I was wondering is Yoroi really safe for larger amounts?
I am a bit concerned about which browser would be best from a safety standpoint too.
I have used Daedulus in the past but I deleted the folder to free up space. I wanted to change stake pool recently so tried to resnyc but its been at 83% for over a month now.
Its pretty much rendered its self useless and I always found it to be pretty poor overall anyway.
Yes Yoroi is safe but of course only if you arent doing any mistakes or using a safe/clean computer.
Id recommand to get a hardware wallet and then connect it with Typhon or Eternl, as Yoroi have (or had) some big issues in the past.
Thanks for your reply Zyroxa. Can you please expand on your answers?
Buy a hardware wallet (Ledger or Trezor), and connect it to Eternl or Typhon (browser plugin) for the best user experience. Transfer your funds from your old wallet to the hardware wallet and then delegate it.
If you can’t use Daedalus to transfer the funds from your old wallet to the hardware wallet (because it is not in sync), restore your wallet in Eternl or Typhon using the seed phrase (the recovery words). Just make sure you are downloading the official applications for Eternl or Typhon.
Sounds like Im just trading one unreliable half arsed system for another.
After all I still have to keep written pass phrases somewhere for god knows how long as I would without a hardware wallet.
Daedulus is well, just, Dead!
This is not correct.
With a hardware wallet, you can be 100% sure that your seedphrase is not exposed digitally anywhere (as long as you have backed it up on paper). With a hotwallet, you don’t have this certainty because you have to enter your seedphrase to restore or create the wallet.
By using a hardware wallet you can be 100% certain that you cant get scammed, expect someone has access to your seedphrase or by your own mistake, as the private key never leaves the secure device.
My point being that I still have to keep a written seed phrase in a drawer/safe for many years regardless so it doesnt negate that.
I am just nervous about different options to the already unreliable Daedulus. Especially ones that involve a browser and potential margin for error.
How could it negate that? You keep your secrets yourself and need a backup in case the hardware gets broken or lost. That’s not the difference between a hardware and software wallet. The difference is that the secrets are never on a network-connected, potentially compromised device and that the hardware wallet asks you for confirmation of every single transaction.
Most attacks that we see are tricking the user into giving away their seed phrase, and most of them by posing as fake support in direct messages on different social media channels. Sometimes they use fishing sites in the design of a specific wallet app, which is made a bit easier, when the wallet app itself is browser-based, but most of the times they save that effort and very generic fishing sites for all wallet apps on all blockchains are already sufficient to persuade enough victims.
In a lot of aspects, the difference between Daedalus and browser-based light wallet apps is not that big:
- Both store your secrets encrypted by the spending password somewhere on your computer and malware could get at it if it can access your disk.
- Secrets are never transmitted to the server, but only stored on your machine (in the browser’s storage in the case of browser-based wallet apps), but as an end user you can hardly verify that (again, not only for browser-based, but also for Daedalus), but have to trust the wallet app creator.
- For all of them, you should make sure to only get them and their updates from legitimate sources, which is not as trivial as it sounds (there have been fakes in app stores for all of them – including Daedalus), but also not that hard: Get the links from the official website and make sure that it is the official website by looking at multiple sources – https://developers.cardano.org/showcase/?tags=wallet, this forum, Twitter, Discord, Telegram, … I have seen scams that scaringly convicingly faked one of those channels for a wallet app, but never all of them.
Altogether, the big difference is not Daedalus vs. light wallet apps. They can all be rather safe if your machine is not compromised and you don’t fall for scams. The big difference is hardware wallet vs. software wallet turning “rather safe” into “pretty safe”. … and that only if you never put the hardware wallet seed phrase on a computer and don’t let them trick you in doing it, nevertheless.
This is all not a speciality of Cardano doing it significantly better or worse, but pretty much the same for all cryptocurrencies. A case can be made that this is not usable for the majority of people and they need a help desk that can suspend their account, reverse transactions, and reset their password in case something bad happens. But that then is a case against cryptocurrencies in and of themselves.
This site isnt safe more like! So many scam support messages etc.
Wish I had never got involved in this space now.
Sort it out!
You say its safe and then its not without explaining any of the negatives. Which is it?
Or are you paid to promote HW wallets?
Aaroonlooper Go fuck yourself!
Listen i dont really care what you are using. Use what ever you feel comfortable with but but please don’t insinuate such rubbish.
I wish you all the best and good luck with your crypto journey.
Pleas flag them. If you do not flag them, we cannot see that it is happening and cannot ban those users.
Safety is not binary, but a continuum. You got a quite detailed answer here:
It will be quite the same anywhere in cryptocurrencies. Lots of scammers, projects fraudulent from the start, and projects failing, although they really try … somehow.
Alternative is to “invest” in cryptocurrencies, but stay on the centralised exchanges like Binance, Coinbase, etc. You won’t have to manage your own keys and have a customer support that at least resembles the one of traditional institutions, but you have to trust that the centralised exchange does not go down like FTX. And they also won’t protect you from investing in something later failing.
If you are not in the camp that believes that all fiat currencies and traditional finance are doomed to fail (I am not, but a lot of people are in crypto because they are, it’s a matter of belief), then traditional finance – ETFs etc. – are probably a much safer bet for your money than cryptocurrencies, honestly. And you won’t have to think about the management of cryptographic keys, either.
Greetings, we’re glad you asked. Yes Yoroi is completely safe, you can safely ignore any previous negative comments as there have been tremendous upgrades to the wallet, and it was never unsafe. Like many other popular options, Yoroi wallet is non-custodial, so that means that you are in true custody of your tokens, but unlike many other options, we are completely open source - so you can know with confidence that your wallet is not malicious.
Another benefit is that you do not have to download the entire blockchain, so you are free to use Yoroi without the worry of having to clean disk space. Let us know if you need any help, and we’d be happy to help.
Using the app now but just wanted to know if rewards are included in total when re-delegating to new stake pool? Thanks
Yes. All of your ADA in your wallet is always delegated.
Thanks. Does anyone know how I check my rewards received over time, in actual ADA value for each epoch?
I think there is like a taxreport on pooltool.io with that information.