Wallets enable safer storage and management of crypto assets.
They hold people’s private keys, which are necessary to unlock the address where crypto assets are stored on the blockchain.
Private keys are used to sign transactions and verify that the owner is moving the cryptocurrencies.
He had $10.55 worth of crypto on the centralized exchange Coinbase. This is considered dangerous because I do not own the private keys and could be vulnerable to loss if the exchange is hacked or shut down.
The safest option is to self-custody private keys using a hardware wallet. Store my keys offline, mitigating the risks of online attacks. I spent $101 on “the original hardware wallet”, the Trezor Model One.
The wallet came in delicate packaging that could easily slip through a mailbox.
I planned to place an order on Amazon, but after reading reviews where users complained about wallet tampering, I decided to use Trezor’s official site and wait a little longer for delivery.
I didn’t need to worry about long delivery times. I placed the order on a Thursday afternoon and received the package on Monday afternoon. The box has seals to ensure that the wallet is not tampered with during delivery.
Inside the package was the hard wallet, a USB cable, and a lanyard.
There is also a getting started guide and 2 recovery seed cards.
I even got some cute stickers!
Instructions to get started are minimal. Instead, visit trezor.io/start to start the setup process.
I could choose between downloading the desktop app and using the web browser. Since I would only be using the wallet for this story, I opted for the web browser. The instructions said the process would take about 5 minutes.
I especially appreciated the options to change the wallet home screen, which helped make my wallet feel more personalized.
This article is intended to provide general information designed to educate a broad segment of the public; does not provide personalized investment, legal or other business and professional advice. Before taking any action, you should always consult your own financial, legal, tax, investment or other professional for advice on matters affecting you and/or your business.