The first rule of cryptocurrency is anything can happen. The value of bitcoin or any other cryptocurrencies can fluctuate dramatically at the drop of a hat. Sometimes there’s an explanation and big swings in the crypto market are tied to news or some other sort of development. Other times, however, there’s really no rhyme or reason at all. Of course, the second rule of cryptocurrency is at least as important as the first rule. As a matter of fact, it might be even more important: Nothing is safe if you store it online.
It doesn’t matter whether you hold your crypto at a top exchange like Coinbase and Binance or you’ve packed away your coins in a cloud-based wallet. In either case, you are exposed. Online crypto wallets are hacked all the time, and every serious crypto trader knows it. That’s why they all have “cold storage” solutions using crypto hardware wallets like the Ledger Nano S. Today you can pick one up with a rare discount at Amazon!
Everyone should do their research and learn the basics before you dump all of your savings into bitcoin and dogecoin. If you did your homework, you definitely came across countless recommendations about how to store your precious digital coins. The simple fact of the matter is your crypto is not your crypto unless you hold it. And if it’s stored at an online exchange, you’re not holding it. As great as the security is at some exchanges, people get hacked all the time. That’s where a device like the Ledger Nano S comes into play. Rather than holding your bitcoin and other coins or tokens at an exchange or in a cloud-based software wallet, hardware wallets are completely offline and therefore unable to be remotely hacked. And while some hardware wallets can cost hundreds or even thousands of dollars, the Nano S retails for just $59.
Ledger’s Nano S sometimes goes on sale around the holidays, but you won’t have to wait for a holiday to save. Amazon has a great deal right now that slashes 15% off the price of a brand new Nano S! We doubt this sale will last very long though, so hurry up and grab one on sale while you still can.
Here are the key details from Amazon’s product page:
- Cryptocurrency Hardware Wallet: allows you to send and receive crypto assets, securely and conveniently. Your Ledger hardware wallet can easily be connected to a computer and managed through the Ledger Live companion app. The Ledger Nano S keeps your private keys protected
- Secure: Your confidential data is never exposed: it is stored inside a strongly isolated Secure Chip and locked by an 8 digit PIN code
- Multicurrency: enables you to manage multiple assets on the same device, and supports over 30 cryptocurrencies and all ERC20 tokens
- Easy to use: designed around an intuitive user experience. check and confirm transactions on the built-in display and confirm with using the two physical buttons (anti-malware second-factor verification)
- Backup & restore: Your accounts are backed up on a recovery sheet, and can easily be restored on any Ledger device or compatible wallet (BIP39/BIP44)
