12-02-2022, 07:45 PM
Beginners: Are Crypto hard wallets worth it?
<!-- SC_OFF --><div class="md"><p>This depends on who you ask. The cost of a hardware wallet can be upwards of $49 or much more. Finding one you can trust is another issue. There are several to choose from.</p> <p>Hardware wallets do not store your cryptocurrency. The hardware wallet actually stores your private key. Your cryptocurrency is held on the Blockchain ready for you to access when you need it. </p> <p>Most hardware wallets are considered cold storage because they are stored offline. Some of these hard wallets look very similar to a USB drive but not all. </p> <p>The difference between a hot wallet and a cold wallet is that a hot wallet is online either on a mobile phone using an app or on a computer using a application. They can also be web-based.</p> <p>Hardware wallets (cold wallets) are preferred for better security with a slight hassle of having to connect and get it going before using it. Software based wallets (hot wallets) are preferred to save money and for ease of use. Both serve their purposes. </p> <p>You want to be sure the hardware wallet you purchase supports the coins you wish to hold. </p> <p>If purchasing a hardware wallet, be sure it is made by a reputable company. Also be sure you are buying it from a reputable business as well.</p> <p>It is best to not let anyone have your private key.</p> <p>For me, a cold wallet (hardware wallet) is preferred for it's security. What about you and why? Please leave a comment. Thank you.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/PatrickTech75"> /u/PatrickTech75 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zaiv6b/beginners_are_crypto_hard_wallets_worth_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zaiv6b/beginners_are_crypto_hard_wallets_worth_it/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>This depends on who you ask. The cost of a hardware wallet can be upwards of $49 or much more. Finding one you can trust is another issue. There are several to choose from.</p> <p>Hardware wallets do not store your cryptocurrency. The hardware wallet actually stores your private key. Your cryptocurrency is held on the Blockchain ready for you to access when you need it. </p> <p>Most hardware wallets are considered cold storage because they are stored offline. Some of these hard wallets look very similar to a USB drive but not all. </p> <p>The difference between a hot wallet and a cold wallet is that a hot wallet is online either on a mobile phone using an app or on a computer using a application. They can also be web-based.</p> <p>Hardware wallets (cold wallets) are preferred for better security with a slight hassle of having to connect and get it going before using it. Software based wallets (hot wallets) are preferred to save money and for ease of use. Both serve their purposes. </p> <p>You want to be sure the hardware wallet you purchase supports the coins you wish to hold. </p> <p>If purchasing a hardware wallet, be sure it is made by a reputable company. Also be sure you are buying it from a reputable business as well.</p> <p>It is best to not let anyone have your private key.</p> <p>For me, a cold wallet (hardware wallet) is preferred for it's security. What about you and why? Please leave a comment. Thank you.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/PatrickTech75"> /u/PatrickTech75 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zaiv6b/beginners_are_crypto_hard_wallets_worth_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zaiv6b/beginners_are_crypto_hard_wallets_worth_it/">[comments]</a></span>