With hardware wallets, you can use an accessory as a key that gives you access to your wallet. The advantage is that you don’t depend, for example, on an exchange that stores Bitcoin or other crypto assets. You also cannot fall victim to hackers who take your coins. We discuss four wallets that also work with your phone.
You store cryptocurrencies on the wallet, which is almost comparable to a bank account, but for your own cryptocurrencies. The wallet is connected to the blockchain, which is the core technology of Bitcoin and other cryptocurrencies, and ensures that transactions can be made.
Contrary to what the name “hardware wallet” suggests, your cryptocurrency is not literally stored on such a physical accessory. In fact, only the hardware wallet stores you Secret key, This is the key to giving yourself access to your wallet. The advantage is that your personal key is not only available online, this way you are protected from the attempts of hackers who want to stay away from your cryptocurrency.
Unfortunately, this is not uncommon with portfolios and exchanges. ZDNet For example, a series of hacking attacks have already been listed as of 2020. Every month, it comes to dozens of attempts by malicious actors. With the hardware wallet, you saved the key yourself on your own devices. Below you’ll find four device wallets connected to your phone.
1. Ledger Nano S
Ledger is one of the most well-known manufacturers of hardware wallets and the Nano S is their most accessible product. The Nano S is similar to a USB stick, but it has a screen where you enter a PIN code as an extra layer of security before you can access your wallet. You can connect the device to the USB port on a computer, but you can also operate it with an Android phone via OTG or USB on the go. You can use a USB-a to USB-c adapter, then use an Ledger application. In addition to the Nano S, there is the more expensive Nano X which lets you store up to 100 different cryptocurrencies. The Nano X also lets you connect to a phone via Bluetooth.
2. CoolWallet S
Coolwallet S is aimed at Bitcoin owners, as this is the only cryptocurrency it supports. The extension takes the form of a debit card, but has a small screen. It focuses on smartphone users more than Ledger, because everything starts with connection in return CoolBitX encryptiona program. The card is waterproof, heat-resistant and flexible. It supports Bluetooth and NFC technology, and you have to charge the battery every two weeks using the included charger.
CoolWallet S costs around € 100 and you can find it on other sites Amazon.
3. The first vault
Trezor One is a hardware portfolio focused on ease of use, it’s a key size but comes with a screen and two buttons. Trezor One has a micro-ub port, and you can connect the device to the computer’s USB-A using the included cable. You can also connect Trezor to your phone and then use it with various mobile wallets. It supports many different cryptocurrencies and is also a great value extension.
4. BitBox 02
BitBox 02 was manufactured in Switzerland and the device is firmly committed to security with a number of additional features. For example, you can show a fake wallet to hide your real wallet. The device looks like a powerful USB-C stick with a screen, and you can connect it directly to a phone via the BitBox app or to a computer. Additionally, you can also use BitBox 02 as a two-step verification device with other services. The disadvantage of this extension is that you can only store Bitcoin, Ethereum, Bitcoin Cash and Litecoin cryptocurrencies.
BitBox 02 sells for around 60 € per ao Amazon.
Lost your device wallet?
But what if you lose your hardware wallet, have you lost access to your cryptocurrency forever? Fortunately not. There are so-called “seed phrases” for this. This is a kind of backup code consisting of a series of 12 to 24 random words, and the four letters of each of these words serve as a fallback definition. Just be sure not to keep this initial phrase online, as this will partially wipe out the benefits of your hardware wallet. Are you already using a hardware wallet, or are you opting for other solutions? Let us know in the comments at the bottom of this article.
Theme of the week on Androidworld
This article is part of the Cryptocurrency Topic Week on Androidworld. Do you have a question about the topic we are discussing during this Subject Week Or ideas or tips? Then let us know in the comments below this article. You can also email us Via this email address Or leave a message on The social networking site FacebookAnd Instagram in a Twitter. Additionally, you can ask us questions via this Telegram group Or this signal group. Prefer to send a tip to an editor? Then you can too!