Some hardware wallets even allow you to store NFTS. There are some wallets that accept some coins and not others. Does a hardware wallet work for all coins?Ī. Because of this I also recommend keeping a spare hardware wallet at home to re-seed immediately just in case your primary hardware wallet is no longer functioning or is lost/stolen.
#Amp coin stocktwits Offline
Therefore KEEP YOU RECOVERY SEED OFFLINE IN A SEURE MANNER AND IN MULTPILE SECURE PLACES. Just be sure to remember which cryptos you own because you will probably have to reinstall appropriate "apps" to be able to see and interact with each crypto. Under the BIP39 standard, you can actually buy any hardware wallet that supports this standard and re-seed the wallet with the phrase. As mentioned above, all you need is your recovery phrase. What happens of I lose my hardware wallet?Ī. Your keys give you ownership over certain aspects in the blockchain that proves "User X has a balance of Y for crypto Z". Your crypto is actually not stored on the hardware wallet itself, but rather the blockchain. Your seed basically gives you access to a master key, and this master keys essentially works for all your wallets. How does a seed give me access to my crypto?Ī. It is a non zero chance of seed collision, but the chances are so astronomically small that it is essentially guaranteed you will always have a unique seed. In fact, if there were hundreds of millions of universes, I would have a better chance of picking each atom in each universe you picked before a wallet generates the same seed. If you pick a random atom in the universe, I will have a much better chance of picking the same atom you secretly picked. There are approximately 2 82 atoms in the universe. Each wallet randomly generates a 24 word seed. Ledger uses the BIP39 protocol for a 24 word pneumonic seed. Note, the following FAQ is with respect to my experience/knowledge of the Ledger Nano S Plus, although they (mostly) can be applied to other hardware wallets:Ī. I know some people may not know too much about them or care to do research so I will do a simple FAQ in this post to ease concerns and help transition the AMPire family to secure storage of crypto. Hardware wallets are the safest option to store your keys. Given the current environment, I think it is pivotal to echo the the sentiment "not your keys, not your crypto".
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