Nobody needs to be told about the potential rewards that investing in cryptocurrency can bring to a person’s life. However, the vast majority of investors are still new to the concept of using digital currency, which is why they still need a little guidance on key decisions.
Knowing where to store blockchain and Bitcoin assets is one of the most important choices of all. A hard wallet is essential.
Here are just some of the reasons to choose a hard wallet over centralised bank or exchange solutions.
Added Protection
The success gained through making the right trades regarding the choice of coins as well as the timings can be instantly undone if someone gains access to your coins. When using a centralised option like an exchange, a hack like the one that infamously hit Mount Gox could spell disaster for your ongoing trading activities.
Using a hard wallet allows you to embrace heavily tested, quality controlled and sophisticated technology. In turn, this should provide you with far greater peace of mind. For the sake of your investment as well as your mindset, there is only one option to consider.
Control Of Coins
Without getting too technical, sending cryptocurrencies relies on two important components: public and private keys. The public key relates to your account while the private keys are specialised codes linking to the transfer of Bitcoin and other digital currencies.
A hardware wallet is one of the safest options in the digital currency sector that will truly allow you to have total control over your private key. Aside from being the best way to secure your cryptocurrency, the removal of this third-party service ensures that the trading decisions are all about you too.
Versatility
Whether you trade a few times per day or a few times per year, it’s vital that you have a crypto wallet that safely stores your crypto transactions. Hard wallets can be configured to use the side buttons as a way to avoid accidental transactions while the back-up and restore features are very useful too.
Hard wallets tend to cover a wider array of digital currencies than most centralised banks and exchange platforms. Bitcoin, Ethereum, Bitcoin Cash, ERC-20, and Dash are just five of the popular options. Others are available too, giving you a huge range of trading options.
Easier Management
Managing your investments is integral to long-term success. It doesn’t matter whether you’re a trader looking for quick gains courtesy of market trends or you’re a holder. Choosing a hard wallet gives you far greater management prospects. And not only because all assets are in one place.
One of the best wallets in the market is OctoWallet, which can be connected to mobile devices to protect investors’ cryptocurrency transactions. While this is primarily a feature that’s built with safety in mind, it also offers the chance to manage investments on the go. Moreover, you can disconnect the USB-C cable to avoid the threats associated with other options.