Cryptocurrency wallets: Cold storage (hardware wallet & paper wallet) - Blockchain Tutorial

Cryptocurrency wallets: Cold storage (hardware wallet & paper wallet) is a free tutorial by Cem Goksel Ozargun from Blockchain course
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Course summary:
Bitcoin and how it works
Blockchain and how it works
Cryptocurrency, coin, token, altcoin
Hot wallet vs cold storage
Software, hardware and paper wallets
Ledger Nano S and how to use it
Desktop, mobile and web wallets
Public key, private key and address
Cryptocurrency mining
Hash rate and hash power
ASIC mining devices
Methods of cryptocurrency mining
Mining pools and how to choose the best
What you need to mine cryptocurrencies
Profitability calculation in mining
Cryptocurrency exchanges and how to choose the best
How to buy cryptocurrency from Binance
How to transfer cryptocurrency from Binance
How to earn money from buying and selling cryptocurrencies
How to create an Ethereum wallet on MyEtherWallet
How to send and receive Ethereum on MyEtherWallet
Market order, limit order, conditional order
Bid and ask, maker and taker
Bitcoin block and its contents
Digital signature and its use
Hashing and hash function
How money evolved into bitcoin
English
In this lecture, we are going to talk about cold storage, a sub-category of cryptocurrency wallets, which includes In this lecture, we are going to talk about cold storage, a sub-category of cryptocurrency wallets, which includes hardware wallets and paper wallets. So, after learning about the risks of hot wallets, if you are wondering that whether there is anything you can do to protect your funds against can do to protect your funds against hackers, actually the answer is yes, there is something. There is this option of storing your cryptocurrencies in another type of wallet called offline wallet, or more often called cold storage, which can keep your funds offline and secure all the time. Well, being offline really helps in keeping a wallet safe from hackers because it stores your private key offline, and thus inaccessible to them. Accordingly, using a hardware wallet is what I do to store my cryptocurrencies safely and I would recommend anyone to do the same thing if you value your hard-earned coins. Now, I want to tell you about the two great and useful sub-categories of cold storage called hardware wallets and paper wallets. First of all, as it can be understood from the name, a hardware wallet is a hardware device which store users� private keys on the device instead of the internet. These wallets normally remain offline but as they are plugged into a computer via a USB cable, they connect to the internet and then they can be used to make transactions. Most importantly, these devices are deemed extremely secure because of the following advantages: Firstly, your transactions are signed offline and your keys are stored offline, so you don�t have to share your private key with a third party. Secondly, the device asks you for your pin code every time you plug it into a computer, so no one else can access your device unless you share the pin code. Thirdly, in order to approve a transaction, the device requires you to click on a hardware button, so a hacker would never be able to get hold of your funds without having physical access to your device first. Also, in addition to their advanced security, another advantage of hardware wallets is that they can support tens of popular cryptocurrencies while most software wallets only support a few. Not to mention that hardware wallets also support interoperability with several software wallets without exposing the private keys, thus allowing the users to go for the software wallets they like without compromising security. wallets they like without compromising security. So, what are the examples of hardware wallets, and how can they be bought? Well, as the most popular examples for hardware wallets, I can say Ledger, Trezor and KeepKey are great. I personally use Ledger Nano S which is a product of Ledger and I believe it is a bit superior than its closest competitor, Trezor. I definitely love this wallet: Ledger Nano S, and I would recommend it to anyone. In fact, in the next lecture, I will explain what it is and how it can be used in detail. If you decide to buy it now or later, keep in mind to buy it from its official website, for which you can find the link in the resources section. Why am I saying this? Because unofficial sellers can tamper with your device and use it to steal your funds. However, even though hardware wallets have many benefits, they also have some cons as well. For example, the price of hardware wallets is a little high, which starts from $85 at a minimum. Also, as crypto