The world of cryptocurrencies is fascinating. With the global population increasing to 7.5 billion, recent estimates suggest that cryptocurrency has gained traction with 45 million people today, This represents about 1/2 of 1% of the global population.
Where does the need for a hardware wallet arrive?
Now that your friends and colleagues have convinced you to join a cryptocurrency platform, you’re all set to take the plunge into this exciting world. But what about the safety and security of your coins? What if you discover that all your cryptocurrencies are vulnerable to online hackers? What if yet another hard-fork happens? It is imperative to protect your coins as much as possible when holding large amounts of money. One also need to safeguard their private keys, and a hardware wallet is the best way to secure it.
A hardware wallet is a physical device, a particular type of wallet which stores the user’s private keys in a secure device. These wallets add a few layers of security to ensure that your cryptocurrencies are safe against attackers and malware. Although it may seem like an unnecessary expense now, it could be a great defense against attackers in the future.
How does hardware wallet provide security?
Entering into a more dynamic territory, potential losses from theft or user errors can be costlier. The fundamental principle behind the coming of hardware wallets is the complete isolation of your private keys or cryptographic codes. Since the virtual world is more vulnerable to attacks, a hardware wallet stores everything offline.Though it may seem like a minor issue, offline storage is the most excellent defense of a hardware wallet. It sets offline storage for your private keys and coins. A hardware wallet never exposes the private keys to any computer or the internet. It remarkably reduces the possibility of a hacker being able to steal your coins. By keeping your keys stored on the secure element inside a hardware wallet, you have the freedom to connect to a computer without worrying about whether you can trust it. Even a computer infected with malware won’t be able to access your private keys. Plus, if the computer you regularly use to send cryptocurrency dies, your keys are still safely stored on your hardware wallet and can be brought onto a new device.
Not only this, the data stored in a hardware wallet is encrypted, either with a PIN or any other form of authentication adding another layer of security. The device holds the keys and signs transactions for you. In case of theft, a stolen wallet will be locked with a password and will be useless to any potential thief. You’ll be able to recover your coins on any device or import them into a new hardware wallet.
Vault0x- The 21st-century First Wearable Crypto Wallet
Vault0x provides with a secure implementation of Blockchain wallets embedded in a wearable device. The premier hardware supplied by Vault0x has secure cryptographic algorithms as its backbone making it safe and thereby revolutionizing the technological arena. It comes with a variety of dazzling features to protect and safeguard Cryptocurrencies.
Reliability- Vault0x is a hybrid crypto wallet that delivers all the ease of use and convenience associated with a standard digital-wallets while simultaneously empowering users to maintain full control over their private keys. It provides a convenient way to make payments using blockchain and protecting the user throughout the process. Vault0x also offers a comfortable and a secure method of two-factor authentication, based on a universal standard. Universal Second Factor (U2F) provides an additional layer of security thereby safeguarding the sensitive information.
Security — Security is the primary concern with any blockchain Wallet which is available in the market. Vault0x comes with highly efficient self-defense mechanism. Wallet encryption is turned on for all the actions taking place inside wallet and communications between computer and wallet. A separation is provided for the spending keys and receiving addresses to avoid theft and accidental loss. A physical self-defense mechanism destroys the wallet core components in case of tempering and illegal access.
User-friendly — Surpassing the challenging concerns about hardware wallets regarding portability, aesthetics, battery life, robustness and performance, Valut0x has devised a wearable wallet which will provide peace of mind. Not just this, Vault0x wallet supports multiple significant Cryptocurrencies. They can be used to send/receive payments ranging from strong Currencies like Bitcoin, Ethereum, etc. to lightweight coins like the Litecoin. Vault0x also support all the major forking and provide the user with the best results.
Hardware wallets are a necessity to keep your coins fully protected. There has been a gradual increase in overall coin market cap, and it is likely that your holdings may increase as well. With a cloudy vision neighboring the financial world and governmental structure, why not take control and safeguard some of your assets today?
