Cryptocurrency can seem like a daunting world to those who are unfamiliar with it. After all, unlike traditional money that can be stored in a bank account or a physical wallet that a person can carry, digital money needs to be stored differently. By using a combination of password-like private keys and public keys to send and receive funds, cryptocurrency assets can be stored and transferred on the blockchain.
While the user will always have their public key, web wallets will retain the user’s private key to remove some of the perceived complexity in handling complex letters and numbers associated with a user’s cryptocurrency assets. . Unfortunately, this is a double-edged sword because while these keys can be retrieved by the platform if they are lost, they are also under the control of a centralized party, making them more attractive to them. pirates.
In the wake of many recent price spikes, the media has repeatedly highlighted ingenious new ways in which hackers have taken funds from online exchanges. Sometimes this has even happened in plain sight, with hacks redirecting tokens from one wallet to another as the owner can only sit and watch.
But that hasn’t necessarily deterred many from investing in crypto. With a 300% increase in the prices of parts like Shiba Inu (SHIB) in the past year alone and other triple-digit revenues common in the industry, the potential for financial freedom far outweighs all concerns. However, users do not necessarily need to be subject to these risks either.
For those with a basic knowledge of digital currency, the first lesson often imparted is that hardware wallets offer much more security than their web-based counterparts. A hardware wallet is a place to store important funds that can be held for a period of time. Security, in this case, is maintained through a user having full control of their private keys, the literal key to unlock their funds.
Rather than leaving its investments in the open, Ledger makes it easy for users to control their assets. The security-focused team provides users with a solution for transactions and a storage opportunity to simplify the otherwise daunting experience new users face. With the motto, “It’s your money. Own. ”Ledger’s solutions are designed to give every user the freedom to manage their assets through a Ledger hardware wallet and the Ledger Live app.
Storage with full control
The Ledger app gives users full control, with a feature to view all of their transactions for over 1,800 cryptocurrencies and the ability to grow their assets through staking, the same way they could earn interest from of a traditional bank.
The diversity of features of this app makes the solution an ideal gateway to the cryptocurrency world, as it eliminates the need for any user to learn the intricacies of multiple platforms. As a result, the combination of a live app and associated hardware wallet ensures users can enjoy extensive functionality without losing security in the best of both worlds.
The hardware wallet is the physical part of the Ledger solution, a place where each user’s private keys are stored. Ledger’s wallet aims to provide a certain degree of isolation between a user’s keys and the online exchange, which are often the target of hackers.
These cutting-edge security features make this offer one of the first and unique portfolios on the market certified for their security by ANSSI, a French cybersecurity agency. In addition, the wallet contains a Secure Element (SE), one of the most secure chips, designed to resist sophisticated attacks and allow secure hosting of cryptographic data such as private keys.
Join the community
Ledger is now trusted by over 2 million users, a growing community with newbies and experts around the world. Support is also provided in multiple languages by the Ledger team of cryptocurrency experts. Every digital asset owner, whether it’s non-fungible tokens (NFTs) or cryptocurrency, needs a place to store them. While there are uses for all of the different types of wallets, it is the combination Ledger provided that can really help users get started in the exciting new world that digital currencies offer.
Exchange, lending and other crypto transaction services are provided by third party partners. Ledger does not provide any advice or recommendation on the use of these third party services.
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