We explore the state-of-the-art in safe storage of cryptocurrency as debates sparked by Peter Schiff’s alleged loss of his funds continue.
Hardware Wallet News
A hardware wallet is a device where a user’s cryptocurrency wallet and private keys are stored. Cryptocurrency hardware wallets are considered to be more secure than software wallets, as they are immune to most viruses and have no need to interact with potentially-vulnerable software. There are no well-known and proven cases of funds being stolen from Bitcoin hardware wallets. However, hardware wallets for Bitcoin do not make its user invulnerable to frauds or thefts. Hardware wallets can be compromised with insecure random number generators that are often implemented into hardware wallets for security, with compromised shipping and production processes and imperfect usage of the device. Bitcoin hardware wallets are currently made by various companies such as Ledger, TREZOR and BitLox.
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