OVERVIEW HARDWARE WALLET SECURITY TIPS
A Hardware wallet is one of your safest bets for security. They are not free, but they can be well worth the cost. If you are unfamiliar with this kind of wallet then read our Cryptocurrency Hardware Wallet Guide first.
The first step to hardware wallet security tips is to buy a reputable hardware wallet. Only buy one of the most well known and trusted Hardware wallets. The top three in 2018 are
If you don’t choose one of these three then be sure to do your homework well when investigating other alternative hardware wallets.
It is possible for even the best Hardware wallet to be compromised by hackers before you receive it. Although this is not very common, nor an easy task, it could be worth some hackers time and effort since Hardware wallets are usually purchased to hold larger amounts of coins. Some hardware wallet manufacturers will describe how to visually inspect the hardware to be sure it is original and unaltered. Hardware wallets also usually have internal software checks which can indicate any problems (like hacked software) that they detect.
STANDARD HARDWARE WALLET SECURITY TIPS
To protect your funds, follow these fairly standard hardware wallet security tips:
- DEALERS ONLY: Only buy new Hardware wallets and only buy them from the original manufacturer or authorized dealers.
- AVOID DISCOUNTERS: Be very skeptical of buying from discount sellers. In particular be wary of buying a hardware wallet on sites such as eBay, CraigsList, or any other online discount outlet.
- NEVER USED: Never ever buy a used wallet.
- STARTUP: When starting up your Hardware wallet for the first time you should be sure to monitor the wallet display for important error messages. These error messages could indicate that the software has been tampered with. If the wallet software has been compromised, then you should inform the manufacturer and then throw the wallet away.
- PRE-SEEDED: A new hardware wallet will never have the Seed pre-printed in the package. If you find something like this then you have been scammed. Although you can reset the wallet and start fresh with a brand new seed, your wallet will always be suspect. In this case, it is probably best to just take your initial loss and throw that wallet in the trash.
- GOOD SEED: Your Seed will be generated when you start the wallet for the first time. Make note of in on paper. You will need this seed if you ever want to switch to a different wallet and recover all your keys (money).
- SOFTWARE: Use the Hardware wallet’s own provided accompanying software. A hardware wallet can’t do much without a companion software wallet. Or choose a well known and trusted alternative software wallet to work with your hardware wallet. Check out our software wallet security tips.
ADVANCED HARDWARE WALLET SECURITY TIPS
The following advanced hardware wallet security tips are for those who want additional security and are willing to put in extra effort to get it. These tips may also address more rare, fringe issues.
- This wallet is so secure that as long as you follow all other applicable security steps which are outlined in this document that we don’t think that there are any more exotic steps that need to be listed here. If you can think of any additional tips then please do comment below.
See all of our cryptocurrency security tips.
In the comments below, you can add your own tips, and/or correct or dispute our tips.