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What is the Best Hardware Wallet for Altcoins ?
What is the Best Hardware Wallet for Altcoins ?
The DigitalBank (DB) : the Fort Knox of Bitcoin Storage . DigitalBank is a totally secured Vault for the Bitcoin and Crypto Investors .
Easy and Simple Interface for operating your account : zero technical skills needed .The DigitalBank is in your own hands , nothing stored by third parties.
The DigitalBank Crypto Vault is an ultra-secure software and hardware wallet that supports over 500 cryptocurrencies. Its breakthrough is in the signing of transactions without storing any private keys – making it , the most secured crypto wallet available and bringing true security to crypto finance.
DB is The First and Only Decentralized Anonymous E-Banking System in the World .
Anyone that has serious intentions of holding Bitcoin over the long-term needs to own a high-quality hardware wallet. It might sound silly, but security of funds is something that many Bitcoin investors tend to overlook. Instead, they stick by lightweight and potentially flawed software wallets, of which some can present serious problems when it comes to fund protection.
While some are happy storing their coins in software or desktop wallets, some want to use more secure wallets. And if you are a long-term investor, this is not a bad idea. However for long-term ‘HODL’ you should use a paper wallet or a Hardware wallet.
I personally endorse using Hardware wallet as it offers great security as well as you can even use it for your day to day transactions.
Hardware wallets promise enhanced security against software wallets in the case of theft or scams. Moreover, your coins are safe even if your computer is hacked or someone stole your Hardware wallet. If you lose your hardware wallet, you can always restore all your coins on a new wallet.
Are you tired of losing your Bitcoins on hacked exchanges? Are your Bitcoins stolen because you are trash at cyber security? Don’t you have the patience to install Bitcoin Core Wallet on your PC? Are you one of those pieces of shit that uses not enough fee and starts to complain that your transaction didn’t confirm yet? Are you ready to finally play with the big boys?
Then fear not ! Bitcoin Hardware Wallets are something for you.
First lets look at what a Bitcoin wallet actually is. A Bitcoin wallet is an application that serves for you to have control over your coins, keys, addresses and be able to create & sign transactions.
Private and Public keys
A wallet contains a collection of key pairs (public key & private key). Private key is usually picked by using a good pseudo random number generator. From the private key, we use elliptic curve multiplication to generate a public key. From the public key, a one-way cryptographic hash function is used to generate an address.
A Bitcoin wallet can be copied. Whoever makes a copy of the wallet can spend the funds. An attacker could steal a Bitcoin wallet by making a copy of your wallet. Anyone with the private keys is able to spend the funds.
You may have heard about it or know what it is. HD wallet stands for (No not High Definition wallet) Hierarchical Deterministic wallets defined by BIP-32/BIP-44). BIP stands for Bitcoin Improvement Protocol.
The best practice is to generate a new key for every transaction you make. This is because of privacy reasons. Someone shouldn’t be able to know how much bitcoin you own. It it also to protect the person who sent you a transaction. Don’t worry, your wallet does this for you by combining funds from different keys.
But what happens normally without HD wallets is, you make a private key with every transaction and it’s required to backup your key every single time!
What HD wallets allow to do is to take any private key and create a child private key out of it. Any child private key can also be used as a parent private key. So to simply explain it, you can create child keys but also grand child keys etc.
The benefit of this is that you create a Hierarchical structure. If you for example run a company, you can create a child private key for your employees who can create a public key to receive transactions. But you have control over all their private keys.