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Crypto Basics

6 Best Hardware Wallets for Safe Crypto Storage

Protect your crypto assets with the best hardware wallets of 2023. Learn about the best wallet options for safe and reliable cryptocurrency storage.
Marcus K
7 Minutes
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Crypto investments have seen a meteoric rise over the years, and as more people join the blockchain revolution, the security of one's assets has become paramount.

Hardware wallets, often dubbed "cold storage", provide a secure method to keep digital assets safe from cyber threats and that’s why when it comes to securing your crypto assets, choosing the right hardware wallet is crucial.

In this post, we’ll explore the 6 best hardware wallets in 2023 for safe crypto storage, ensuring your digital investments are well-protected. 

What are Crypto Hardware Wallets?

Hardware wallets, commonly known as "cold wallets," are physical devices designed to securely store cryptocurrency private keys offline. These tools protect assets from online threats like hacks and malware since they keep private keys isolated from internet-connected devices.

To execute a transaction, users connect their hardware wallet to a device, sign the transaction offline, ensuring utmost security, and then broadcast it online. 

This method ensures the private keys remain inaccessible even if the connected device is compromised. As a result, hardware wallets are widely recognized as a top-tier security measure for crypto investors.

Things to Consider While Choosing Crypto Hardware Wallets

When selecting a crypto hardware wallet, several factors demand careful consideration. 

1. Security features are paramount; ensure the wallet provides offline storage and employs advanced cryptographic techniques. 

2. Evaluate its build quality—a sturdy construction can prevent physical tampering. User experience is crucial; the interface should be intuitive, with clear instructions and prompts. 

3. Consider the range of supported cryptocurrencies—a broad spectrum can future-proof your investment. 

4. Look into any associated software; it should offer seamless integration and regular updates. 

5. Lastly, community reviews and feedback can offer real-world insights into the device's reliability and performance. By balancing these factors, users can confidently choose a wallet tailored to their needs.

List of Top Hardware Wallets in 2023

As we navigate through 2023, an array of hardware wallets have emerged, each promising cutting-edge security and user-friendly interfaces. 

These compact devices have become the bulwark against cyber threats, ensuring that one's digital treasure remains impervious to vulnerabilities. 

But with an overwhelming number of options available, how does one discern the best from the rest? 

Here's a curated list of top hardware wallets this year, offering a blend of robust security measures, extensive cryptocurrency support, and seamless user experience, designed to cater to both novices and seasoned crypto enthusiasts.

1. Ledger Nano X

The Ledger Nano X is a widely recognized and respected hardware wallet. It offers robust security features and supports over a thousand cryptocurrencies, providing not just safety but also versatility.

Key Features:

  • Bluetooth functionality for easy connection to smartphone or computer.
  • Compact and portable design.
  • Backed up by a 24-word recovery phrase.

Why it stands out:

With its user-friendly interface and advanced security features, Ledger Nano X continues to be a popular choice for crypto enthusiasts.

Cost: $149 for Nano X (Check Latest Offers).

Cryptocurrencies supported: More than 5,500.

2. Trezor Model T

Trezor Model T is another top contender in the world of hardware wallets. It features a touchscreen interface and supports a broad range of cryptocurrencies.

Key Features:

  • Touchscreen interface for easier use.
  • Pin code and recovery seed for added security.
  • Open-source software.

Why it stands out:

Trezor Model T's open-source software and extensive crypto support make it an excellent choice for those wanting additional security and functionality.

Cost: $213 for Model T (Check Latest Offers).

Cryptocurrencies supported: More than 1,000.

3. Coldcard Wallet

Coldcard Wallet is a Bitcoin-only wallet known for its high-level security features, making it an ideal choice for Bitcoin investors.

Key Features:

  • Bitcoin-only wallet for dedicated investors.
  • Secure element for keeping private keys safe.
  • PIN and anti-phishing features.

Why it stands out:

If you are a dedicated Bitcoin investor, Coldcard’s Bitcoin-only focus and robust security features make it a top pick.

Cost: $157.94

Cryptocurrencies supported: Bitcoin-only wallet

4. KeepKey

KeepKey offers a straightforward user experience with essential security features, making it suitable for beginners in crypto investment.

Key Features:

  • Large screen for easy operation.
  • Simple interface, ideal for beginners.
  • Backup and recovery options.

