Cryptocurrency investors with some experience know how beneficial a hardware wallet can be. These storage devices are often preferred over software wallets, mainly due to their secure nature. Software wallets like the Guarda Dash Wallet allow you to store more than 50 cryptocurrencies.
But maybe you’re looking for something that gives you maximum security, like a hardware wallet. Although you may know how beneficial a hardware crypto wallet can be, there are a few things you need to consider before purchasing one. Luckily, this article is packed with helpful tips for keeping your crypto funds safe on a hardware wallet:
1. Go for a good design
Although the security of the hardware crypto wallet is the most important aspect, you should not ignore the design and aesthetics. Each device has a unique look, depending on who makes it.
Some hardware wallets are quite flashy: they are made from gold or other precious metals and are quite eye-catching. Others are small and blend in with typical everyday items such as key rings, smartphones, car keys, etc.
Be sure to choose a wallet that not only matches your design preferences, but is also durable. Whether you go for something more understated or something that stands out is up to you.
2. Do not rely entirely on the hardware crypto wallet
Now, of course, when you get a hardware wallet, you do so because it’s very secure, especially compared to a software alternative. At the same time, you should consider some backup options – this means that you don’t have to store all of your cryptocurrency holdings on your hardware wallet. Indeed, if the device is lost or damaged, you risk losing all your investments.
Consider alternatives and keep hard copies of the portfolio.
3. Choose a wallet that supports your coin preferences
Each hardware wallet will support a certain selection of cryptocurrencies. If you already work with cryptos, it is important to find a device that works with your chosen coins. Some wallets allow you to store specific coins without offering the option to sell, buy, trade or stake them.
4. Choose a wallet with or without a battery
When it comes to hardware crypto wallets, you can opt for battery or batteryless. It’s up to you which one you choose.
However, battery-powered ones tend to have a shorter lifespan because the battery will stop working over time. Thus, crypto investors often opt for wallets that depend on the power they draw from the device they are connected to.
At the same time, there are high-quality battery-powered crypto wallets like Ledger Nano X.
5. Opt for the right price
You don’t have to break the bank to get a hardware wallet. Inexpensive options start at around $50, while more expensive ones can set you back a few hundred dollars. More advanced devices may have higher costs, so you should be prepared to spend more. But if you’re looking for something simple and secure, a cheaper wallet is more than enough.
6. Add more security
A hardware wallet is already secure enough, but that doesn’t mean you can’t add additional security features. You need to enable 2-factor authentication and maybe even add antivirus software to the device. This could save your crypto investments if they are in danger in any way.
So are you ready to get your first hardware crypto wallet? Consider these tips first in order to get a secure and high-quality wallet.