5 Reasons To Buy A Crypto Hardware Wallet

2 years ago · Updated 2 years ago

A crypto hardware wallet is a device for storing and managing private keys. The keys link users to their digital assets on a blockchain.

Also known as cold wallet, a hardware wallet is the safest way for storing crypto in a secure manner.
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A crypto hardware wallet is a physical device that stores private keys for digital assets. The wallets use a cold storage technique, where assets are kept offline. Keeping digital assets offline is more secure since it is less susceptible to hacking.

A hardware wallet connects to a PC or mobile devices through a USB port. They are only accessible to the internet when in use and remain offline when not connected to any device.

Apart from our guide with the best hardware wallet you can buy, in this case we wanted to speak about the benefits of the hardware wallets like Ledger Nano X, Trezor Model T, or BitBox02, just to name some of the most popular models.

Buying a hardware wallet is an important decision. It means you are making the right choice if you want to store in a safe way your cryptos.

Ledger Nano X

Ledger Nano X is the highest-end hardware wallet from the Ledger manufacturer. It has absolutely everything so that your cryptos are stored safely.

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Unlike the online crypto wallets, the offline models –that is, the cold wallets– allow you to be the real owner of your Bitcoins, Ethereums, and whatever other altcoin you want to store.

Below are some of the reasons to buy a crypto wallet, cold wallet, or hardware wallet, however you want to call it.

1. Non-custodial

Crypto hardware wallets are non-custodial in nature, meaning only users can access and control their private keys. Besides, in custodial wallets, the security keys remain at the exchanges.

Ledger Nano S Plus, one of the most popular hardware wallets from the Ledger brand.

A major risk with such a wallet is the possibility of losing your cryptos if the exchange is hacked. With cold storage, you can control all transactions including the access to your balance.

2. App For PC And, Mostly, Also For Android & iPhone

All hardware wallets have an interface through a wallet screen. Users can verify transactions using a simple controlling button. Through the app, one can buy digital assets like BTC and USDT. Equally, a user can sell their tokens for fiat currencies as needed.

Moreover, the app is a gateway for accessing decentralized finance platforms. It enables users to connect to DeFi services, transact, and manage them safely.

3. Digital Asset Security

Hardware wallets are perfect for securing your crypto assets. The security function is possible with a certified chip that stores cryptographic data. Some popular cold wallets like Ledger have passed high industry security standards from ANSSI cyber security agency.

4. Support For Multiple Tokens, Staking, and NFTs

Cold wallets support multiple assets depending on their capacity and the brand. Some of the assets include Bitcoin, Solana, Ethereum, and USDT. Furthermore, hardware wallets power NFT and direct token staking. Staking means fixing part of your crypto assets for a given period in exchange for a return. Users can also strengthen the security of a blockchain through token staking.

Other benefits include the lending of assets for exchange of a return. The staking function is applicable with a wallet validation node.

5. Compatibility with multiple crypto wallets

Apart from their primary software, hardware wallets are compatible with several third-party wallets like Trezor. They connect and function with the external wallets, letting users to manage their cryptos directly from a cold wallet. One can sign transactions and transfer them between wallet platforms, including software wallets.

BitBox02

BitBox02 is the Swiss alternative to cryptocurrency cold wallets. It has open source code and is available in two versions: Bitcoin-only edition and Multi edition.

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Read more:

Best Offline Crypto Wallets You Can Buy

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Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.