Buying and first setup

The best time for a mistake is when there is nothing on the device yet. A few extra minutes during setup protect you from most of the problems that would otherwise show up when it is too late.

Where to buy#

• Directly from the manufacturer or from a reseller the manufacturer lists on its website.
• Not from a second-hand marketplace, an auction or "a friend". A used device, or one bought from who knows where, may have been tampered with.

In 2021 some customers received fake hardware wallets by post, posing as a parcel from the manufacturer. The package contained a letter about a "security replacement", and the device was modified to steal the seed phrase. The attackers had the addresses from a leaked customer database.

What must not be in the box#

• A pre-filled seed phrase. A card with words already written on it means someone else knows the phrase. Do not use the device.
• An instruction to type the seed phrase into a computer or a website. Except for a few older models, a genuine device shows and accepts the phrase only on itself.

An intact package is a good sign, but not enough on its own. More reliable is the authenticity check the device runs itself in the manufacturer's official app.

Setup step by step#

1. Download the app from the manufacturer's official website. Type the address by hand; do not find it through ads.
2. Connect the device and let it be verified – the app checks authenticity and installs the current firmware.
3. Create a new wallet on the device. The seed phrase appears only on its screen.
4. Copy the words by hand onto the paper from the box – in order, legibly, no photo.
5. Confirm the backup – the device asks you for selected words.
6. Set a PIN – long enough and not used anywhere else.

Test a recovery before sending your savings#

A backup you have never tested is only a hope. Do a test:

1. Send a small amount to the new wallet.
2. Use the backup check feature most devices offer, or wipe the device and restore it from the seed phrase.
3. Check that you see the same address and the same balance.

Only then send larger amounts.

Common myths#

• "I will save money and buy a used one." A few euros saved against the risk that the device has been tampered with.
• "I will photograph the seed phrase just for a moment before copying it." The photo syncs to the cloud before you delete it.
• "I do not need to test the recovery, I have the words." You only find a typo or a missing word by testing.