Hardware Wallets

It’s seems a day doesn’t go by without the mention of cryptocurrency. Bitcoin has been around for quite a few years, but now the rising popularity of bitcoin and other cryptocurrencies has meant that it’s prime target for hackers and organised criminals to steal others’ bitcoins through various means. This may be through brute force attacks to obtain people’s logins, or more sophisticated hacks that compromise crypto related sites such as online wallets and exchanges.

So what do you do to protect yourself? The answer are hardware wallets. Hardware wallets mean that you keep your cryptocurrencies offline. That way, if any attack or compromise happens on a web based service, your cryptocurrencies will be safe. There are a few hardware wallets that can be bought online such as the Ledger Nano S and the Trezor hardware wallet. Here’s some things to bear in mind when purchasing them:

  • Buy direct. Don’t risk buying off a third-party such as Ebay or Amazon. There’s potential for the wallet to be tampered with.
  • Due Diligence. Research security and vulnerabilities of hardware wallets. Although, hardware wallets are certainly a step in the right direction, they’re not 100%. impenetrable. Read what experts are saying about the hardware wallets, are there any known vulnerabilities and why kind of cryptography is being used.
  • 2FA. Make sure that the hardware wallet you buy offers Universal Two-Factor Authentication.

At the time of writing, the two most popular hardware wallets available for purchase were the Trezor and Ledger Nano S. Due to high demand for both wallets, regular shipping was being postponed and Trezor was the only manufacturer offering express shipping immediately.