Hardware wallets are better than cloud or web-based software storage due to their high degree of control and security against cybercrime. But what is the most secure hardware wallet? In this article, you will know just that. You will read about the different ways a hardware wallet can help you and some of the top-notch brands of cold storage that work for your requirements:

How Do Hardware Wallets Work?

All your transactions will be accessed from the software-watching wallet that you have created previously with no private keys. The user enters the sending and receiving address and the amount they would like to transfer. Since the software wallet does not possess private keys, the transaction would be unsigned.

The software wallet connects to the hardware wallet via a USB or external connection without a signature. Since the hardware wallet consists of private keys, it can add the signature to the transaction and authenticate it. It then communicates back to the software wallet with a signed transaction. This transaction is then posted to the node network, and the transaction is confirmed.

Unfortunately or fortunately, not all hardware wallets are made equal, and their security can only be judged through the number of layers it provides. Cryptocurrencies and similar digitized assets run on blockchain technology and require special security. They possess hardware that runs on a chip, an operating system, and an anti-tampering authentication check. The lattermost is where the high-end security lies. The checking process included setting up a unique PIN and passphrase.

List Of Secured Hardware Wallet Brands

Trezor

Introduction

Trezor is a brand established by SatoshiLabs, specializing in the infamous Model One and Model T wallets. Trezor products are extremely suitable for multi-trading and are the best choice for novices and professionals alike. The two competing products in their product line are the Model One series and Model T- New Generation.

The Model One was the first product launched in 2013 using the Hierarchical Deterministic key and BIP32 transfer protocol. Providing more than 1000 crypto support, RGB display, and accessible use, Model One is all-compatible with Android, OSX, and Linux, but not iOS.

Both their products are EAL5+ certified and pick between the Trezor Model T Vs. One cold storage necessitates a thorough examination of its benefits and features. For example, Trezor T has an unrivaled support mechanism for various cryptos. In terms of security, both of these products work wonders to store and secure a broad range of cryptocurrencies effectively.

The Model T also has a color touchscreen and updated USB-C hardware compatibility. While both provide excellent, sophisticated cyber security, the Trezor Model T is superior due to expanded support and enhanced hardware features. However, they are on the expensive side of the budget spectrum. Some of their salient features are as follows:

Features

• Supported Coins: When looking for a quality hardware wallet, supported coins are the first factor to consider. With Trezor products, you don’t have to worry about that. Both Trezor products support an exhaustive list of cryptocurrencies and tokens. The Model T supports about 1389 currencies, while the Model One supports around 1000.
• Digital Security Protection: Trezor’s excellent security takes the crypto trading experience to a new level. With EAL5+ protection, they are also verified and audited to have the best firmware built into their systems.
• Physical Protection: One significant disadvantage of hardware wallets is the chance of destruction. However, Trezor’s products easily pass the bridge with their durable stainless steel and plastic shell and easy restoration.
• Operating system compatibility: It works well with Windows, Linux, Mac, Chrome OS, and Ledger Nano S compatible.
• Dimensions & Weight: 98mm x 18mm x 9mm; 16.2g
• Microcontrollers & Connector: USB Type Micro-B
• Chips: ST31H320 (secure) and STM32F02

Products

The Trezor Model T is more pricey than the Trezor One. However, with a higher price label comes advanced features. If you’re an enthusiastic crypto user looking for a professional device with the best features, the Trezor Model T is an excellent option.

Ledger

Introduction

Ledger is another renowned French company that was established in 2014. Ledger began with the Ledger Nano S, which evolved into one of the best bitcoin wallets on the market. Although updated wallets have been released, the Ledger Nano S remains among the most powerful and ranked wallets globally. While the Ledger Nano S was built for cryptocurrency holders, the Ledger Nano X was also meant for active traders. One of the reasons for this could be that the Ledger Nano X includes mobile functionality, a larger screen, Bluetooth connection (end-to-end encrypted), higher battery life, and so on.