Why it stands out:

KeepKey's simplicity and essential security features make it an ideal choice for those new to cryptocurrency.

Cost: $130.

Cryptocurrencies supported: More than 7,000.

5. SafePal S1

SafePal S1 combines affordability with security, making it a desirable choice for budget-conscious crypto investors.

Key Features:

  • Affordable without compromising security.
  • Mobile compatibility for easy transactions.
  • Multi-currency support.

Why it stands out:

For budget-conscious investors, SafePal S1 offers an affordable yet secure option for storing crypto.

Cost: $49.99 for basic hardware.

Cryptocurrencies supported: More than 30,000.

6. BitBox02

BitBox02 is a modern and streamlined hardware wallet offering high-quality security and ease of use.

Key Features:

Touch and OLED screen for easy navigation.

USB-C and A compatible.

Backup on microSD card.

Why it stands out:

BitBox02 offers modern features and a streamlined user experience for those wanting an up-to-date hardware wallet.

Cost: $149.

Cryptocurrencies supported: Around 1500.

Frequently Asked Questions

Q1. What's the difference between a hardware wallet and a software wallet?

A hardware wallet is a physical device that securely stores a user's private keys offline, while a software wallet is a digital application on a computer or smartphone that keeps keys typically online or in the device's memory.

Q2. How often should I update my hardware wallet's firmware?

Regularly updating the firmware ensures you benefit from the latest security patches and features. Always follow the manufacturer's recommendations and ensure updates come from official sources.

Q3. Can I store multiple cryptocurrencies on a single hardware wallet?

Yes, most modern hardware wallets support multiple cryptocurrencies. However, it's essential to check the supported coins list for your specific device model.

Q4. What happens if I lose my hardware wallet or it gets damaged?

If you've kept a backup of your recovery seed—a series of words given during the initial setup—you can restore your funds on a new device. Always store your recovery seed securely and offline.

Q5. Is it safe to buy a used hardware wallet?

It's generally recommended to purchase hardware wallets new and directly from the manufacturer or trusted retailers to prevent potential tampering.

Q6. How does a hardware wallet interface with blockchain networks if it's offline?

The wallet itself only signs transactions offline. To broadcast the transaction to the network, the signed transaction is sent through a connected device, ensuring private keys remain offline.

Q7. Are hardware wallets resistant to physical attacks?

Many modern hardware wallets come with tamper-proof features. However, physical security is always crucial. Ensure you store your device in a safe place, and always be wary of potential tampering if left unattended.

Q8. Can I use my hardware wallet with popular software wallets or exchanges?

Most renowned hardware wallets integrate with popular software wallets and exchange platforms, allowing users a seamless experience. Always check compatibility lists before making a purchase.

Conclusion

In 2023, these eight hardware wallets stand out for their unique features, security, and ease of use. Remember to consider your specific needs and requirements when choosing a hardware wallet for your crypto assets. 

With the options listed above, you can ensure the safety and security of your investments, keeping your crypto assets protected against unauthorized access and potential threats.

Remember, while technology provides tools for security, the best protection is always awareness and education. Ensure you're up-to-date with best practices and always double-check transactions and addresses. Your crypto assets are valuable, and they deserve the highest level of care and protection. 

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such.

Token Metrics does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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Crypto Basics

CoinGecko API - Features, Endpoints, Alternatives, and More

Token Metrics Team
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CoinGecko is a cryptocurrency data aggregator and analysis platform that provides comprehensive information on various aspects of the cryptocurrency market. It has gained huge popularity and is now one of the most commonly used platforms in the crypto sector.

CoinGecko also offers a an API, which provides access to cryptocurrency market data.

What is CoinGecko API?

CoinGecko API is a freemium, public API that provides developers with access to data about cryptocurrencies and their market prices, trading volumes, market capitalization, and other related information.

This data can be used for a variety of applications, including cryptocurrency portfolio tracking, trading bots, price alert systems, and more.

The API provides a number of endpoints that developers can use to retrieve different types of data, including cryptocurrency prices, market capitalization, NFT floor prices, exchange trading volumes, trading pairs, contract address data, crypto categories, crypto derivatives, images, developer activity, and other crypto industry related data.

How Does CoinGecko API Works?

CoinGecko provides developers an easy-to-use API that can be integrated into their applications to retrieve information about cryptocurrencies.

