Whether you have been researching the latest altcoins for years, or you only got introduced to cryptocurrency because of this year’s Big Game ads, it is no secret that crypto is mainstream right now.
When it comes to advertisements, sponsorships, or legislation on digital assets, the way crypto is perceived has totally changed from years past.
Let’s say you have decided that you want to get onto the bandwagon and invest in crypto. What next? Where and how do you store this internet money? This is where crypto wallets come in. Here is a quick guide from us on what you need to know about crypto and crypto wallets.
What is cryptocurrency
Cryptocurrency is a digital asset based on blockchain technology. Bitcoin was the first cryptocurrency to be created, but there are thousands of other coins, called Altcoins. Ethereum is an extremely popular altcoin, which unlike bitcoin allows users to create programs called smart contracts that run directly on its blockchain. This smart contract feature also allows the creation of new kinds of assets like NFTs.
Non-fungible tokens, also known as NFT’s are created and bought on the blockchain network, leading to an explosion in digital art sales. Ethereum being the most popular, with others like Tezos and Solana entering the space.
Keeping your crypto safe
When trading cryptocurrency or interacting online on these digital marketplaces there are risks, and one of the biggest issues plaguing cryptocurrency is the rise of scams targeted towards inexperienced users unfamiliar with the technology. Any cryptocurrency used in digital wallets connected to the internet could be vulnerable to online attacks — which could lead to stolen funds.
One way to prevent online attacks is to keep your private keys off the internet and far away from scammers. A cold wallet, otherwise known as a hardware wallet, is a physical device that stores your private keys and secures your cryptocurrency and NFT’s completely offline.
Cryptocurrency at Best Buy
Best Buy carries three versions of the Ledger Nano, an easy-to-use crypto wallet. The Ledger Nano S, Ledger Nano S Plus and Ledger Nano X wallets allow you to manage your crypto on the go in portable, simple-to-use devices.
The Nano S is a great entry option for keeping more than 5,500 coins safe, and allows cryptocurrency newbies to have industry standard protection over their digital assets. The Nano S Plus elevates the usability of the Nano S by adding more capacity and NFT readiness. The Nano X takes it to the next level, with the ability to add over 100 different apps simultaneously and secure more than 5,500 different coins, and other digital assets such as NFT’s. The Nano X also comes with a mobile app that can be accessed via Bluetooth connection, allowing for added ease of mind.
For more information on how to choose a crypto wallet, visit BestBuy.com.