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Ledger Wallet Makes Bitcoin Easier To Understand And Store

Published 3 years ago by JP Buntinx

Ledger Wallet Makes Bitcoin Easier To Understand And Store

Digital Money Times via digitalmoneytimes.com

Creating a Bitcoin wallet as a physical medium sounded like a strange idea a few years ago, but companies like Ledger have shown this might be the thing digital currency needs to reach a larger mainstream audience. Keeping in mind how the company CEO stores 1,000 of his own Bitcoins in a Ledger Wallet is a clear indication of how firmly he believes in the product’s security. Even if someone were able to store Eric’s Ledger Wallet – which is nothing more than a USB key on the outside – his funds would still be safe from harm. Unlike fiat currency wallets, the Ledger Wallet requires a private key before Bitcoin funds can be transferred to another address. That key is known to the end user alone, and the balance associated with the Ledger Wallet can be recovered by importing that key into a new Bitcoin wallet if needed. Some people might be wondering what were to happen with Bitcoin funds if a Ledger Wallet is connected to a computer infected with a virus or malware. But the Bitcoin company is not resting on its laurels, despite an overwhelming success with their Ledger Wallet product. A new version of the Bitcoin wallet, called Ledger Blue, will be going into mass production soon. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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