In recent years, there have been massive wallet hacks and criminal activities associated with cryptocurrencies. The various blockchain projects, especially those that are financially inclined, have wreaked havoc on investor funds as most of them used centralized wallets which were out of their control.
In the year 2022, there is a report of wallet hacks to the tune of $1.9Billion. This is due to investors’ funds which were stored in the exchange wallets and sometimes projects wallet like DeFi platforms where users cannot control the flow of transactions.
This does not mean that the use of crypto wallets is a bad idea, however it is expected that users need to improve their knowledge of what crypto hardware wallets are and how best to select the wallets to use.
There are so many projects which have been destroyed mainly by the level of insecurity that was associated with the project and team members due to hacking and vulnerable bugs within the systems that were developed.
Several projects have been liquidated financially because of hackers draining their funds due to lack of security around the software that was developed. Some other projects are simply Ponzi schemes designed to fail eventually and steal the funds of members who join without proper education of how the project works.
What is a crypto hardware wallet?
A cryptocurrency wallet is a device which can be a physical medium, software or a service that stores the public and/or private keys for cryptocurrency transactions. The hardware wallet is basically in the form of a digital storage device where users can store their cryptocurrency offline from the prying eyes of crypto hackers and potential criminals.
Conversely, a Hardware Wallet, also called “Cold Wallet,” is a device used for increasing the security of crypto transactions on the user side. It’s usually a small, portable, and easy-to-carry piece of hardware, in most cases similar to a flash drive that would fit in the palm of a hand.
With this device, everyone can authenticate and confirm transactions without having to resort to their private key or any other sensitive code, as the process is solely managed by the device.
The keys, passwords, pin numbers and mnemonics, typical security strategies of the digital world, may be only required during the device’s initial setup.
Why do you need a hardware crypto wallet?
The world of crypto is facing a continuous developmental stride which has seen the birthing of criminal tendencies with an aim to steal from unsuspecting users or investors. These hackers create malicious programs which tend to attack the users’ devices and eventually steal from their wallets.
As most of these activities are done online, crypto security experts have suggested that large funds in crypto should be moved into cold wallet storage rather than leaving them on soft wallets which can be easily stolen.
Therefore, there is the need to educate users and potential investors to always minimize the risk of leaving crypto in the soft wallets, hence the need for a hardware wallet.
Why choose the Klever Hardware wallet (KleverSafe)
There are currently a few hardware wallets in the market, but the Klever team has been truly focused on developing a distinguished one. We have built the iron-clad, highly safeguarded, ultimate hardware wallet, where high speed and app integration are some of its main advantages.
While most hardware wallets in the market, including the most popular ones, take more than 10 seconds to process transactions and perform operations, Klever’s Hardware Wallet aims to provide a trailblazing less-than-1-second duration for most operations in the blockchain.
In the future, people will be able to benefit from their usual transactions more rapidly and securely.
With KleverSafe being fully integrated with the Klever mobile app, our Cold Wallet will distinguish itself even more from most of the famous ones.
Whereas those wallets usually include a very simplistic display which users need to operate to proceed with their transactions, the Klever Hardware Wallet will provide a friendly interface through our own mobile app, with the visuals our users are already used to.
The feeling can only be ecstatic when the user gets a hold of the new Klever hardware wallet (KleverSafe) in their custody.
The product is truly world class from the depth of the passion from the research and analysis team to the product design and implementation squad. Everything of the product is built to stand the test of time.
Having one of the KleverSafe devices is indeed a no brainer, it is indeed a Klever thing to do.
