Hardware wallets
What is a hardware wallet?
Hardware wallets are physical, offline devices that are used for storing your private keys. As they are not (permanently) connected to the internet, they provide what is know as cold storage - you can perform all transactions without your private keys ever being online.
Ultimately, this means that your crypto is safe from malicious attacks or hacking.
A hardware wallet is a type of cryptocurrency wallet where you can store your private keys in a secure physical device. The cryptocurrencies stored in the wallet are kept offline, meaning that they can’t be hacked. However, when needed, the coins stored are readily available. If you are not that well-versed in coding and technical details, the hardware wallet is a great way to store the majority of your cryptos.
Why should I buy one?
It is estimated that approximately 20% of all Bitcoins in circulation are 'lost'. This means users can no longer access their assets, and is most commonly caused by user error when either storing or sending funds. That means roughly 3.7M Bitcoins have not been 'touched' for ten years, and approximately 3M of these are 'gone' forever. To put this into perspective, this equates to roughly 3.7 trillion USD ($3,700,000,000,000)
It is strongly recommended that you buy a hardware wallet to keep your coins safe, particularly if you have acquired a significant amount of assets, or you plan to 'hodl' for the long term.
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