Bitcoin people are always telling me to go trustless... so why are they also always telling me to go for Ledger/Trezor?

Serious question. I don't have very much Bitcoin but I truly believe in "not your keys, not your coin" and I keep everything on Electrum, I feel it is safe enough and for 4 years, so far so good.

But I keep reading (and getting told) I need to buy a Ledger for safer storage. But as far as I can see, Ledger isn't open source. And what if something goes wrong with my Ledger one day and the company closes down and I can't get support? Or how do I know it won't bite me one day and just take my money somehow?

I know a lot of people trust the company, and hey that's great. Am I wrong somewhere or have I misunderstood Ledger is not open source?

I even feel I personally trust web wallets (I know the risk) much more if they are open source. Like Counterparty wallet. I see new ones coming up now like Bitamp. Am I gravely mistaken?



Submitted September 17, 2020 at 04:08PM by hotwheels7777 https://ift.tt/3mxzoFW

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