How is a Hardware Wallet used to physically store Cryptocurrency?

What is a Hardware Wallet?

Hardware Wallets are one of the most secure methods of cryptocurrency storage.

In addition to being completely offline, Hardware Wallets are immune to nearly all computer viruses and malware programs.

Hardware Wallets also have special, protected areas of the microcontrollers that store your private keys.

These prevent your keys from being transferred out of the hardware in plaintext, guaranteeing Always-on Encryption.

In fact, to date, there have been no verifiable incidents of cryptocurrency being stolen from Hardware Wallets.

Popular Hardware Wallets include Ledger, TREZOR, and KeepKey.

Hardware Wallets should always safely stored under lock and key.

Credits:

This FAQ was created by James D. Ford GAICD | Principal Solicitor, Blue Ocean Law Group℠.

Important Notice:

This FAQ is intended for general interest + information only.

It is not legal advice, nor should it be relied upon or used as such.

We recommend you always consult a lawyer for legal advice specifically tailored to your needs & circumstances.