One good news that everybody should know about is that crypto theft went down considerably in 2021, especially when compared to some previous years. That’s right, in 2018, a record of over $950 million worth of cryptocurrency was stolen! Needless to say, people are a lot more careful with their virtual coins. Let’s take a look at one of the best solutions on the market nowadays: the hardware wallet.
What’s a ledger?
A ledger, or hardware cryptocurrency wallet, is like your own private little vault. The latter has to be connected to your phone, computer, or tablet, for someone to be able to buy, sell, or transfer anything linked to your account.
How to add Bitcoins into my hardware wallet?
First, you will need to go to an exchange. If you are wondering what’s the best trading platform for Bitcoin and other cryptocurrencies, here are a few suggestions:
- Interactive Broker
- TD Ameritrade
Once you created an account on an exchange website, you will need to set up your hardware wallet (ledger). To do so, go to the official website of the manufacturer, and just follow the instructions given there. Finally, just add your wallet to your exchange account, and you will be ready to trade in no time!
What are the popular hardware wallets on the market?
The Ledger Nano S is certainly one of the best Bitcoin and cryptocurrency hardware wallets on the market. As you may already know, it is recommended to get a hardware wallet with a screen. This will allow you to verify your important information quickly and easily.
Another one to look for is Keepkey, a USB key with a screen that will protect any Bitcoin transactions going through since it will need your approval beforehand. Besides, your private keys will be 100% safe since they will be stored offline, as opposed to a web-based crypto wallet.
How much does a ledger cost?
The Ledger Nano S costs $72 USD, which is pretty cheap compared to other solutions like the Trezor T for example, costing $189, or the Ledger Nano X, selling at $145. Their main functions are essentially the same, but the big difference with the Nano X and Nano S is that you have Bluetooth with the Nano X. This is a really nice feature if you want to connect your hardware wallet to your iOS device.
On that note, we hope this mini-guide will help you choose the best ledger device to protect your precious coins. It’s no wonder crypto thefts are losing so much ground these days, with a hardware wallet, you know you’ll be safe.