Hard Wallet

A hard wallet also known as a hardware wallet is a small handheld physical device with a secure storage of personal keys thus keeping your cryptocurrency secure through storing personal keys in off-line mode. In contrast to the hot wallets that are connected to the internet and therefore can be hacked, a hard wallet is somewhat like having the cash in a safety deposit box: someone else must be physically present to spend the money. It is preferred by those who aim at maintaining a high security of the crypto, and in particular if the individual intends to use it for long term storage. 

In its essence, employing a hard wallet is very uncomplicated. To retrieve your cash, you need to plug it into a computer, or link it with your phone, input your PIN or passphrase, and you are set. The wallet remains off line most of the times; it cannot be affected by viruses, malware and phishing as is the case with online wallets. Furthermore, almost all the hard wallets allow users to store several forms of digital currencies that he or she may possess.