Hardware Wallets: Keep your Coins Safe| Paroexchange

Hardware wallets aren’t free. But the price can be worth it if you own a significant amount of coins. A hardware wallet will protect a few hundred in Bitcoin/ crypto just as effectively as a few million. Hardware wallet keeps private keys separate from vulnerable, inter connected devices. Your all-important keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware- infected computer. Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your coins.
Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a pin code.
Don’t worry about your hardware wallet getting stolen, lost or damaged either; so long as you create a secret backup code, you can always retrieve your coins.

Best Bitcoin Hardware Wallet

1. Ledger Nano X


The Ledger Nano X is Ledger’s newest hardware wallet. The main idea behind the device is that it is the easiest way to secure your Bitcoin and other Cryptocurrencies as well. The main benefit is that it has Bluetooth, making it the first hardware wallet that connects with IOS devices. Its more secure than using just an app on your phone, because all transactions are signed with the NANO X. The Ledger Nano X supports an extensive list of cryptocurrencies, including popular assets like Bitcoin, Ethereum, XRP, Litecoin and more. Ledger is constantly expanding its crypto asset coverage with both apps developed by Ledger and apps developed by the community and extensively tested by Ledger.

2. Ledger Nano S


The Nano S has a sleek design, intuitive user interface and a wide support of altcoins. At the moment the Nano S sells for $69 making it an affordable hardware wallet although somewhat more expensive than the competition. While many hardware wallets on the market feature a “simple” chip, all Ledger hardware wallets are equipped with a “smart card chip”, that include a secure element. This kind of chip is used for highly secure applications, such as protecting bio metric data on passports or credit card information. Secure element chips are extremely difficult and costly to hack, while “simple” chips, even with software protection, require much less effort. The Ledger Nano S can simultaneously run up to 18 device applications. Even if you uninstall a device application, the private keys to access your crypto assets remain secure. You’ll always be able to manage your assets by simply re-installing the application on your Ledger device.

3. Trezor one

Trezor launched in August 2014 as the first Bitcoin hardware wallet, offering secure Bitcoin storage plus the ability to spend with the convenience of a hot wallet .Trezor is a small, thumb-sized device which connects to your computer with USB cable. It stores your Bitcoin and cryptocurrency private keys offline and sign transactions. It can be safely used on a malware infected computer. Trezor provides top-notch security for bitcoin, protecting against both physical and virtual theft. Trezor is an HD wallet where you control the private keys, so an entire wallet can be backed up with the 24 words generated on setup. A pin code is required on setup, and required for spending. TREZOR and the Ledger Nano S are often compared. The main difference is that TREZOR is more like a mini computer, while the Ledger Nano S uses a secure chip.

4. KeepKey


KeepKey was released in September 2015 and was the second hardware Bitcoin wallet to offer a screen. The KeepKey’s larger screen gives it some extra security features that the Nano S and Trezor lack. Costs $129 and can be purchased on Amazon. High price tag is due to its digital screen, metal body, and high level of security. KeepKey’s pin code and number randomization makes sure that 1) your wallet is secure from physical theft and 2) that a hacker couldn’t steal bitcoins from your wallet with malware. KeepKey is an HD wallet, meaning your entire wallet can be backed up with the 12 words generated on setup. 12 words is the default setting, although KeepKey supports seed lengths of 18 and 24.
One thing you’ll probably hear from every bitcoin expert is that your bitcoins are as safe as you make them. Before you start using and getting bitcoins, invest some time to decide on your wallet as the security of your money entirely depends on it. Some factors to look at while deciding would be theamount you want to deal with and the frequency of usage. For instance, if you’re going to be using the bitcoin frequently then a more convenient option can be considered like mobile or desktop wallets.

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