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Cryptocurrency: hot wallets vs. Devices Wallets: What is safer?
The world of cryptocurrencies has exploded over the last decade, Blockchain technology that allows peer trade, without the need for brokers, such as banks. However, as with any digital property, safety and safety is, however, a concern about the storage or mobile device of the cryptocurrency.
Two popular alternatives to safe storage of cryptocurrency are hot wallets and hardware wallets. Hot wallets are software that allows you to store and manage online cryptocurrencies, while the equipment in the equipment is a physical device that is specially designed to protect private keys from unauthorized access.
In this article, we explore the differences between hot wallets and equipment between wallets, including benefits and disadvantages, safety features and best practices for safe storage of cryptocurrency.
hot wallets
Hot wallets are software that allows you to store and control your cryptic current online. It usually connects to your computer or mobile device via a browser or application interface, allowing you to use balance, events and other wallet information.
Some hot popular wallets are:
- Metaski
- LEDGER LIVE
- Trust your wallet
Pro hot wallet use:
- Comfort: Hot wallets are readily available online to perform fast events.
- Low Taxes: Most hot wallets charge a minimum amount or not.
- Light configuration: Many hot wallets have simple assembly processes.
Against the use of a hot wallet:
- Safety Risks: Hot wallets may be prone to hacking and phishing attacks if your software is compromised or if you are in connection with others.
- Scalability Problems: Large transactions can put pressure on basic infrastructure, which can lead to scalability problems.
- Data loss: If your computer or device is stuck, all information stored in a hot wallet may disappear.
Devices wallets
Wallets on the devices are physical devices specifically designed to protect private keys from unauthorized access. It usually requires an expression of a seed or recovery key to return to your cryptocurrency account if you lose or damage your device.
Some wallets of the folk equipment are:
- Pedger
- Trektor
- KeepKey
Pro hardware wallet:
- Safety: In practice, the wallets of the devices are untouched as they store offline and on a safe device.
- Privacy: You can return your encryption account even if you lose or damage the device.
- Scalability: Devices wallets do not require the Internet to work.
Hardware against wallet use:
- Cost: Wallets on devices are usually more expensive than hot wallets, especially high quality models.
- Complexity: The composition and use of the equipment wallet requires technical expertise.
- Limited accessibility: Physical connecting your device with your computer or mobile device may be necessary.
What is safer?
In our opinion, wallets in the equipment are much safer than hot wallets. Although it is true that hot wallets can be susceptible to hacking and loss of data, they also provide high level safety by storing offline mode. The equipment, in turn, stores private keys directly into the device, which makes them virtually untouched.
However, it is imperative to note that no equipment in the equipment is completely without risk. You should always take basic equipment to protect your wallet:
- Maintaining the backup of a sentence or recovery key.
- Using strong passwords and activating two factors (2FA).
- Regularly support the device and its contents.
Best Practices for Safe Storage of Cryptocurrencies
Follow these good practices to ensure the safety of your cryptocurrency account:
1.
