2022-11-17
Hardware wallet manufacturing companies such as Trezor and Ledger
reported increase in sales. After FTX went bust, people lost trust in centralized
exchanges.
Hardware wallets make other people can’t do anything with your
money. They ensure that you money will be kept securely.
Just two day after FTX filed for bankruptcy, Trezor’s revenue from
sales increase by 300%. Trezor’s weekly sales tripled as people rush to buy more
hardware wallets.
Where can you store your cryotoassets?
1. Cryptocurrency exchanges e.g., Coinbase, Binance
2. Software Wallet e.g., MetaMask, Trust Wallet
3. Hardware Wallet e.g., Trazor, Ledger
Hardware wallet is safe and secure but you need to keep your recovery
seed which is a fix sequence order of words. In case recovery seed is lost, you
will be unable to get access to your cryptoassets. Thus, you need to prepare for
backup. In conclusion, hardware wallet is a safe and secure way to store your
cryptocurrencies.
