Cryptocurrency wallet is basically a piece of software which stores all the public and the private keys which we use in order to undertake transactions with our cryptocurrencies. It is highly advised that a particular trader, after the completion of trades on any cryptocurrency exchange, store them into his personal cryptocurrency wallet. This is to prevent the losses of the cryptocurrencies, due to the hack attempts on the cryptocurrency exchanges, as one of the most popular sayings goes
“Better be safe, than sorry.”
The decentralization due to the cryptocurrencies has bought the vaults used by the banks to store our funds in our smartphones, computers, as well as other handheld devices. Hardware wallets are synonymous to cold storage devices, unlike the hot wallets (like web wallet and software wallets) they are considered to be one of the safest means to store cryptocurrencies as they are completely disconnected and offline.
One of the leading Bitcoin security companies in the world is, France based, Ledger. The company has a stronghold in wallet providing the industry with expertise since the year 2014. It is one of the most preferred ways to store Ripple in Nano S wallet for a prolonged duration of time in an easy manner. The key feature of this hardware wallet is that it supports a suite of cryptocurrencies to choose from.
It supports the most popular cryptocurrency coins such as Bitcoin, Bitcoin cash, Ripple, Ethereum classic, ERC 20 tokens and others as well. XEEDA ensures a hack-proof as well as a tamper-proof hardware wallet. It also provides an integrated mobile app which can be used for faster access of the encrypted data in the hardware wallet by simply connecting the wallet to the smartphone. Initiating as well as managing Ripple transfers have been made very seamless by this hardware wallet.
Apart from Ripple, the cryptocurrency hardware wallet even supports Bitcoin, Bitcoin cash, Ethereum, and many other popular cryptocurrency coins. It is also certified to be the only hardware mobile wallet for Android and IOS smartphones. The cryptocurrency coins are stored in an EAL5+ certified microchip of the physical device. It can securely communicate with the smartphone with help of the encrypted Bluetooth facility, without any physical USB connections.
When compared to the web wallets, software wallets, as well as the wallets provided by the cryptocurrency exchanges, the hardware wallet proves to be one of the most secure ways of storing the Ripple coins or any other cryptocurrency for that matter. Sustaining in the cryptocurrency market is challenging due to the insecurity that the centralized cryptocurrency exchanges and online wallets providers pose to the investors. Safeguarding our investments solely is our responsibility. Many investors in the field do not opt for Hardware wallets from to the pressure due the free services that the online wallet providers give provide. It is an undeniable fact that hardware wallets provides unmatched security.