Hardware Wallets- What you need to know…

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Hardware Wallets- What you need to know…

When it comes to securing your crypto assets, you need to know what your options are. There are several methods available, however we’re going to talk about hardware devices today. There are 2 major brands recommended here. Trezor and Ledger

What is a hardware device?

A hardware device is a device that generates seed words or a seed phrase (same thing). Your private keys are generated from the seed phrase and they also generate your public address(es). This is one of the safest ways to generate new seed words to create new accounts. The seed words are generated through the device and not on the computer screen. This means that you have eliminated the risk of having your seed words shown on a screen or never having typed them into a keyboard. This is important because your seed words or seed phrase are your keys to unlock access to the block chain which is where your crypto is. That’s right. Your crypto coins/tokens never leave the block chain. The seed words you generate give you access to the block chain to view your crypto.

After you have created seed words, written them down and stored them in a safe place, you are ready to use your new wallet. The public address is the address that you will use to send funds to or send funds out of.

When it comes to PulseChain, Metamask is the recommended Chrome extension to use as a front end or a UI for the hardware device. If you recovered a seed from a previous Metamask and that instance of Metamask is on your computer, you would delete that instance and download a completely new instance of Metamask to use as the UI. This is because you cannot connect the device to metamask with the same seed words.

If you have already generated a set of seed words online from a non custodial wallet such as Metamask, there is an option to recover a set of seed words into a hardware device during setup. Once you complete this process, your assets will be accessed through the hardware device.

Nothing in this article or website is financial or taxation advice. For advice on these matters, please contact a registered professional adviser.

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