If you are one of those who use a OneKey Hardware Wallet, you are probably familiar with its ease of use and beautiful design. Normally, when we buy a new device, it comes with Universal Firmware installed from the factory, which has the advantage of supporting a wide variety of cryptocurrencies (Altcoins) such as Ethereum, Solana, and many more.
However, if your self-custody goals have changed and you only want to hold Bitcoin (BTC), and you want your Hardware Wallet to be more secure, then switching from Universal to Bitcoin-Only Firmware is something you should know about. Today, I will delve into why you should switch and how to do it easily.
Why do Bitcoiners prefer to use Bitcoin-Only Firmware or Bitcoin-Only Hardware Wallets?
Many might wonder, "Isn't it better to have multiple coins to choose from? Why limit yourself to holding only Bitcoin?" The main reason in the digital world is the term "Attack Surface."
Using Bitcoin-only Firmware has the following advantages:
- Reduced vulnerability to attack surface: Universal Firmware requires a very large codebase to support multiple coins and smart contract networks. The more code, the more likely bugs or vulnerabilities are to occur. Using Bitcoin-Only Firmware means cutting out all unnecessary code, leaving only what is used for Bitcoin, which significantly reduces the risk of being hacked.
- Lighter and more stable: When the system doesn't have to work hard to support other ecosystems, the Firmware will run faster and focus solely on the Bitcoin network.
- Prevents confusion: For long-term holders (HODL), not having other coins mixed in the wallet helps maintain investment discipline and prevents accidentally approving strange smart contracts that could lead to asset loss.
Caution! Things to do before changing Firmware
Before we dive in, Alina wants to emphasize a golden rule: "You must always have your seed phrase backed up securely with you!"
Although the firmware update process usually doesn't erase the seed phrase stored in the secure element, in the world of digital assets, every operating system update carries a slight risk that the device might reset itself. Therefore, do not update if you haven't found your seed phrase written down yet!
Step-by-Step: How to switch to Bitcoin-Only Firmware on OneKey
Prepare your OneKey Hardware Wallet and phone, then follow these steps:
Step 1: Connect OneKey to the Application. Connect your Onekey to the application on your device (in this example, we'll connect to the mobile application). Then open the OneKey application and unlock the device with your PIN.
Step 2: Access Device Settings. In the OneKey App window, click the dot icon in the top right corner > Click Manage > Look for your Hardware Wallet's icon.
Step 3: Device Information. Scroll down to the DANGER ZONE menu. Click "Switch to Bitcoin-only."
Step 4: Switch to Bitcoin-Only mode.
The app will display the details of the firmware you are about to install and important warnings. Once you have verified everything, click "Update now."
Step 5: Confirm and wait for installation. The app will remind you to check your Seed Phrase again. Once you have backed up your Seed Phrase, tick the box and click "Continue." The app will then prompt you to confirm on your Onekey Hardware Wallet.
After you click Confirm, the app will download the Firmware and begin installing it on the OneKey device.
When the Firmware download is about 50% complete, the app will prompt you to confirm on Onekey again.
Onekey will warn us again that changing the Firmware will remove our Seed Phrase from the device. If we have backed it up, click Continue > Install.
Step 6: Reboot and Ready to Use. Once the app screen shows that the installation is complete, the OneKey device will reboot itself once and you can set it up just like when you first received it. After the installation is complete, if you connect to the app again, you will see a Bitcoin logo displayed on your Onekey.
Additional Information
- Firmware can be switched between Bitcoin-only and Universal.
- Other Altcoins don't disappear after you switch to Bitcoin-only Firmware; they are simply not visible because of the firmware change. Don't worry!
Image link https://canva.link/fe09qtwig7mx8ok
แชร์:
Easy-to-Understand Guide to Enabling Passphrase on Trezor
How to Change Your Trezor Firmware from Universal to Bitcoin-Only (Step-by-Step)