Cryptocurrency investors with some experience know how beneficial a hardware wallet can be. These storage devices are often preferred instead of software wallets, mainly due to their secure nature. Software wallets like the Guarda Dash wallet allow you to store over 50 cryptocurrencies.
But maybe you are looking for something that offers you maximum security like a hardware wallet. While you may be aware of how advantageous a hardware crypto wallet can be, there are some things you need to consider before purchasing one. Fortunately, this post is packed with helpful tips to ensure the safety of your crypto funds on a hardware wallet:
1. Go for a Good Design
Although the safety of the hardware crypto wallet is the most important aspect, you shouldn’t ignore 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 catchy. Others are small and blend in with typical items from your daily life, such as keychains, smartphones, car keys, and anything of the sort.
Make sure to choose a wallet that not only suits your design preferences but is also durable. Whether you go for something more discreet or something that stands out is up to you.
2. Don’t Fully Rely on the Hardware Crypto Wallet
Now, sure, when you get a hardware wallet, you do it because it’s very secure, especially compared to a software alternative. At the same time, you must consider some backup options – this means you shouldn’t store all your cryptocurrency holdings on your hardware wallet. This is because if the device gets lost or damaged, you could lose all your investments.
Consider alternatives and keep paper copies of the wallet.
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’s important to find a device that operates with your chosen coins. Some wallets let you store specific coins without offering the chance to sell, purchase, exchange or stake them.
4. Picking a Battery or No-Battery Wallet
When it comes to hardware crypto wallets, you can go for a battery or no-battery one. It’s up to you which one you choose.
However, battery ones tend to have a shorter life as the battery will stop functioning over time. Thus, crypto investors often go for wallets that rely on the energy they take from the device they are connected to.
At the same time, there are high-quality battery crypto wallets like Ledger Nano X.
5. Going for the Right Price
You don’t need to break the bank to get a hardware wallet. Cheap options start at around $50, while pricier ones can cost you a few hundred dollars. More advanced devices may have higher costs, so you should be ready to spend more. But if you are looking for something simple and secure, a cheaper wallet is more than enough.
6. Adding More Security
A hardware wallet is already safe enough, but that doesn’t mean you cannot add extra safety features. You should enable 2-factor authentication and perhaps even add anti-virus software on the device. It could save your crypto investments if they are endangered in any way.
So, are you ready to get your first hardware crypto wallet? Consider these tips first so that you can get a high-quality and secure wallet.