Features

• Supported Coins: Depending on the product chosen, it can support about 1000 cryptocurrencies.
• Digital Security Protection: With CC EAL5+ certification, Ledger devices have won users’ confidence and a reputation for security. The Ledger Nano S will protect your crypto certificates even if your computer is hacked.
• Physical Protection: The device itself has a convenient and user-friendly interface. On top of the device, there is a screen and two navigation buttons. They all operate together to enable you to access the device’s menu, enter a pin code, select apps, and enter recovery phrases. Although entering PINs and seed phrases requires two presses, Ledger OS assists you through the configuration of your device. You must follow the messages on the screen and in Ledger Live (the desktop client for Ledger devices).
• Operating system compatibility: It works well with Windows, Linux, Mac, Chrome OS, and Ledger Nano S compatible.
• Dimensions & Weight: 98mm x 18mm x 9mm; 16.2g
• Microcontrollers & Connector: USB Type Micro-B
• Chips: ST31H320 (secure) and STM32F42

Products

Conclusion

Compared to physical wallets, hardware wallets feature “cold storage” that is disconnected without the need for internet access. As the name implies, they are physical devices that only store and transact in cryptocurrency via a private key. When used correctly, hardware wallets may do wonders, and numerous top-tier wallets are built for a certain demographic of crypto consumers. The above walkthrough of the top safest hardware wallet brands, along with their distinctive features and products, will assist you in making an informed decision.

The post What Is The Most Secure Crypto Hardware Wallet? appeared first on Along the Boards.

Or will cryptocurrency become the number one trend that popped up in the 2010’s?

It’s no secret that Bitcoin made waves in the late 2010’s, creating a boom in crypto-trading, crypto-mining, and vice versa. The aforementioned boom was so widespread, in fact, that NVIDIA and AMD found themselves in a GPU shortage, keeping many consumers from upgrading their computers.

The “crypto-craze” has died down since then, but many still participate in the crypto-trading scene. However, not many of these people realize the security threat crypto poses.

That’s not to say you shouldn’t participate in crypto-trading—if you have the funds, do it! But there are risks involved besides losing your money due to poor trading etiquette. Let’s go over a few of these risks really quick.

3 Security Risks Haunting Cryptocurrencies Today

1. Crypto-Wallets that Don’t Work or Don’t Protect A User’s Cryptocurrency

Storing cryptocurrency is a concept that evades the understanding of many. You can’t simply send ten Bitcoin to your bank account. No, cryptocurrency was designed to be 100% anonymous; no trail should be left when buying, selling, or trading cryptocurrency.

To solve the problem of storage, a few creators designed “crypto-wallets”, software that allows the storing and use of cryptocurrencies. You may occasionally see crypto-wallets with physical security as well, such as a USB drive, but these are rarer than software-based wallets.

Crypto-wallets are necessary for anyone looking to get involved with crypto-trading—there is no other way to store cryptocurrency.

Unfortunately, similar to physical wallets, not all crypto-wallets are secure. Take “brain wallets”, for example. Studies show that brain wallets, which employ cryptography practices to secure wallets, run risk of being hacked easily.

2. Crypto-Fraud Practices that Scams Users Out of Their Money

Cybercriminals plague the Internet. No matter where you go, what website you visit, or what application you download, hackers will find a way to work their way onto your device(s) and ruin your day. It seems inevitable!

The cryptocurrency world is no different. Cybercriminals lie in wait, waiting for someone to mess up and fall into their scams. Some cybercriminals send out phishing emails that ask for a user’s crypto-wallet information so that said criminal can gain access.

Other cybercriminals run Ponzi scheme websites that scam people out of their cryptocurrency.

Point is, there is no shortage of ways cybercriminals can trick you into giving them your assets. The Wall Street Journal reported that cybercriminals have managed to, as of 2023, steal $4 billion from investors.

3. Trading Platforms Getting Hacked

Similar to how cryptocurrency requires specialized storage tools (crypto-wallets) in order for users to keep and track their Bitcoin, trading and exchanging crypto requires specialized trading platforms. These platforms are designed from the ground-up to house a sort-of “stock market”, where users can trade, exchange, sell, or buy cryptocurrency.