Through its API, CoinGecko offers various endpoints that allow developers to query cryptocurrency data in different ways. Some of the endpoints include:

Price Endpoint: This endpoint provides real-time and historical price data for cryptocurrencies.

Exchange Rates Endpoint: This endpoint provides exchange rates for various fiat currencies and cryptocurrencies.

Market Data Endpoint: This endpoint provides various market data such as market capitalization, trading volume, and supply for cryptocurrencies.

Developer Endpoint: This endpoint provides data related to the development activities of cryptocurrencies, such as the number of commits, stars, forks, and subscribers on their Github repositories.

Social Media Endpoint: This endpoint provides data on the social media activities of cryptocurrencies, such as the number of followers, tweets, and Reddit subscribers.

To use the CoinGecko API, developers need to obtain an API key from the CoinGecko website. They can then send HTTP requests to the API endpoints to retrieve the desired data. The API returns the data in JSON format, which can be easily parsed and used in the developer's application or a website.

Does CoinGecko have a WebSocket?

No, you need to make individual requests to the API to retrieve data.

Is CoinGecko API free?

CoinGecko API basic version is free* for those who want it for personal use and testing purposes only with some conditions and limits. CoinGecko free API has a rate limit of 10-30 calls/minute.

The free plan has limited endpoints and the number of calls you can make.

You need to upgrade to make the most out of the CoinGecko API.

CoinGecko API Alternatives - Free and Paid

CoinGecko is not the only place to get your Crypto data. In fact, there are some very great alternatives you can use to get propriety data like price prediction, indicators, and more, not just real-time prices.

Let's look at some of the best CoinGecko alternatives you can use today.

Token Metrics

Token Metrics is an AI driven crypto analysis platform which enables its users to research thousands of cryptocurrencies in an automated way. Token Metrics recently launched a Crypto Data API for crypto investors and developers. 

This AI-powered API allows users to get access to more than 10 actionable data endpoints to power trading bots, models, and platforms, to make the most money in the crypto space.

CoinMarketCap

The CoinMarketCap API offers both free and paid tiers, with different limits and access to endpoints.

Like CoinGecko, CoinMarketCap also provides access to data like real-time prices, volume, market capitalization, social media information, and more.

CryptoCompare

CryptoCompare API is another option for accessing real-time and historical cryptocurrency market data. It allows developers to easily integrate data such as prices, trading volume, and exchange rates into their applications. 

The API supports a wide range of cryptocurrencies, exchanges, and trading pairs, making it a great resource for anyone looking to build a cryptocurrency-related project.

Final Thoughts

CoinGecko is one of the leaders in the crypto space, providing access to insightful data about thousands of cryptocurrencies and the market.

However, as time goes on, better solutions are being built that are more powerful and use AI to power their data, like Token Metrics. This allows investors to turn data into actionable insights to make informed investment decisions.

Crypto Basics

What is Cosmos (ATOM) Crypto, and Is It a Good Investment?

Token Metrics Team
7 minutes

Click here to buy Cryptocurrencies from Gate.io

Cryptocurrencies have been on the rise, with Bitcoin leading the charge. But what is Cosmos (ATOM) Crypto, a lesser-known digital currency? And is it a good investment? 

Cosmos is one of the most recent cryptocurrencies to enter the market, drawing the attention of traders and investors alike. This article will examine Cosmos crypto and ATOM coin, how it works, and if it is a good investment.

We'll also examine the risks and rewards of investing in this digital currency. By the end of this article, you'll be well-equipped to decide whether investing in Cosmos crypto is right for you.

What is Cosmos (ATOM) Crypto?

Cosmos crypto is a decentralized blockchain network that aims to enable interoperability between different blockchains. It is an ecosystem of connected blockchains, allowing for the secure transfer of assets and information between different blockchains.

Its native token, ATOM, powers the Cosmos blockchain. ATOM a utility token built on the Cosmos network and is used to pay for transaction fees and reward validators for helping maintain the network.

How Do Cosmos Crypto and ATOM Coin Work?

Here's how Cosmos and ATOM Coin work:

Cosmos

Cosmos is built on the Tendermint consensus algorithm, a Proof-of-Stake (PoS) consensus mechanism. The Cosmos network consists of many independent blockchains connected through a central hub called the Cosmos Hub.

This hub acts as a gateway for cross-chain communication, allowing different blockchains to exchange data and value. Developers can build decentralized applications (dApps) on the Cosmos network using the Cosmos SDK, a modular framework for building blockchain applications.

