Every crypto investor's worst nightmare came true in February of 2022, with a game-changing exploit that saw potential losses of $326 million. It's an unthinkable scenario, all of your wealth being at the mercy of a hacker. There are ways to safeguard your crypto, but not everybody knows about them.
One of those options is Cold Card Wallet Crypto. These new cold storage wallets make it easier than ever to avoid any online dangers.
How do these hardware wallets work, though? Will they benefit you? We'll take a long look at these wallets and see just what they do, so read on.
The Rise of Hardware Wallets
The concept of hardware wallets has been around for some time now, so it's not a foreign or risky concept. For a lot of investors, they plan to hold their coins for an indeterminate amount of time anyway, so why keep them on a trading platform?
A hardware wallet makes perfect sense if you fall into this camp. Keeping the crypto accessible online only puts it at unnecessary risk. If you've got no intention of trading with it then why bother?
They keep all of the private keys safe and secure on the device in a way that isn't accessible even if plugged into a computer. Even if it is connected to a device, it uses special public keys to keep the degree of separation.
So even if it's forced to interact with a device infested beyond belief with viruses or worse, your crypto will be bulletproof.
The Best Cold Storage Wallets
So what does that mean for the potential buyer? There are plenty of options on the market out there. The supply is due to the meteoric rise in popularity that cryptocurrency has experienced.
We want to look at the right wallet, though.
The Coldcard wallet seems like a surefire bet for the new investor and the hardened crypto trading veteran alike. There are no frills on this device; it's all business, as you can see by the efficient minimalist design.
What's more, it's one of the easiest to use wallets to use that feels sturdy to boot. A lot of the sleeker wallets make navigation difficult and can feel a little too small and flimsy. The Coldcard reviews praise it for its security and great design.
Cold Card Wallet Crypto the Best Solution for Bitcoin
To some, a drawback of the Cold Card Wallet Crypto might be that it doesn't support altcoins. It's a wallet that has a sole dedication to Bitcoin, the OG of the crypto world. Bitcoin is for holding, not for selling, so it makes sense.
You're far more likely to make regular trades with altcoins, but not with Bitcoin. There's also the added benefit of security from focusing on the single protocol. Fewer loopholes and fewer potential thieves.
So if you've got a stockpile of Bitcoin that you'd like to keep safe, consider taking a look at the Coldcard store and putting down a purchase of their Mk3. If you like to HODL, then you'll love this wallet.