However, many of these trading platforms fail at delivering a secure experience for their users. According to ICOrating.com and Bitcoin.com, many trading platforms don’t enforce proper security practices. For example, the ICOrating study shows that 41% of exchanges (platforms) allow passwords with fewer than 8 symbols. 37% of them don’t even require numbers in the password!

Suffice it to say, a majority of these platforms put their users at risk, and it’s only inevitable that some of them get hacked or taken down—something else that will affect users.

5 Ways to Keep Your Cryptocurrency Out of Criminal Hands

To reiterate an earlier point: this article is not meant to deter you from participating in cryptocurrency trading, but to educate you about the unknown risks that plague the crypto industry.

And if you still find yourself itching to trade your Bitcoin, you’ll need to know how to protect yourself against these risks. Fortunately, there are a few ways to do so, five of them right below this!

1. Anonymize your Presence

While the creators of Bitcoin had anonymity in mind when designing it, it doesn’t mean that your presence is always anonymized. There are a few ways to anonymize your presence and activity while dealing with cryptocurrency, however.

For example, you could use a proxy or a VPN such as ExpressVPN to hide your activity from third-parties, including your ISP and government. These work well and are recommended for most transactions.

2. Use a Multi-Signature Address

Two-factor authentication allows users to secure their accounts even more, requiring a verification code to login, the code coming from either email or text. The same logic works for certain cryptocurrency addresses, an identifier for someone’s payment or wallet.

These are called multi-signature addresses, and require confirmations from multiple users before a transaction can be made. This helps users by ensuring a cybercriminal can’t simply go on a spending spree with someone’s Bitcoin.

3. Avoid Phishing Scams

Phishing scams litter the Internet, filling up the spam boxes of thousands of emails. Unfortunately, these scams work, and many people find themselves victim to identity theft, financial fraud, and various other crimes.

The same can be said for cryptocurrency investors. Phishing scams often target these investors, and you are no exception. Learning how to identify and avoid these phishing scams will improve your security tenfold.

4. Stick with Reputable Trading Platforms

While many trading platforms get created throughout the years, only a few will stick around. It’s in your best interest to stick with reputable trading platforms, platforms that take your security seriously. Unfortunately, there’s not a good way to gauge this, but sticking with established, commonly-used platforms is a start.

5. Keep Your Wallet Information Safe

Lastly, you should always keep your crypto-wallet information out of the way of anyone that’s not you; if someone were to get their hands on your wallet information, they could wreak havoc and ruin you financially.

It’s best to write down the information and store it somewhere that it can’t get lost or stolen (like a safe).

The post Current State of Security of Cryptocurrencies (And the Lack of it) appeared first on Along the Boards.

Despite the growing rate of adoption, cryptocurrencies haven’t enjoyed the widespread acceptance by the mainstream that was touted by many a few years ago. As Bitcoin’s value skyrocketed from around $900 to almost $20,000 in 2017, newspapers, the internet and TV were all filled with commentators speculating about its future, and the future of cryptocurrencies and blockchain in general.

Some outlets predicted spectacularly high values reaching as high as $100,000 per Bitcoin, while others focused on the fact that we would all soon be replacing our fiat currencies with digital tokens.

However, most of these predictions turned out to be accurate. In fact, early 2018 saw Bitcoin and other cryptocurrencies tank in value, dropping by around a half in just a month, and falling from nearly $20,000 to just over $3,000 by the end of the year.

Early adopters, particularly those in the technology sector, even began receiving their salaries in Bitcoin. Even today, news reports continue to emerge where companies announce they’re beginning to offer to pay staff in Bitcoin, Ethereum, or Litecoin. One of these was CoinCorner, a crypto exchange firm based in the Isle of Man, which started paying all of its staff in digital tokens in August 2019.

But the reason that this makes the news is that it still isn’t the norm, and the rate of adoption is much slower than many of these pundits predicted.

