Why is hardware wallet safer to store Cryptocurrency? Why is Ledger Nano S the saferchoice?

What are Cryptocurrency Hardware Wallets?

Cryptocurrency hardware wallets are physical devices sometimes in the form of an USB drive
which enable you to securely generate and store your private keys offline. So why are we making such a big fuss with you getting it? Safety of course, read on to find out what we mean...

​Problem with online storage of cyptocurrency

​Cryptocurrency world is still very much under-regulated. The lack of law enforcement
cryptocurrency world may subject yourself to many potential hackers lurking out there, with their appetite for the vast amount of currency in the cryptocurrency world.
The hacking of the Mt Gox exchange in 2013 being one of the most prominent examples. Many of the times, once funds are hacked and stolen, it is almost certainly impossible for you to get them back.
Fortunately, there are a few options to consider when storing your cryptocurrency securely with ease such as hardware wallets.

So what is it again? 

A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital
currency like Bitcoin. Most coins have an official wallet, or a few officially recommended third-party wallets. In order to use any cryptocurrency, you will need to use a cryptocurrency wallet.
Any wallet will include:
 2 Types of Keys: Public and Private Keys that enable access to tokens stored on the
wallet
 Algorithms that manage the keys and enable you to send and receive funds on the
cryptocurrency network
There are two types of wallets, namely Hot and Cold wallets. Hot wallets are connected to the internet in some way, making them more susceptible to hacking. Cold wallets are considered more secure as they are not connected to the internet and typically require some sort of compromise to the physical device in order to be hacked.

​Why is hardware wallet safer to store cryptocurrency?

​A hardware wallet falls under the category of cold wallet. A storage wallet that allows you to store your funds on a device most of the times on a USB. Hardware wallets generate their own private key privately (not even oneself can see) and store it right on the device.
The beauty of hardware wallets is that, using pin access, they can connect to your computer and internet to allow you to exchange and manage your assets at your fingertips. When you are

done managing your funds, you can simply disconnect your wallet from the internet and store it in a physically safe location therefore making your private keys off-limits to cyber hackers.
What’s more, most hardware wallets have additional features to make them more secure and easy to use such as small screens and two-factor authentication.

The best in the business : The Ledger Nano S.

​There are a variety of hardware wallets out on the market, however, one of the most popular and trusted is Ledger Nano S.
What is so special about the Ledger Nano S? What makes it different from other hardware wallets?
Here is the difference:
 You can use the Ledger Nano S to store up to 25 cryptocurrencies such as Bitcoin (BTC),
Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH) + ERC20 Tokens, Ethereum
Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), Zcash (ZEC), Ripple (XRP), Dash (DASH),
Stratis (STRAT), Komodo (KMD), Ark (ARK), Expanse (EXP), Ubiq (UBQ), Vertcoin (VTC),
Viacoin (VIA), Neo (NEO), Stealthcoin (XST), Stellar (XLM), Hcash (HSR), Digibyte (DGB),
Qtum (QTUM), PivX (PIVX), PosW (POSW).
 You are able to control many accounts for all supported cryptocurrencies. This means
that all cryptocurrencies stored in ledger will be secure with the same backup key. For
instance, if you are storing BTC for your friends or family, you can label those account
for them and keep them safe as if they were your own.
 When used with MyEtherWallet, Ledger supports all ERC tokens.
 Ledger is compatible with any computer operating systems such as Windows, Mac,
Linux, and Chrome. Furthermore, Ledger can be connected to your Android device using
an OTG cable.
 To receive Bitcoin, your Ledger Nano S can receive it offline. It does not need to be
connected to a computer.
 Storage: Unlimited coins.
 Updating your wallet is simple. You do not need to transfer coins to anywhere. After
updating and restoring, all the coins will reappear automatically.

​So why buy Ledger Nano S from GeekBite?

​Geekbite has thousands of reviews on popular ecommerce websites such as Qoo10, Lazada and Shopee. We are an authorized distributor of Ledger Nano S. This means you can rest assured that our products are authentic and trustworthy. We also offer the best price, best service and best reliability of your product. 1+4!

Any purchase of Ledger Nano S from Geekbite will entitled you to a free pouch for your Ledger, a bitcoin souvenir and an OTG Connector! Lastly, all our customers will receive a tutorial and video guide on how to set up the Ledger Nano S account and password, transferring of cryptocurrency and many more!

Conclusion:
Ledger Nano S is our recommended hardware wallet for most serious crypto investors. Our advice is that if you’re intending to invest seriously, it’s probably the right choice to invest in a hardware wallet. Hardware wallets will give you an extra layer of protection against cyber attacks, phishing sites, and malware. If you are still considering to spend $100+ now for this small device, just imagine how more painful it will be to lose much more later due to poor security for your cryptocurrency.

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