Ledger or paper wallet for your Cardano (ADA)?


Welcome everyone today I wanted to talk
about Ledger’s versus paper wallets and the reason why I wanted to bring up this
topic today is because the Cardano roadmap updated and they are working on the paper wallets version two so if you’re not familiar with paper wallets
version one if you log into your Daedalus wallet you can create a paper
wallet so basically that’s going to be able to print your public key and
private key and then you can keep these funds offline secure, but with these next
version of paper wallets you’re going to be able to generate the paper wallets
offline so you are online when you you generated your paper wallets version
one so if your computer was compromised you had some sort of logs within your
computer or someone was remotely accessing your computer there’s a small
chance that they may be able to get your public and private key well more
importantly your private key and take your funds so this more secure version
of the paper wallet is going to allow for more security on the users part and
another thing that I also thought that was very interesting is this whole idea
brings back to a previous video of Cardano features helping those
in underdeveloped underbanked areas being able to generate a paper wallet offline
will not help those only in more affluent countries secure their funds,
but will allow people that are in less secure areas that may not have
access the same internet or may not have access to the same features the computer features that people in more privileged countries are able to access it will
allow them to generate wallets and for the first time be in control of their
banking and this is a huge feature because every feature that Cardano seems to release they’re also working on a lite version that’s going to allow
access to people that have never had access to banking before and this is
basically decreasing the barrier to entry regardless of what
cryptocurrency you have many of these cryptocurrencies, there’s such a high
barrier to entry to own this particular cryptocurrency whether that means that
you have to buy your Bitcoin off of Coinbase What if you don’t have a computer?
What if your internet connection is spotty? What if you do not have the
ability to link your Coinbase account with the bank because you do not have a
bank? These are steps in the right direction, so a question that I wanted to pose to you is are you waiting for ledger
integration to secure your funds personally for me I have downloaded the
paper wallet feature I am waiting for ledger integration. Are you going to be keeping your funds on Daedalus? Are you going to be
transferring to the paper wallet? Are you going to be using ledger integration
because ledger integration is complete according to the last updated weekly
report and I’m going to include that right here. It is complete so they’re
just waiting on ledger now and another interesting theory that I have is that
ledger may have a lot of cryptocurrencies in queue and you know
they’re probably finalizing the details and making sure that everything is
secure but they could also be waiting for the return of a slightly more
bullish market where more users are in the ecosystem the cryptocurrency
ecosystem because this is going to allow them to sell more units like for example
if they come out today and they say Cardano we just added Cardano. It’s
great for us cryptocurrency hodlers, but we’re waiting on an influx of new people
into this ecosystem so releasing these updates closer to when maybe the bulls
will return to the market or the market will become more bullish will be more
advantageous to them as a business and it’s the same thing goes for Coinbase
and a lot of these exchanges that are waiting to list cryptocurrencies, and
they just may be waiting for the right news the right catalyst to capitalize on
sales at the end of the day this is business and they’re looking out for
their own self-interest so what do you think about
paper wallets 2 feature that they’re working on now. I believe it’s out of 15
or 20 percent done it just it just got started and what do you think about
ledger integration so I’m waiting to hear back please comment below like,
comment, and subscribe it really helps out let me know what your plans are and
until the next video thank you

21 thoughts on “Ledger or paper wallet for your Cardano (ADA)?”

  1. I got my ledger from an amazon seller. I store my btc and LTC on that key. I bought it 6 months ago and i think if it was compromised my funds would have dissapeared by now. Should i buy a second key just for my cardano or just keep it on the amazon bought key ?

  2. Thanks for the info on Ada bro. I’m waiting for the nano ledger to include integration. I have faith that Cardano will do great things so I’m definitely holding it for the long term.

  3. Great Subject!! Do you think Daedalus is less secure? It seems kinda clunky and I am looking forward to putting my ADA on my ledger!!

  4. What if the bull run comes a lot later? That would mean that ledger doesn't support for a while. Not sure what their process is for adding the coin, but I know it's a simple update to allow the software to download

  5. Hi Philpa. One question: Once Ledger integration arrives, will that require the purchase of a new Ledger device or will they simply upgrade existing devices with the Cardano wallet?

  6. Hi Philpa- Thanks for the video however I have one question is it possible to open same wallet in multiple computers at a time..?

  7. I have my stake on the Daedalus wallet however I do intend to move to ledger when it finally becomes available. can someone explain to me how people believe paper wallets are secure? I mean what happens if you lose the paper or your dog chews through it. I mean unless you place it in a safe…. I feel the likelihood of this paper being stolen or lost is quite high.

  8. hi, i tried making a paper wallet backup of daedalus, but in the end it gave me a link to check my balance that is not the same as the wallet, hence, it's empty. did i backup correctly? cheers

  9. Hey Philpa hope all is well thanks for helping out a couple of weeks ago regarding 1.4 update on my dadelus…working well…I just updated my Ledger to 1.5.5 and was wondering was is this version to support Cardano (ADA)??

  10. How do you transfer funds on the paper wallet.and where can you actually see the transaction after put on paper wallet?

  11. Hi Philpa, great info once more….can you share if Daedalus wallet can store other ERC20 tokens like IOTA or HOT?

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