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I've said it once, and I'll say it again. Cryptocurrencies are one of the most dangerous investments you can make—and not just because of the market's volatility, either. Hacking is a huge issue that makes it difficult to ensure that the Bitcoins you buy will be the Bitcoins you keep.
Where you store your digital currencies is just as important as what currencies you choose to invest in. You need a good Bitcoin wallet, even if you don't fully understand what a Bitcoin wallet is for. After all, you *do* need to store those currencies somewhere.
If you don't believe it, take a look at how many Bitcoin wallet scams have happened, or how many major hacks have shut down currency exchanges.
If you want to stay safe while you invest in cryptocurrencies, you need to get a Ledger wallet for your crypto. Here's why...
Wait—what's a Ledger wallet?
A Ledger wallet is a specialized hardware device that acts as a cryptocurrency wallet—and yes, it comes from a company called Ledger. These wallets look like tiny USB flash drives, and can be accessed via their apps or managing software.
Basically, it's a physical wallet for your cryptocurrencies that offers a lot of perks. Now that you know what it is, check out the top reasons why you need to grab a Ledger wallet for your crypto.
The Ledger Nano S is currently the most popular wallet that Ledger offers.
Getting a Ledger wallet for your crypto means it's harder to hack you.
All those Bitcoin wallet apps have one issue that makes them pretty bad: they're constantly online and therefore, much easier to hack into. One of the reasons you might want to get a Ledger wallet for your crypto is because it's safer than just uploading your account online.
After all, hackers can't hijack your online Bitcoin wallet if it's not online. Or at least, they can't do it easily—and that's why most people try to keep their coins on a hardware wallet if they choose to HODL.
It's not just for Bitcoins.
A lot of decent wallets only will cater to one or two different currencies. Getting a Ledger wallet for your crypto investments is a little bit different in that way. This hardware wallet allows you to store your crypto regardless of what you own.
Bitcoin, Ether, altcoins... all you need to do is make sure you have the right app to access them and you're good to go.
Setting up a Ledger wallet for your crypto is easy.
With a lot of hardware wallets, setup is painful. A lot of hardware wallets either will involve you having to program a wallet yourself, or do a lot of crazy installations in order to actually connect your wallet to major cryptocurrency exchanges.
Ledger took care of all of that by creating the apps that work with their hardware. Better still, the Ledger apps are easy enough for total novices to try. You can use the apps on iOS, Android, Windows, and yes, even Linux operating systems.
Even if hackers snag your wallet, the won't be able to do much.
Here's one reason why you should get a Ledger wallet for your crypto, rather than any other hardware wallet. With most other hardware wallets, including paper wallets, hackers will be able to open them up and take all your currencies.
Since Ledger wallets have people use PIN codes in order to access the currency, hackers won't be able to do much if they end up somehow getting their mitts on your wallet.
The hardware aspect doesn't take away from its functionality.
If you're thinking that getting a Ledger wallet for your crypto could be taking away from the whole "trading and spending" aspect of the cryptocurrency scene, think again. Hardware only enhances the trading aspect in many situations.
If you get the Ledger Blue, you can actually trade in real time. The touchscreen makes it easy to scroll through your cryptos, send and receive your currencies, and more.
It's a lot sturdier than a lot of external hard drives, too.
External hard drives aren't always very solidly-built. A lot of people who have used HDDs as "cold storage" have found themselves flat broke after their external drives decided to stop working. In some cases, corrupted data meant that people just had to wave goodbye to their Bitcoins.
Getting a Ledger wallet for your crypto means you get a better build than you would if you chose a "no name" HDD to store your coins.
Variety is the spice of life with Ledger wallets.
Aside from it not being just for Bitcoin, it's worth pointing out exactly how many different cryptocurrencies are supported by Ledger wallets. Bitcoin, Dogecoin, Dash, POSQ, Ripple, and a bunch of others you might not have even heard of are supported.
To make things easier, this awesome gear also has ample tutorials online discussing how to upload each one.
It's not exactly the typical thing thieves will pick up.
Let's say that someone is out to rob you, right? Chances are, they want to get the most expensive thing they can get. In the case of a typical robbery, that means they'll go for the Xbox or the iPhone if they're looking for tech.
But what about hackers, you ask?
Hackers who know you trade in crypto will typically try to search through your phone in order to find your crypto storage. They won't look at a nondescript thumb drive first—and in most cases, they wouldn't be able to actually physically take it, anyway.
The reviews are great.
If you can't tell, I'm pretty damned stoked about Ledger. To a point, I might even sound suspiciously stoked about it. It's okay, you don't have to trust me. I'm not saying that you absolutely, positively have to trust my judgement on why you need a Ledger wallet for your crypto goods.
Other peoples' reviews say volumes about the tech, too. A lot of the best cryptocurrency resources you can find on the net back this product too.