Hardware wallets are all the rage. Part of the “cryptocurrency starter kit”, these ultra-secure devices for storing cryptocurrency have become hugely popular as interest in bitcoin has boomed. With a number of different models to choose from, beginners may be wondering which one is best – and indeed whether they need a hardware wallet at all.
Real Hodlers Use Hardware Wallets
Trezor and Ledger, two of the best known wallet manufacturers, have grown to become the industry’s go-to cold storage solutions. Both companies, who make a range of devices, have successfully met the demand for offline storage that is secure and user-friendly. No cryptocurrency wallet is 100% secure against all known attack vectors including acts of god, but Trezors and their ilk come pretty close, provided they’re bought directly from the company or an approved reseller. Spending $100 or more to secure several thousand dollars’ worth of crypto – which has the potential to appreciate into many thousand more – seems like a pretty good investment.
But for anyone who balks at the cost of purchasing a hardware wallet, it’s possible to achieve the same result on a budget. There’s nothing to prevent you from installing a wallet onto a thumb drive, or better still a pair of them to ensure redundancy, and encrypting them. Similarly, an old iPhone with Bread wallet or the Bitcoin.com wallet installed makes for a durable cold storage device. Note down your recovery seed and then keep the device offline, save for when you need to access the wallet.
For anyone determined to use a dedicated device, however, Read More Here