Cryptocurrencies are digital-only assets that investors can delegate custody to a third party, such as an exchange, store in hot wallets, or rely on their own hardware wallets. Security concerns with online solutions and third-party risks (not your keys, not your coins) have increased the need for crypto investors to find offline, easy-to-use solutions to securely manage their crypto assets. This demand, along with a growing awareness of self-custody, is driving the expansion of the hardware wallet market, which is expected to reach 3.6 billion by 2031.
However, hardware wallet manufacturers need to overcome several challenges to compete effectively with software-based Web3 wallets. Unlike their software counterparts, hardware wallets require an upfront purchase and can be complex to use, especially for beginners. Additionally, like any physical wallet, hardware wallets are vulnerable to real-world security risks such as theft or structural damage — just like any physical wallet.
However, a well-designed hardware wallet can improve security without compromising accessibility. This is where NGRAVE, a digital asset security provider, steps in. The team believes that achieving air-gapped protection for cryptocurrency storage necessitates 100% offline usability, which hardware wallets and anti-tampering measures can provide. This means not having any connectivity like Bluetooth, NFC, WiFi or even USB to completely eliminate any hack or
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Author: Cointelegraph Accelerator
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