Ledger — Is it the safest way of storing crypto assets?
When it comes to pure investment in crypto market, the common opinion is shouted:
“Do not store crypto assets on a stock market”
The most often reply sounds, will transfer everything to ledger.
Storing crypto can be proceeded in different ways, for example like mentioned above: keeping it on the stocks.
However, it can be extremely vulnerable. Stealing assets directly from exchanges is a lot easier. Moreover, when crypto exchange falls apart, it can be to impossible to withdraw funds.
Agenda:
- intro,
- definition,
- how it works,
- conclusion.
Definition
It is a hardware cryptocurrency wallet made by a company named Ledger. Ledger’s wallets are able to store multiple cryptocurrencies and simultaneously be super safe, by keeping private keys offline.
How it works
“Ledger’s hardware wallets are device-based, which means they use storage mechanisms — USB drives — to store private keys, thereby making it difficult for hackers to access the key from an online location.”
Conclusion
Ledger wallets are extremely secure for holding crypto assets. It is obvious that ideal solution does not exist, but it is very close to the perfect model.
Holding private keys offline can be very beneficial, it prevents from the most often way of hacking crypto wallets.
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