So, you’re trying to up your crypto security huh? A wise choice!
Dealing with cryptocurrency can be a tedious, albeit rewarding process. There are tons of things you need to learn before getting started, like how the economy works, what blockchains are, and how, as well as where, you can transact.
However, the most important part of cryptocurrency is security.
Keeping your account safe and secure ensures that your assets will remain untouched by anyone else besides you.
Unfortunately, even if you try your best to keep your account under strict lockdown, there’s still a chance you might lose your funds. Thankfully, there are so-called “hardware wallets” that can grant you additional security and peace of mind.
In this article, I’ll discuss what hardware wallets are, how they can help protect your account, as well as how to use them, specifically the Trezor Model One (although the process is basically the same for a Ledger or any other hardware wallet).
What are Hardware Wallets?
Hardware wallets are a type of cryptocurrency wallet that provides additional layers of security to your assets. Unlike digital wallets, hardware wallets are tangible devices that store your private keys and seed phrases.
Because it is a physical wallet, hackers will have a much harder time taking out your assets. Most hardware wallets require the user to connect the wallet to their device, and input a passcode to access their crypto.
Why Should I Use One?
The main reason why someone would get a hardware wallet is for security. If you have tons of assets in an account, it’s a no-brainer that you’d want to keep that account safe, sound, and secure.
You might be thinking, “Why should I spend money on a digital lock when I kept my cryptocurrency safe for a long time without it?” The simple answer is, again, added security.
Even if you’re completely confident in your crypto habits and have good security practices, hackers are always lurking in the shadows. One wrong move and your assets are as good as gone.
Why wait for that to happen if you have the choice to protect them now? At the end of the day, that decision is absolutely yours to make, as well as the potential losses.
How Can I Use a Hardware Wallet?
You can buy hardware wallets almost everywhere online, and one of the most popular models is the Trezor Model One. Being arguably the most well-known, accessible, and trusted hardware wallet, I will focus solely on how to set up the Trezor Model One.
Setting the Trezor Model One for the first time is a pretty straightforward process and would probably only take a few minutes. Just follow these steps:
- Connect your Trezor to your computer and follow the on-screen instructions
- Go to trezor.io/start and learn how to use the pin and recovery seed
- Install the Trezor Chrome Extension or the Trezor Bridge for other operating systems.
- Install the latest firmware available
- Unplug and reconnect your Trezor
- Name your device and set up the pin
- Take note of the 24-word recovery phrase
- Enter the pin and gain access to your wallet
If you’ve successfully completed these steps, you’re all set and good to go!
- Buy hardware wallets from a trusted and reputable source
- Take note of your passwords, pins, and phrases
- Store your Trezor somewhere secure, yet easily accessible
- Having a Trezor won’t make you necessarily 100% secure, especially if you’re not careful
- Use a Trezor if your account has assets that you absolutely cannot afford to lose
Troubleshooting Performance & Technical Issues in Axie Infinity
Have you experienced issues and errors when playing Axie Infinity? Most of the time, a quick restart of the game
How to Make a Resume for Axie Infinity
You’ve probably seen quite a few of these resumes for Axie Infinity scattered across the internet. Forums, Facebook groups, and
How to Avoid Getting Hacked in Axie Infinity
Axie Infinity is an NFT game, meaning that you’ll have to shell out real money in order to buy cryptocurrency,