A hardware wallet is a special electronic device that uses a secure chip to generate and store a private key. In the world of crypto-digital assets, the private key is the only proof of asset ownership, so private key security is the main concern of crypto-digital asset holders.
The hardware wallet stores the private key in a secure chip that is completely isolated from the network. By storing in this way, the private key will not be exposed to network hackers, greatly reducing the possibility of private key leakage and theft.
Compared to software wallets, most hardware wallets have the following features.
- Uses a secure chip to generate and store private keys
- Completely isolated from the network from hacking attacks
- Have physical buttons and screens that display transaction information
- All transactions are signed through the hardware wallet and the application does not have access to the private key