No more worries about the security of your bitcoins: with a hardware wallet – a device with USB connection – you save your bitcoins and other cryptocurrencies in the most secure and efficient way. At Buy-HardwareWallet.com, you can easily compare hardware wallets and buy hardware wallets based on our reviews.
What is a hardware wallet?
A hardware wallet is a device that allows you to store the private keys of your bitcoins and altcoins safely. You can also send and receive bitcoins directly from your hardware wallet. A hardware wallet basically combines the safety of a paper wallet with the ease of use of an online or software wallet.
Most hardware wallets have support for the most popular cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Dash, Stratis and many others. The most popular hardware wallets of the moment are the Ledger Nano S, the Trezor Wallet and the KeepKey Wallet.
Hardware wallet advantages
The main advantage of a hardware wallet is that there is a complete protection of the private key and your computer or smartphone. The private key is stored on your hardware wallet, so it never leaves it. Vulnerabilities of the modern computer and smartphone are widely known, and if you store your private keys on one of those devices, there is a chance that these devices will be hacked at some point. Therefore, secure your bitcoins with a hardware wallet! Buying bitcoins is one, securing them should be a no-brainer!
How does a hardware wallet work?
Unlike other types of bitcoin wallets, a hardware wallet generates the private key on the device itself using 24 words – known as the backup seed. The private key is thus not known to the manufacturer or other third parties, but is sealed in the device’s super-secure chip. You log in to the device with the PIN you set.
USB allows you to connect the wallet to your computer or smartphone, and allows the device to communicate with the applications you are used to managing your bitcoins. When you want to perform transactions, they must be signed using the keys of the device itself. This ensures that hackers never have the ability to get to the bitcoins on your device. Are you looking for the best bitcoin wallet? Then a hardware wallet is the best choice!
Hardware wallet vs paper wallet
A paper wallet, like a hardware wallet, is a form of cold storage. With a paper wallet, you store the private key on paper. You can still transfer new bitcoins to your paper wallet and view your balance using the public address, through the blockchain. A paper wallet is a secure offline solution, but when you want to use your bitcoins or other cryptocurrencies, you must first import your private keys on your computer. A hardware wallet offers the safety of a paper wallet, with the convenience of getting started with your bitcoins whenever you want.