What Is A Ledger Wallet?
When we carry out cryptocurrency related transactions such as receiving and sending of funds, we need private keys to access wallets to perform these transactions. These private keys are usually saved online and this is very dangerous and can result to loss of tokens or coins through hacking.
Wallets such as hot wallets; online wallets are very vulnerable to attacks. Other wallets can be mobile wallets(android/ iPhone) and paper wallets which also store private keys. But there are also wallets called ledger wallets. The most well known wallets today are ledger Nano, Trezor and Keepkey.
Ledger wallets are portable devices which allow transactions functions only through Bluetooth and USB connectivity. They are almost impossible to hack. They also have two-factor authentication enabled password recovery phrase backup incase of loss of device. Ledger wallets also hold multiple of cryptocurrencies.
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