Hardware wallets, or Without the private key, the cryptocurrency does not belong to you

2018 showed kriptosistem that there are many risks that must be offset. These include the security threat. What you can do for the safety of their coins in 2019? We want to know what makes different blockchain projects to counter network attacks. We want to see that the exchange take additional steps according to the type of two-factor authentication. However, sometimes the community is fond of the activity companies that they forget about their own responsibility for scriptactive.

The contents

The recent cases of theft of cryptocurrency

Since the cryptocurrency industry is in its infancy, it is not surprising that in the past we often met with inadequate security measures, which resulted in the break-ins and theft. In one of the latest attacks, the hackers stole the coins almost 60 million dollars from the Japanese stock exchange Zaif – and this is just one example.

At the beginning of 2018, another Japanese exchange Coincheck has gone down in history as the biggest victim at the moment of stealing cryptocurrency from the exchange, losing assets by approximately $ 400 million. 2018 actually turned out to be a record break-ins sites and lost money. Once we know that in the past year investors have been subjected to great personal risk, what should be done in the present to reduce the risk? Let’s talk about the hardware wallets: what are they, why use them, and how you can protect yourself in the new year.

In cryptosuite there is an old saying: if you have no keys, then your cryptocurrency does not belong to you. In this sentence actually summarizes the problem of cripture.

The exchange is overwhelmingly centralized platform to facilitate transactions. It is not the banks. Although the major stock exchanges like Binance, Coinbase, and others far advanced in terms of measures of security. In case you actually trust the security to a third party instead of yourself to take care of safety of funds. And here it may be useful to hardware wallets.

What is a hardware wallet?

Image source — Hardware Wallets

Hardware wallet is a physical device used for secure storage of private keys away from everyone except the main user. These devices store your private keys in encrypted offline environment. This means that your wallet is not vulnerable to the attacks against exchanges and even individual investors, through a software of wallets. We are talking about purses on a computer or phone with Internet connection, also known as “hot wallets.”

Why use a hardware wallet?

The answer is obvious: safety. Storage of crypto-currencies, especially long – term investments on the hardware wallet ensures that the asset really belongs to you and is protected. Storage of crypto-currencies on the exchange can be represented as the existence of payment obligations, not the cryptocurrency. If you exchange something happens – be it hacking, Scam or some unforeseen problem with the team exchange your bitcoin will be lost.

How to get a hardware wallet?

Investors a variety of options for offline storage, including any offline computer and paper wallet, but they have their limitations. Fortunately, with the development of kriptonyte there are many companies that specialize in creating hardware for the secure storage of cryptocurrency. You may have heard such famous titles as the best wallet, the Ledger Nano’s and KeepKey. All three are excellent and easy to use options. These and other wallets support different cryptocurrency that allows you to store bitcoins, esters and all kinds of tokens in one place.

Source: Hash Telegraph

Safety tips

Of course, the hardware wallet is just a tool, though effective. It is important to remember that in the end, security depends on you. So here are some tips for the safe use of the purse:

  • always buy hardware wallet directly from the manufacturer: avoid over cheap used purses from flea markets, and especially free of the purses that give at various events;
  • always make a backup led-phrases and phrases to restore the wallet: it’s a mnemonic phrase that will be needed to restore the wallet if it is lost or stolen;
  • always store the wallet seed phrase and a phrase for recovering separately and in a safe place: if someone finds your hardware wallet, which is stored in the safe or Cabinet along with everything else that is needed to restore the wallet, you’ll help the thief. Ideally, all this should be kept in different safe places. Let it be a safe, Deposit box and so on.

At the end

Hardware wallets are much safer than storage of cryptocurrency on your phone or PC, and certainly much better than storing funds in the stock exchange. But do not forget that ultimately, safety depends not on them but on yourself. More data look at cryptodata.

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0 Comments on “Hardware wallets, or Without the private key, the cryptocurrency does not belong to you”

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    Jewish Rabbis have publicly announced that their Messiah will be revealed in the coming years who will be a leader and spiritual guide to all nations, gathering all igions under the worship of one God

    Biblical prophecy tells us that this Jewish Messiah who will take the stage will be the antichrist who opposes and exalts himself above all that is called God or that is worshiped, so that he sits as God in the temple of God, showing himself that he is God (2 Thessalonians 2:4) For a time he will bring about a false peace, but Therefore when you see the ‘abomination of desolation,’ spoken of by Daniel the prophet, standing in the holy place (Matthew 24:15) then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be (Matthew 24:21)

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    He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name

    Here is wisdom Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency This Mark couldn’t be spiritual because the word references two different physical locations If it was spiritual it would just say in the forehead RFID microchip implant technology will be the future of a one world cashless society containing digital currency It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it Revelation 13:11-18 tells us that a false prophet will arise on the world scene doing miracles before men, deceiving them to receive this Mark Do not be deceived! We must grow strong in Jesus AT ALL COSTS, DO NOT TAKE IT!

    Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11)

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    Jesus came to free us from the bondage of sin The everlasting fire was prepared for the devil and his angels due to disobedience to God’s law If we do the same, what makes us any different than the devil? Jesus says unless we repent, we shall perish For sin is the transgression of the law We must walk in the Spirit so we may not fulfill the lusts of the flesh, being hatred, fornication, drunkenness and the like Whoever practices such things will not inherit the kingdom (Galatians 5:16-26) If we sin, we may come before Jesus to ask for forgiveness (1 John 2:1-2) Evil thoughts are not sins, but rather temptations It is not until these thoughts conceive and give birth by our own desires that they become sin (James 1:12-15) When we sin, we become in the likeness of the devil’s image, for he who sins is of the devil (1 John 3:8); but if we obey Jesus, in the image of God For without holiness, we shall not see the Lord (Hebrews 12:14)

    The oldest igion in the world is holiness through faith (James 1:27) What igion did Adam and Eve follow before the fall? Jesus, Who became the last Adam, what igion does He follow? Is He not holy? He never told us to follow the rituals and traditions of man but to take up our cross and follow Him (Luke 9:23) There are many false doctrines being taught leading people astray This is why we need the Holy Spirit for discernment Unlike igion, holiness cannot be created It is given to us from above by the baptism of the Spirit Jesus is more than a igion; He is about having a personal ationship with the Father Start by reading the Gospel of Matthew, to hear the words of God, to know His character and commandments Follow and obey Jesus, for He is the way, the truth, and the life!

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