If you’ve entered the world of crypto, you’re probably wondering whether to opt for hot or cold storage. The Crypto Merchant is here to explain why a hardware wallet is the best option for you.
Debating the best way to store your cryptocurrency private keys?
All dangerous options in my opinion. The Crypto Merchant believes there is only one way to store your digital wealth securely and proves it in its guide. Enter the king of crypto storage... the hardware wallet!
According to data released by Chainalysis, cyber criminals stole approximately $1.7 billion in 2023, down 54.3% from the previous year. Although the overall number of crypto thefts is decreasing, individual hacking attempts remain a real threat. With this in mind, The Crypto Merchant’s guide stresses the importance of hardware wallets for safeguarding your digital assets against online hacking attempts.
As explained in the guide, hardware wallets (otherwise known as cold wallets) are physical devices designed to store crypto private keys in an offline capacity. By detaching your digital assets from the internet, the threat of hacking is significantly reduced.
Unlike conventional ‘hot’ wallets, hardware wallets are also protected from common malware attacks, providing an extra layer of security. “Even if your computing device falls prey to infection, your funds remain impregnably ensconced within the hardware wallet,” states The Crypto Merchant.
Another benefit of using hardware wallets over software-based systems is their user-friendly design. Perfect for beginners, these offline gadgets are easy to use and require no prior technical knowledge, says the guide. If you're a more experienced crypto user, you will also benefit from hardware wallets’ wide-ranging compatibility, allowing you to store multiple currencies in one, protected location.
In the unfortunate event of damage or loss, hardware wallets offer a simple backup and retrieval system, explains The Crypto Merchant. By entering a 12-24-word recovery seed, you can restore your financial assets, passwords, and other associated data.
The guide moves on to list the top considerations when purchasing a hardware wallet, including security, usability, and compatibility. The experts recommend choosing a cold wallet with a range of security features including PIN protection, passphrases, and secure element chips.
On their web store, The Crypto Merchant stocks all the leading hardware wallet brands including Trezor, Ledger, and KeepKey. The team prides itself on providing trusted, secure products, sourced directly from brand factories, to protect customers’ hard-earned digital assets. A spokesperson for the store said: “Because of our long-standing partnerships with the top brands in crypto security, our wallets are guaranteed 100% authentic and verified secure.”
For that extra layer of security, choose a hardware wallet. Get yours today by visiting https://www.thecryptomerchant.com/
