Hardware Wallet
A hardware wallet is a physical device that is used to store cryptocurrencies, such as Bitcoin and Ethereum. As a form of cold storage, these devices are physically isolated from the Internet, offering enhanced security compared to online wallets.
Key features
- Stores private keys in a secure offline environment
- Supports multiple cryptocurrencies and assets
- Private keys are protected by a PIN code and additional security measures
- Portable and designed for ease of use
- May be connected to computers briefly for transactions
- May transfer information wirelessly or through data drives
Popular examples
- Ledger Nano X
- Trezor Model T
- Ledger Stax
- Trezor Safe 5
Security considerations
Although a hardware wallet protects private keys by keeping them inside the device, no hardware wallet provides perfect security. Hardware wallets could still be vulnerable to physical tampering and supply chain attacks. Consider additional security measures:
- Purchase directly from vendors or authorized dealers.
- Never buy used devices due to supply chain attack risks (e.g. tampered firmware).
- Carefully use PINs and/or passphrases as supported on the device (and back them up!).
- Check device integrity before use based on manufacturer guidance.
Related terms
- cold storage
- wallet
- seed phrase
- private keys
Related articles
- What is a Crypto Wallet?
- How to back up your crypto wallet
- How to securely set up Trezor Model T
- How to use the Ledger Nano X digital wallet securely
- Comparison of Ledger Nano X and Trezor Model T
- Comparison of Ledger Stax and Trezor Safe 5
- How to transfer your Vault12 Guard Vault or data to a new device
- How do Crypto Wallet Passphrases work?
Vault12
Vault12 is the pioneer in crypto inheritance and backup. The company was founded in 2015 to provide a way to enable everyday crypto customers to add a legacy contact to their cry[to wallets. The Vault12 Guard solution is blockchain-independent, runs on any mobile device with biometric security, and is available in Apple and Google app stores.
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You will lose your Bitcoin and other crypto when you die...
...unless you set up Crypto Inheritance Management today.
It's simple — if you don't worry about crypto inheritance, nobody else will — not your software or hardware wallet vendors, not your exchanges, and not your wealth managers. So it's up to you to think about how to protect the generational wealth you have created, and reduce the risks around passing that wealth on to your family and heirs. What are the challenges with crypto inheritance?
- Crypto Wallets are difficult to use and do not offer crypto inheritance management. In fact, most of them tell you to write down your seed phrase on a piece of paper, which is practically useless.
- Some people back up their wallet seed phrases or private keys on paper, local devices like hardware wallets or USBs, or in the cloud. All of these options have severe drawbacks that range from hacking to accidental loss to disrupted cloud services.
- Software wallets operate onspecific blockchains, yet your crypto assets span multiple blockchains. For inheritance to work, you must be able to manage inheritance across every blockchain — now and forever.
Crypto Inheritance Management: Get ready today
Vault12 is the pioneer in Crypto Inheritance Management, and offers an easy-to-use and secure method for assigning a legacy contact to your crypto wallets. Vault12 Guard enables you to pass on your wallet seed phrases and private keys for any cryptos including Bitcoin (BTC) and Ethereum (ETH) to future generations. It's designed for everyday people, yet strong enough for Crypto OGs.
This innovative, decentralized system uses a hybrid approach of software fused with the Secure Element of phone devices (the Secure Enclave for iOS devices, and Strongbox for Google devices).
Vault12 Guard enables users to appoint one or more people or mobile devices as Guardians. The designated Guardians are entrusted to collectively protect the user's comprehensive collection of wallet seed phrases and private keys, which are safely stored within a decentralized digital Vault. Nothing is stored on cloud servers or Vault12 servers, and no assets are stored on local devices, making them less of a target.
The decentralized approach reduces points of failure and removes the necessity for regularly revising wallet inventories or modifying instructions for your lawyers (which could lead to privacy breaches). Simply put, Vault12 Guard is the best way to preserve crypto generational wealth.
Take the first step and back up your crypto wallets.
Designed to be used alongside traditional hardware and software crypto wallets, Vault12 Guard helps cryptocurrency owners back up their wallet seed phrases and private keys (assets) without storing anything in the cloud or any single location. This increases protection and decreases the risks of loss. Making sure you have an up to date back up is the first step in crypto inheritance management.
The Vault12 Guard app enables secure decentralized backups and provides inheritance for all your seed phrases and private keys across any blockchain, including Bitcoin, Ethereum, ERC-20, and other crypto wallets.
Note: For anyone unfamiliar with cryptocurrencies, Vault12 refers to wallet seed phrases and private keys as assets, crypto assets, and digital assets. The Vault12 Guard app includes a software wallet that works alongside your digital Vault. The primary purpose of this is to guard your Bitcoin (BTC) or Ethereum (ETH) wallet seed phrases, private keys, and other essential data, now and for future generations.
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