More and more people are joining the area of Bitcoin each day.
While some are glad storing their coins ter software or desktop wallets, some want to use more secure wallets. And if you are a long-term investor, this is not a bad idea. However for long-term ‘HODL’ you should use a paper wallet or a Hardware wallet. I personally endorse using Hardware wallet spil it offers good security spil well spil you can even use it for your day to day transactions.
Hardware wallets promise enhanced security against software wallets ter the case of theft or scams. Moreover, your coins are safe even if your rekentuig is hacked or someone stole your Hardware wallet. If you lose your hardware wallet, you can always restore all your coins on a fresh wallet.
Significant point: Without knowing your secret speld code, no one can transfer Bitcoins or other coins from your hardware wallet. More than that, no spy screen recorder or Trojan can record what’a happening on your Hardware wallet, spil it’s a not using your laptop or system resources &, have a dedicated LCD screen. More on this ter the below section:
What is a Bitcoin Hardware Wallet?
Bitcoin hardware wallets are a tamper-proof electronic device designed to store private keys of your coins ter an offline setting. The private keys and digital signatures needed to spend bitcoins are generated via thesis wallets. Like the way you set up any wallet, you need to write down the seed word (recovery phrase) on a chunk of paper and store it ter a safe place. Choose making 2-3 copies &, distribute it. And spil your keys are offline, there is no possibility of getting hacked.
At the time of this writing, there has bot no reported theft or loss of bitcoins from a hardware wallet. Some hardware wallets have security grid cards, and some have a little digital screen with a user interface to verify transactions. Even ter the case of harm to your hardware wallet, you can restore your bitcoins lightly with the recovery phrase.
Note: Bitcoin hardware wallets were invented after Bitcoin wasgoed born. At present, you can store other cryptocurrencies ter thesis wallets spil well (ETH, LTC, DASH,etc.).
If you want to store Bitcoin &, other Cryptocurrency secure for a long-term, then you should certainly order a hardware wallet. Since most of thesis hardware wallets have a waiting period of a month or two due to massive request, you should order one spil soon spil possible. If you are looking for a single recommendation spil the best Bitcoin hardware wallet, then you should look no further than Ledger Nano S. If money is not an kwestie, I would suggest ordering Two of them at the same time. I will explain you the reason behind this ter one of the upcoming articles. (See here)
Best Hardware Wallet for Bitcoin
The Ledger Nano S is a product of a France-based startup. It has sleek and attractive European touch to its vormgeving.
Some of its core features are the backup seed key for recovery of your bitcoins, the effortless to use OLED interface, and a flash drive like feel with two buttons on the side for navigating the interface.
It is a battery-less device which you can connect to a PC or mobile device via USB. Here is a movie guide by Harsh Agrawal on how to embark using Ledger Nano S.
The Ledger Nano S now supports nine cryptocurrencies (including Bitcoin) and is also the cheapest multi-currency hardware wallet available ($65).
The Trezor Bitcoin hardware wallet pioneered the era of hardware wallets. Created by SatoshiLabs, it is the world’s very first secure Bitcoin hardware wallet.
It looks like a petite zakjapanner with an OLED screen. Randomly generated nine digit pins and a 24-word recovery seed key ensures security te case the device is lost or bruised. Its purpose is to store private keys and sign transactions offline.
You can use the Trezor wallet with Android devices and with apps such spil TREZOR Wallet, Mycelium, and Multibit HD. Here is a movie tutorial series by our CEO Harsh Agrawal on how to embark using Trezor.
Trezor now supports eight cryptocurrencies (including Bitcoin) and costs $99.
KeepKey is another hardware device available te the market for storing bitcoins.
It doesn’t offerande much te comparison to the Ledger Nano S or Trezor. Moreover, it is more than two times te size than its peers, and not so convenient to carry ter your pocket.
It has same backup seed key feature with speld code enabled, and it works like the other wallets. At present, it supports six cryptocurrencies (including Bitcoins).
It also comes with a $99 price tag.
Consider reading thesis comments and reviews about KeepKey on Reddit and Amazon.