What is Cold Wallet / Cold Storage?
Cold Wallet or Cold storage is a very secure method of storing crypto COMPLETELY offline. Also known as hardware wallets they often resemble a USB drive. These devices can help protect your crypto from theft or hacker.in another word, is the smartest way for investor to secure, buy, exchange, and grow their crypto portfolio. TRUSTED by 4 million customers and recommended by FORBES, TechCrunch, and Bloomberg
How Cold Wallet Works
how a Cold wallet works? cold wallet or Ledger works like usb key, meaning investor will have to plug it in trough a computer or cellphone by using usb cable in order to set it up.
After plugging it in, the cryptocurrency investor should see the ledger turn on
after turning it one, the ledger will provide 24 recovery phrases to Cryptocurrency investor, what the 24-phrase means? the 24 phrase it simply means password for investor to access the asset, no matter what happen to the ledger
What is Ledger live?
Ledger live, is application or interface that facilitate [ allowing] cryptocurrency investor to manage, swape or buy Cryptocurrency safely but it will be open only when investor connect their cold wallet.
What are the advantage of using Ledger or Cold Wallet?
The main goal of using ledger or cold wallet/cold storage, it very difficult for a hacker or scammer to access cryptocurrency investor funds, asset
the ledger or cold wallet stay offline and can’t not be traceable.
What is the disadvantage of using Ledger or Cold Wallet?
The main disadvantage of using Cold wallet or ledger, number one it can be damage if cryptocurrency don’t take care of it, meaning not keeping it to a safe place.
second disadvantage of using cold wallet or ledger is, if Cryptocurrency investor loses the 24 key phrase or 24 recovery phases, all investment gone, there is no way to recover the asset in the cold wallet when investor lose the 24-recovery phrase. even ledger don’t have data for it that been said, don’t waste your time by trying to get in touch with them, they not going to fix it,
ledger or cold wallet when it comes to pricing, it very expensive
also, cryptocurrency wallet is very difficult for a new investor to understand how to set it up or using it, but if you trying to really makes money with crypto, always Rember these, invest what you can afford to lose,
last but not least,
Remember this phrase: NOT YOUR KEYS, NOT YOUR CYPTO!
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