DM’d me a great question today about a hardware wallet. Once you get really going in bitcoin, you’re going to want to get yourself a hardware wallet.
A hardware wallet is a small device that you will use to approve any sending of bitcoin from a wallet on your smart phone or computer.
It is a second layer of protection to keep you safe and make sure people that access your smartphone or computer can’t access your bitcoin.
You want to make sure that your hardware wallet has these features:
- It’s bitcoin only
- It’s open source
Both of these features have to do with safety and security.
Bitcoin only keeps the device much more simple and easier to protect.
The more alt coins a hardware wallet supports, the more code it has.
The more code it has the more room there is for errors and bugs.
Open source means that the software code is not private and everyone can look at it and see what it is.
That tens of thousands, maybe even millions, of people are looking at this code for bugs and errors and finding them and fixing them.
I would love to know Here in the community is using if they are using a bitcoin, only hardware wallet.
Please let us know in the comments.