Cryptocurrency Acceptance

Many consumers are unsure about digital currencies and prefer to stick to what they know and have used for their entire lives. This position is strengthened by the fact that numerous exchange failures and thefts have seen people losing thousands of dollars of Bitcoins and other cryptocurrencies.

The volatility can also put some people off as their risk-averse attitude to investing makes it difficult to justify speculating on the price.

With that said, we’re seeing a similar meteoric rise in the value of Bitcoin in late 2023 as investors look for ways to protect their assets from low interest rates and declines in the value of some stocks.

At the same time, there is a growing number of businesses that are looking to accept cryptocurrencies. This includes small independent businesses and big brands, including Starbucks, Microsoft, and Whole Foods.

Although you can now walk into some branches of Starbucks and buy a flat white with Bitcoin, you still can’t do it at many other franchises. You also can’t spend cryptocurrencies in the vast majority of retail stores. Moreover, some popular sites that used to accept crypto have even begun to reverse that decision.

For example, the travel site Expedia used to allow bookings to be made through its site using Bitcoin. However, this feature was quietly removed a few years ago.

Part of the reluctance among businesses to begin accepting digital currencies is simply because there isn’t enough demand for them. And consumers that would like to pay with their Ethereum will still hand over cash of a credit card if there are no other options.

Cryptocurrencies in iGaming

The iGaming industry, which consists of online casinos, sports betting, poker, bingo and lotteries has also been slow to adopt cryptocurrencies. For the most part, for the same reasons as many other service providers.

Cryptocurrencies are much more volatile than fiat currencies which creates bigger risks. If a business holds a reserve of Bitcoin and its value decreases, then it stands to lose a significant amount of money. On the other hand, if Bitcoin appreciates, the business could profit.

For some people, this may sound like a reasonable bet to make, but many businesses prefer certainty. The same is true for traditional currency exchange, with many larger companies using the futures market to get certainty.

Most iGaming brands choose not to be exposed to this volatility, and opt to only accept fiat currencies like dollars, euros and pounds.

Additional regulation in the iGaming sector can also make it more difficult. For example, companies are required to undertake “Know Your Customer” (KYC) checks, which are designed to prevent money laundering and other nefarious activities. It can be more difficult to do this when a customer makes a deposit using a cryptocurrency as it can be difficult to trace the source of the funds.

Third Parties

There are some ways that cryptocurrency enthusiasts can still use Bitcoin and other tokens whenever a casino or online poker room accepts debit cards from Visa and Mastercard. Since the majority of sites, even those that accept payments for play chips like PokerStars accept these methods, players can use cards issued by exchanges like Coinbase and Cryptopay to charge their accounts.

Payment wallets like Neteller and Skrill also allow users to deposit cryptocurrencies into their account and then make deposits to casinos and bookmakers in a fiat currency.

Some iGaming brands have been accepting cryptocurrencies via third-party services like Coinbase. This works by converting the dollar, euro or pound amount into Bitcoin at the live exchange rate, deducting this from the customer’s account, and then transferring the fiat currency to the iGaming operator.

This means they’re not exposed to the volatility while still letting their customers pay in the way they want.

The Future

While these third party operators may offer a lower risk way for casinos and sportsbook operators to accept cryptocurrencies, there is clear evidence of the reluctance in the industry to fully embrace digital money.

There are now some casinos that accept only cryptocurrencies, but this is uncommon, and most are not licensed by a regulatory body.

Given this slow rate of adoption among consumers, the third-party solutions, and the lack of appetite for risk, it seems unlikely that the iGaming industry will be embracing cryptocurrencies any time soon.

The post Will the iGaming Industry Embrace Cryptocurrencies – 2023 Review appeared first on Along the Boards.

Indeed, Bitcoin and other altcoins truly had a turbulent past. The value of each digital currency varies constantly. Despite that, some happenings ruined the credibility of this business field. For instance, in 2014, hackers stole nearly 850 thousand Bitcoins. The victim of this cybercrime was Mt. Gox exchange. Still, it is important to know that things have improved since then a lot. This type of mistake cost the entire industry a lot, especially when we talk about reputation.

