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  1. #1
    Member alli ss's Avatar
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    Jul 2004
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    Greenbrier, Ar
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    7,921

    Praying cryptocurrency- hardware wallet dangers

    if you buy a hardware wallet only buy it from the manufacturer or an authorized reseller. and when you turn it on for the first time IT MUST generate a new seed word string. if it comes with seed words already set up in it or if you get a scratch off lottery ticket looking seed word sheet DO NOT deposit money into that hardware wallet. there are some old school scammers scamming the new generation crypto investors and due to the very nature of crypto it is untraceable and I assure you there is nothing you can do to get your money back once they sweep it from your wallet. please beware of scams, read and study up on how things work or ask questions here. there is no dumb questions when it comes to not losing your money and there are guys here that can help.

    xpress x19, 200ho G2, aluminum sawtooth cut prop, paper sack tackle storage, ugly stik pro team, color c-lector

  2. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
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    12,147
    #2
    It's really unfortunate how people take advantage of a situation. These scams will be one reason to keep people out of cryptos.
    Thanos was the hero

  3. Banned
    Join Date
    Mar 2014
    Location
    Unionville, NC
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    8,911
    #3
    the more you know, fools rush in, not idiot proof, due diligence.

    Pick a saying, apply it here.

  4. Member
    Join Date
    Nov 2012
    Location
    Nederland, Tx
    Posts
    13,617
    #4
    On a ledger nano the first time you turn it on it ask you to set it up as a new device. Then you will set a passcode and it will generate the word phrase. If it does not do that it has been used before.