Why an offline key is the only key?
Gwyneth Paltrow : “Crypto is digital, so why the hell do I need a new physical device to store it? I’m confused.”
As we’ve learned in the movie Die Hard, stealing cash or gold is really difficult.
But stealing cryptocurrency can be done on a massive scale very easily and the only tool you need is… a laptop.
Our laptops and cell phones are amazingly useful inventions and we are glued to them for the majority of our waking life, but the same thing that makes them great for Web 2.0 applications like email, Web, and games is what makes them TERRIBLE at protecting value.
These Web 2-era devices are built to run ANYTHING,… and that actually includes MALWARE from an attacker looking to get access to your private keys.
This is why I would NEVER store my cryptocurrency with an exchange or in a software-only wallet. To be secure, you need a hardware wallet, and for my Critical Digital Assets, I use a Ledger device to store my private keys, allow me to securely sign transactions, and access the new world of Defi, NFTs and more.
Ledger is my secure gateway to the entire world of Digital Assets.
But why the Ledger Nano? What’s it got that my phone doesn’t?
That’s the next video!