The Importance of Storing your Crypto Assets Offline!

The problem

You have bought bitcoins or ERC-20 tokens on a trading exchange and you don’t know how to secure them? This is a big concern for your security. As you may know, the trading exchange can be hacked at any moment or an unexpected event can occur.

The reality is, it is your own responsibility to secure your assets in the crypto world. It is a bit scary, I faced the same issue when I started my journey. I learned one step at the time, and I faced roadblocks that I overcome with confidence.

The philosophy of decentralization give your freedom, but the security pressure resides on your shoulders. When you have a bank account, you do not have to worry where is your money. They have people who are paid to secure the network and make sure everything is running smoothly.

In the crypto world, you need to take a step further and learn how to secure your stuff by yourself. When your intent to invest a good amount of money, you need to understand how to protect your goods. You will not regret your move in the long run if something bad happens.

Hardware wallets

You know what? It exists a good solution that reliables companies put on the market. Those solutions will give you the following advantages:

  • Have control of your private key.
  • You vault is under your control, and safe with you.
  • You can recover your hardware with a seed (security feature to restore your wallet).
  • Handle your cryptocurrencies and ERC-20 tokens under the same hardware wallet.
  • Be protected from malware, ransomware, and hackers.

On the market, there are 4 hardware wallets with a good reputation.

1- Keepkey

The following can be stored securely on the Keepkey : Bitcoin, Ethereum, Litecoin, Dogecoin, Namecoin and much more are planned for the future.

The private key is stored safely on the device, so you own the tokens. Also, the wallet is supported with Electrum, Multibit, and Mycelium. Moreover, the device is virus and malware proof, so you are sure your tokens are secure in the vault.

When you initiate the device for the first time, you will generate the private and public key. Then you have the opportunity to register the 12 words for the seed. You will use this to recover your wallet in case you damage it or lose it.

You can buy it on Amazon or directly on the keepkey website. I find this device sexy, but I have not had the chance to used one myself.

2- Ledger Blue

At the moment, this is the most advanced hardware wallet available on the market. This device communicates with Bluetooth interface and has a recharging battery inside.

The device works in an isolated environment and does not communicate with the outside world. This device can be used for business, and be used for any type of cryptocurrency or smart contract.

The team in France has worked 2 years to offer this nice piece of technology. In the near future, I would like to get my hand on this model.

3- Ledger Nano S

This is the device I use personally and I recommend it. I invite you to read the reviews I did on a previous post from this blog.

https://chesatochi.com/ledger-nano-s/

It is the same company that designs the Ledger Blue.

4- Trezor

This is the device I wanted to buy before I bought the Ledger Nano S. What is cool, this piece of technology fit on your palm and the design is cool.

Another great feature, the device support the most popular crypto on the market: Bitcoin, Litecoin, Ethereum, Ethereum classic, ZCash, Dash and ERC-20 tokens.

Also, you can recover your wallet in case you break it, with your recovery seed. Moreover, the device is water-resistant and durable, and don’t break easily.

You have the certitude to own the private key in a controlled environment, outside of the world.

Conclusion

I presented you 4 hardware wallets to keep safe your precious assets like bitcoin and ERC-20 tokens. Otherwise, you could lose your assets and this is something nobody wants to experience.

We work so hard for our money, and I think it is wise to invest some money on a hardware wallet. You can see it like a good investment to protect your wealth and increase your security and piece of mind.

Other solutions exist on the market, but remember that you need to always to have control of the private key. If you do not possess the private key, you are not the true owner, and someone else could steal your tokens.

Now, I hope this article has opened your mind to the importance of having a hardware wallet. The decision is on your shoulders, you have the chance to take the red or blue bill, which one you chose?

Are you going to buy a hardware wallet?

Ledger Wallet protects your bitcoins
Ledger Wallet protects your bitcoins
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