Just like how we store cash in a wallet, a crypto trader needs a wallet to store his assets.
A crypto wallet is crucial in keeping cryptocurrencies safe. Luckily, as the Black Friday sale approaches, Amazon is selling crypto wallets from top manufacturers at 50% off.
First, what is a crypto wallet? Cryptocurrency is a digital asset, so it doesn’t need to be stored physically, the way cash is stored in a leather or fabric wallet.
However, cryptocurrencies are protected by a series of cryptographic numbers and letters. These cryptographic keys are stored in a crypto wallet. A crypto wallet stores public and private keys that represent asset ownership.
A public key is used to receive cryptocurrency, while the private key is used to access digital assets. Both keys, especially the private key, must be stored safely. Anyone who holds the private key can access, transfer, or even sell your crypto assets.
Hardware wallets are one of the most secure solutions for storing public and private keys. Approaching Black Friday, Ledger's Nano X hardware wallet is being sold at a 50% discount on Amazon.
The Trezor Safe 3 hardware wallet is also sold at a huge discount. At 40% off, it now costs $47.40.
Having a hardware wallet is indeed safer because it stores public and private keys offline. So, even if it is connected to a computer, hackers cannot hack into the wallet and access your assets.
Choosing a secure and trusted wallet is crucial for investors and traders. Having a digital wallet makes it easier for investors to swap, stake, and even become providers in liquidity pools.
Investing in the right crypto wallet is no less important than investing in cryptocurrency itself.
Want to know more about the uses of crypto wallets? Visit DRX Token’s blog to read various educational articles about digital assets.
