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How to use a crypto hardware wallet

How to use a crypto hardware wallet


Investing in cryptocurrencies is risky due to the crypto market’s volatility, regulatory uncertainties, and high-profile incidents of hacks, scams, and frauds. The midyear report of Chainalysis on cryptocurrency-related crimes in 2022 reveals that roughly $1.9 billion worth of cryptocurrency was stolen in hacking incidents and frauds compared to less than $1.2 billion last year. To keep cryptocurrency assets safe, traders can use a hardware wallet. A hardware wallet is a physical device, similar to a USB drive, that stores private keys for offline cryptocurrency storage, making it a secure option for anyone holding a large amount of crypto for a longer time. This article explains what a hardware wallet is, how to use it, and its benefits. It also provides information about available hardware wallets to safely store cryptocurrency assets.