A hardware wallet is the major element of the blockchain ecosystem. It is a wallet with a specially designed motherboard, that stores your key on a physical device. Hardware wallets provide you with extra layers of protection that prevent your private keys from cyber attacks, phishing, and malware. Why do people prefer these over software wallets? Here are some of the advantages of hardware wallets over software wallets: 1. Security: Hardware wallets are the safest way to keep your private keys because they are not exposed to viruses. An encryption pin protects the hardware wallet. This pin is created and known only to you. If someone tries to start the device by manipulating different pins forcefully, the device will stop automatically after the third wrong pin entry. 2. Self Reliance: Possessing a hardware wallet permits you to be more self-reliant when guarding your bitcoin. You have to confirm your transaction via your hardware wallet and not online. Hence, nobody can complete transactions without getting access to your device. 3. Physical Size: As we know that a hardware wallet is smaller than a computer; keeping your private keys on a hardware wallet makes it more comfortable to transfer your bitcoin when required. 4. Hosting multiple Cryptocurrencies on the same wallet: Cryptocurrencies are not material things that need space. Thus, there is no limitation to how many cryptocurrencies your wallet can carry. Some Hardware...
