Today we will let you know what is a hardware wallet. Is it worth to have one? Things you must know before buying a hardware wallet.
Well, what is a hardware wallet? A hardware wallet is a device where you can securely store your cryptocurrencies. There are only two major companies manufacturing hardware wallets in the world. One of them is called Ledger and the other one is called Trezor. When we reviewed the actual products we came to a conclusion that our favorite hardware wallet is Ledger Nano S.
Before making any online purchases make sure you keep on reading.Lately, some hardware wallet owners realized that their cryptocurrencies are stolen. But how did that happened? Here is the story. Cryptopreneurs who have purchased one of the hardware wallets made their purchases thru online, such as Amazon. Their seller turned out to be a scammer. Normally these hardware wallets are super secure. What happened here is that seller copied all the private keys of the wallets he was selling. Once you buy the hardware wallet, the device gives you a unique private key. This private key lets you to recover your cryptocurrencies even if your device is broken or lost. If you are interested in buying one of these hardware wallets, make sure you purchase them directly from the manufacturing company. In this case, we recommend making your purchase for “Ledger Nano S” directly from Ledger’s official website here.
Why do people prefer hardware wallets? The answer is simple enough : HACKERS
Since cryptocurrencies started to be traded on Exchanges, there have been several incidents. Some exchanges got hacked and their users lost their funds. Those type of hacker attacks helped exchanges in a way to improve their system security. If you like to know which exchanges we recommend please click here.
Here is a tutorial video for Ledger Nano S.
This video was published by Ryan Scribner. You can follow his Youtube channel here.