Well, we are here to solve these two problems. Coronavirus pandemic negatively influences different economic fields. For instance, tourism in all countries suffered the most. The losses were especially visible in some attractive destinations such as Italy and Spain. The influence we mentioned did not skip the digital currency world. Because of that, many people would like to know if trading in cryptocurrency is a good idea. More detailed answers you can find at usethebitcoin.com. The post we attached gives all the answers that beginners require. We recommend you check it and hear some tips from the experts.

In this article, we are going to talk about security. The advanced technology brought many benefits and concerns at the same time. People want to be sure that all the investments they make are safe.

Let’s find out together how to secure your cryptocurrency in 2023. You will get surprised how simple the entire process is. However, you must have the right approach. Thinking such as “it won’t happen to me” or “why would someone hack me” is bad. Each investor in this world has equal chances to become a victim of a cybercrime. We do not want to say you should be afraid of that. Our message for investors is to be cautious at every moment.

Don’t Keep All Digital Assets in One Place

Let’s imagine that you went on a vacation overseas. Will you keep all the money you have in your wallet? In that case, why would you keep all your digital assets in one place?

You need to find a way to manage and store your cryptocurrency in the right way. It doesn’t necessarily mean that something bad is going to happen. However, what if an exchange is lost for any reason? This means that all the investments you made will “disappear”. You do not have to expose yourself to that type of risk. You simply spread out your currencies in different places and minimize the risk of any loss.

Be Careful with the Passwords

This piece of advice is not only applicable to crypto investors. An average person usually makes this type of mistake. You probably have at least one social media account, an email, etc. Well, all the accounts you have online should have different passwords. Some people use the same passwords for their social media and crypto accounts. This is a basic mistake that you should improve as soon as possible.

A much better choice would be to use the so-called two-factor authentication method. In other words, you must use more than one private key when authorizing transactions. Despite that, it is equally important to back up your cryptocurrency private keys. The same tip counts when we talk about “basic” passwords. You should change it at least once in three weeks. If you work with a lot of transactions, then repeat the process more often.

Bonus Tip: Which Password to Use?

It might seem strange, but some people simply do not know how to create a strong password. Each time you do backups, be sure that you do that with a strong set of keys and passwords. “Strong password” means that you use the one that can’t be cracked or remembered easily. More precisely, you should create a combination of symbols, numbers, and uppercase and lowercase letters.

Still, the length of your password should also be strong. You can use different password generators that will help you do that. In most cases, these tools generate a 64-character password. Let us explain why this is important.

As you know, cybercriminals use different methods to hack people’s accounts. They use different advanced password crackers to achieve their goal. The tools they use are utilizing dictionaries and lists of common passwords. In other words, the longer your password is, the hacker will have more problems to hack it.

Be Careful with Networks

This is a piece of advice that you need to remember for each transaction that you make online. It doesn’t matter if you trade with cryptocurrencies or make a simple online purchase. Do not ever do that while you are connected on a public Wi-Fi hot spot. Whichever transaction that you make, make them only on reliable networks. In other words, do crypto transactions only on a private computer while you are at home.

Hackers are aware of the importance of public Wi-Fi for people. It happens often that we have to connect to the Internet while we are on the streets. Because of that, they often add different viruses to those networks and people easily add them to their device. If you are a cryptocurrency investor, the hacker will truly get a huge reward from you.

Don’t Brag

We know that sharing everything we do on social media is popular. Yet, this could be a mistake that would cost you a lot. Cybercriminals do not always pick their victims randomly. In most cases, they target their potential victims by researching social media. Do not expose too much information about your crypto investments there. You are becoming an attractive person for every cybercriminal. Besides, why should anyone know who you are and what you are doing? This should be a secret that only a small group of people around you knows.

The post How to Secure Your Cryptocurrency in 2023 appeared first on Along the Boards.