Crypto’s single biggest security concern is the propensity for the exchanges to get hacked and users’ currency holding to be syphoned off. My advice is to only keep funds needed for trading in an exchange and ‘hodl’ your main investments offline. Ledger have made that easier with this announcement…:
Cryptocurrency took a big step forward Sunday, as wallet manufacturer Ledger announced the launch of the Nano X with Bluetooth support for connecting to a smartphone. The device, unveiled at the Consumer Electronics Show in Las Vegas, works with a newly-announced Ledger Live app to manage transactions and on-device apps.
“By unveiling the Nano X, equipped with Bluetooth, Ledger aims to empower its users with immediate secure access to any crypto in any situation,” Eric Larchevêque, CEO of Ledger, tells Inverse.
The announcement has the potential to bring secure crypto handling to a broader audience, enabling new use cases without sacrificing safety. Hardware wallets store a user’s private keys offline, protecting them against hacks that could hit online wallets and exchanges. Ledger has established itself as one of the most trusted names in the space, with the company’s Nano S having sold over 1.5 million units.
The problem is, the market is changing. The Nano S requires users to plug the device into a computer via USB, which is fine for long-term investment but less convenient for day-to-day usage. As Bitcoin’s price has plummeted to below $4,000 per coin, far below its December 2017 peak of around $20,000, this sort of buying and holding has become less attractive.