Cryptocurrency is still in its infancy, and it’s not yet as easy to use as regular money. You have to keep track of your public keys and your private keys and if your private keys fall into the wrong hands, someone can easily steal your money.
There are many ways to secure your private keys, but right now, the best solution is a hardware wallet. These are devices that keep anyone from being able to access your private keys while you’re sending or receiving Bitcoin or other cryptocurrency.
The Trezor hardware wallet is a popular option and an affordable one, as well.
Cryptocurrency is still in its infancy, and right now, users have a problem. It’s relatively difficult to store/handle/transact with Bitcoin or other cryptocurrency, but it’s relatively easy for hackers to steal your coins, which can be worth quite a lot of money.
There are people who literally own millions of dollars worth of cryptocurrency, and the only thing that allows them to keep their wealth secure is their ability to keep a long string of alphanumeric characters a secret.
The Ledger Nano S hardware wallet was designed to help with that, as those strings, known as private keys, have to be used in order to transact in any way, and those transactions usually take place over the Internet. How can you keep your keys secure when you still need to use them?
You use a hardware wallet, and the Ledger Nano S is one of the most affordable and secure hardware wallets on the market. You can use it to keep track of your assets while still ensuring that they’re safe from hackers.
In a previous post, I discussed how to buy cryptocurrency, but I only casually mentioned what you do with it once you’ve purchased it.
When you have anything of value, you must find a place to store it. That might be a vault, or a safe deposit box at the bank, or your purse, or the wallet that you keep in your back pocket when you’re out and about.
It’s no different when you purchase cryptocurrency, at least in theory, and for storing your Bitcoin, Litecoin or whatever-coin, you’ll first need to acquire a cryptocurrency wallet in which to store it. A cryptocurrency wallet is quite a bit different from the piece of leather that you may carry around with you, and in this post, I’ll discuss the different types of wallets so you can choose the best cryptocurrency wallet for your needs.