In the fast-changing world of cryptocurrencies, keeping your investments safe is crucial. Recent months have seen many scams and fraudulent activities in the crypto industry, causing investors to lose millions of dollars. To protect your assets, it’s vital to use a hardware crypto wallet because it works offline and provides high security.
Trezor’s New Self-Custody Hardware Wallets
Trezor, a major company from the Czech Republic known for its hardware crypto wallets, is marking its 10th anniversary with the release of three self-custody products. These wallets not only protect your crypto holdings but are also user-friendly.
The three new Trezor wallets are:
1. Trezor Safe 3: This wallet is designed for beginners and supports over 7,000 cryptocurrencies.
2. Proprietary Private Key Backup Solutions: This wallet comes with exclusive private key backup solutions.
3. Bitcoin-Only Wallet: A dedicated wallet exclusively for Bitcoin.
Surge in Crypto Scams Boosts Popularity of Hardware Wallets
As of October 12, 2023, and amidst ongoing crypto exploits in recent weeks, the crypto world is feeling the impact of scams. In September 2023, a staggering $330 million was reported lost in crypto due to these scams, as noted by Todayq News.
Beyond Trezor, another hardware crypto wallet provider, Ledger, a French company, has teamed up with PayPal, a major payment platform, to offer a secure entry point for crypto investors. In 2022, sales of hardware crypto wallets surged in response to growing exploits and scams, making investors more mindful of this essential tool in the cryptocurrency realm.
Back in 2021, the pro-Bitcoin advocate Jack Dorsey revealed plans for his company, Square, to launch a hardware crypto wallet, although only a prototype has been created thus far. Market research estimates the global hardware crypto market’s worth at $245 million, with expectations to reach $3.6 billion by 2031.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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