Hardware Crypto Wallet Security Tips

By Boris Dzhingarov

Hardware Crypto Wallets are the secure way to keep your Cryptocurrencies. A hardware crypto wallet is nothing but a hardware device where you can store your cryptocurrency private keys digitally and it allows you to do transactions online and stores the private keys securely in the hardware.

How to use a hardware wallet?

You just need to plug it into your PC or laptop and use the website to do the transactions. Your computer will initialize the hardware wallet and automatically install the secured wallet software that creates the public and private keys. These keys are stored internally in the hardware and they are considered secure because they are stored in the hardware device.

Are hardware crypto wallet devices secure?

Hardware crypto wallets are considered to be more secure because they are physical hardware devices and are not easy to hack.

Which hardware crypto wallet is considered to be the best?

  • Trezor hardware crypto wallet is considered to be the best bitcoin hardware crypto wallet in 2021.
  • There is also a simplified version called Trezor One.
  • Ledger Nano S. is another best hardware crypto wallet that protects everything by a PIN.
  • Coinkite ColdCard and Billfold Steel are also considered to be safe hardware crypto wallets.

How many hardware crypto wallets one must have?

It is always safe to have multiple hardware wallets as you cannot rely on a single hardware wallet. With a single wallet, you may lose it or it may get destroyed accidentally. If you have multiple wallets, the other wallet will be helpful to recover the crypto funds. So, you should at least have two hardware wallets.

How to secure your hardware crypto wallets?

The following hardware crypto wallet security tips will help you protect your crypto funds more secure:

  1. Always buy Hardware wallets from the original hardware manufacturer or their authorized dealers with a legitimate license.
  2. Don’t go for discounted offers and don’t buy hardware wallets online.
  3. Don’t ever buy a used hardware crypto wallet.
  4. When you use your hardware wallet for the first time, check the display for error messages. They could indicate if the hardware is tampered with or not.
  5. In a new crypto hardware wallet, the Seed will not be pre-printed. If your new hardware wallet has Seed pre-printed, your hardware wallet always is suspect. So, don’t buy if the Seed pre-printed.
  6. Your new hardware wallet will generate the Seed when you start the hardware wallet for the first time. Write this down on paper.  This will be needed again when you switch to a new wallet.
  7. Always use the software provided with your hardware wallet. A hardware wallet cannot work without a software
    8. Don’t use third-party software with your hardware wallet. Use the one provided by the manufacturer.
    9. People buy Hardware crypto wallets to store larger amounts of cryptocurrencies. Many hardware manufacturers will provide a manual on how to inspect your new hardware wallet to be original or altered.
  8. 10. Hardware crypto wallets will also have internal checks when you run the software provided with the hardware. The software detects in case the hardware is compromised and displays error messages on the display of the hardware.

Featured Image Source: Flickr