as long as your sensible with the paper copies.
You would have to extract the private key for the address in the hardware wallet then import that key into omniwallet.org’s wallet
BTC addresses all have their own private key. The BTC address is actually decoded from the private key so its impossible for one private key to have 2 addresses associated with it.
Do not confuse a wallet with the BTC addresses. All a wallet is is something that holds the private keys of your addresses and can sign transactions which then are put to the BTC network. The wallet does not hold your coins and only holds private keys. (address is derived from the private key)
I thought your recovery seed was like a master private key? It allows you to recover all your bitcoin addresses from the trezror. Looks like ill be doing some research into HD wallets and recovery seeds
You could use a trezor so long as you have the seed phrase from when you set it up. It’s a bit complicated, but perfectly possible. This would be for long term storage because HW wallets don’t do omni transactions at the moment. When you want to access your tokens, it involves using mnemonic code converter tools (preferably offline) such as the Ian Coleman one or this coinomi one. You would use the tool to derive your private key for the address where your tokens are, then you can move them. There are pros and cons with this approach and you may prefer to just use a paper wallet which really is just as secure if you set it up correctly.
I’m more familiar with the Ledger Nano S hardware wallet than the trezor, but they are similar.
You may like to take a look at this post, and perhaps the whole thread. There is more detail there…
The confusion in this discussion is being caused by terminology. I think you understand how the overall setup works, but the seed phrase for a hardware wallet wouldn’t normally be referred to as a private key, although you can well think of it as one. Really the term ‘private key’ has a more specific meaning in this context, as described by @neo.