Guide to Using Hardware Wallets For Storing Crypto Forbes Advisor Australia
ContentIMPORTANT! Your Seed PhraseHow to Mine CryptoWhat are Hardware Wallets?Hardware Wallets ExplainedKeeping your data safe onlineSoftware Wallet ProsMeet the Coldcard™ Mk4 A blockchain is a ledger that is simultaneously stored and updated on thousands of independent computers across the globe. While I will use bitcoin as an example in this post, a lot of the concepts discussed here apply to other cryptocurrencies. Thanks to how the blockchain works, losing your hardware wallet or accidentally putting it through the washing machine won’t affect your holdings. As long as you still have your seed phrase your wallet can be recovered. In the early days of bitcoin, there was a clear trade-off between wallet security and convenience. Ensure that the hardware wallet supports the cryptocurrencies you are interested in investing in. Some wallets may only…