What’s the Safest Bitcoin Wallet?

What’s the Safest Bitcoin Wallet?

For us at WikiCrypto, the Ledger Blue is the safest Bitcoin Wallet in 2017. It’s one of the most versatile, stylish and tech-packed Bitcoin wallet made by Ledger. Ledger is one of the pioneers of the hardware Bitcoin wallet market. It was founded in 2015 by founders with extensive experience in security and cryptocurrency trading. Check out our guide for how to invest in Bitcoin for the long run.

Security of the Secure Element

Inside the Ledger Blue, there’s a secure element which makes sure that the Bitcoin hardware wallet is unhackable. The secure element acts as a storage for the software which keeps your Bitcoin’s private key. It’s called a secure element because it’s impossible to break into by tearing apart the device. Even if you did tear it apart, you won’t be able to extract any data, thus keeping your Bitcoin safe. The company’s founders come from security backgrounds, in the field of smart-cards and secure embedded OS. So it’s a company that people trust because of the many security services it provides. You can rest assured that the Ledger is the safest bitcoin wallet for your needs.

Recovery of Bitcoin

When you set up your Ledger Blue, the device will generate a 24-word passphrase which you need to note down. It’s a security measure which makes life much easier. This passphrase can be used to recover your account if your device is broken, stolen or lost. You can just buy another Ledger Blue and get all of your coins on the new device just using the passphrase. It’s a great system to make sure that even if someone steals or breaks your device, your Bitcoin or altcoins are still safe and recoverable. This kind of technology is prevalent in the Bitcoin hardware wallet world.

2-Factor Authentication and Other Security Features

The Ledger Blue also has a WYSIWYS (what you see is what you sign) protocol to help prevent any transaction that might be scammy. This essentially means that when you want to carry out a transaction, the Ledger Blue will display it on its screen and the user will click on approve to verify the transaction. Thus, if a hacker has access to your computer and your Ledger Blue is connected, you don’t need to worry. In order for the hacker to access your coins, he would need to click approve in order to approve the transaction. This is pretty much impossible since the hacker can’t possibly have your computer, your Ledger Blue, your pin code as well as your 24-word passphrase.

When you receive the Ledger Blue, there’s no anti-tampering tape on the box. That’s because the Ledger team has put in security measures that make sure that there cannot be any tampering with the device. Essentially, a cryptographic mechanism checks the integrity of the Ledger Blue every time it is turned on. Think of it as a safety check before the pilot takes off. It’s a great way to make sure that the Ledger Blue is uncompromisable. 

That’s it

With these absolutely great security features, you can be sure that your Bitcoins are safe and that the Ledger Blue is the safest Bitcoin wallet made this year. Check out our article on how to invest in Bitcoin safely

 

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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