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I’m in the process of setting up a full node, hardware ordered and waiting for delivery.

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Let's clarify a few terms: 1) node, 2) wallet, 3) signing device

  1. A node tracks the state of the blockchain. It communicates with the network, discovers new blocks as they come in, and transmits transactions across the Internet.

  2. A wallet tracks your personal "coins" and allows you to create and send transactions. It also detects when someone sends coins to you.

  3. A Ledger or Trezor is a hardware signing device. Signing devices are optionally used in combination with your wallet software to securely sign transactions in such a way that your private keys are never exposed directly to an Internet-connected device.

All of these things work in concert. At a minimum, you need wallet software.

If you don't run a node, your wallet software will talk to someone else's node, which is a point of trust. This is why it's often recommended to run your own node.

If you don't have a signing device, then your private keys are stored on your laptop. Laptops are Internet connected and therefore there is a risk of remote hacking. This is why it's often recommended to use a hardware signing device.

I hope this helps!


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