ATOM

ATOM is used to power the operations of the Cosmos network. It is used to pay for transaction fees on the network, stake for network security, and participate in governance decisions.

Validators on the Cosmos network are rewarded in ATOM for validating transactions and maintaining network security.

Advantages of Cosmos (ATOM) Crypto

There are several advantages to investing in Cosmos (ATOM) Crypto. Here are a few that you should know of: 

  1. The Cosmos network offers high security, as it is secured by a network of validators and is somewhat-resistant to attacks. 
  2. The ATOM coin is designed to be used as a medium of exchange on the Cosmos network.
  3. ATOM coin is available on several exchanges, making it easy to buy and sell.

Risks Associated with Cosmos(ATOM) Crypto

As with any investment, there are some risks associated with investing in Cosmos (ATOM) including:

  • Market risk: The price of Cosmos (ATOM) is subject to market fluctuations and may be impacted by factors beyond the control of investors, such as changes in market sentiment, regulations, and overall economic conditions.
  • Technology risk: The success of the Cosmos blockchain technology is not guaranteed. It may not achieve widespread adoption or face technological challenges or competition from other blockchain platforms.
  • Liquidity risk: There is a risk that the market for ATOM may become illiquid or that there may be a lack of buyers or sellers in the market.
  • Security risk: All cryptocurrencies are susceptible to cyber-attacks and hacking attempts. While the Cosmos team has taken measures to enhance the security of the platform, there is no guarantee that it won't get hacked.
  • Regulatory risk: The regulatory environment for cryptocurrencies is still evolving, and there is a risk that governments may enact laws or regulations that adversely affect the value or trading of ATOM.

Click here to buy Cryptocurrencies from Gate.io

Factors to Consider Before Investing in Cosmos(ATOM)

If you are interested in investing in Cosmos (ATOM) cryptocurrency, here are some strategies to consider:

  • Research the Technology: It is important to understand the underlying technology and the potential use cases for the Cosmos platform. Conducting thorough research will help determine if Cosmos fits your investment portfolio well.
  • Diversify Your Portfolio: Investing in cryptocurrencies can be volatile, so it is important to diversify your portfolio to mitigate risk. Consider investing in a mix of different cryptocurrencies and traditional assets to create a balanced portfolio.
  • Stay Informed: Keep up-to-date with the latest news and developments related to Cosmos and the broader cryptocurrency market. Follow reliable sources of information and consider joining online communities to stay informed.
  • Determine Your Investment Horizon: Decide on your investment horizon, whether you are investing for the short-term or long-term. This will help you determine the appropriate investment amount and when to sell your holdings.
  • Consider Staking: Cosmos uses a Proof-of-Stake (PoS) consensus mechanism, which means that users can stake their ATOM holdings to help secure the network and earn rewards. Consider staking as a way to earn additional income from your investment.
  • Consider Dollar-Cost Averaging: Dollar-cost averaging is a strategy where you invest a fixed amount of money regularly. This can mitigate the risk of investing at the wrong time and potentially lead to higher returns over the long term.

Remember that investing in cryptocurrencies can be volatile and is not without risk. Conducting your research, understanding your risk tolerance, and considering your investment horizon before investing in Cosmos (ATOM) or any other cryptocurrency is important.

Differences between Cosmos and ATOM Coin

Cosmos is a blockchain platform that enables interoperability between different blockchains, while ATOM is the native cryptocurrency of the Cosmos network.

Top Exchanges to Buy, Sell, and Trade Cosmos (ATOM)

Here are some of the top exchanges to trade Cosmos (ATOM)

  1. Binance
  2. Coinbase
  3. Kraken
  4. KuCoin
  5. Gate

And remember to research and assess any exchange's reputation, security, and trading fees before trading. It's also important to consider the regulatory environment in your jurisdiction and ensure that the exchange you choose complies with applicable laws and regulations.

The Bottom Line

Cosmos has gained deserved attention for its potential to solve the problem of blockchain interoperability and fragmentation.

If you are actively looking to invest in cosmos, we suggest you need a thorough analysis and research before making a decision. Token Metrics helps with that.

Disclaimer

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such.

Token Metrics does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Click here to buy Cryptocurrencies from Gate.io

Crypto Basics

Ethereum Staking - What It Is and How to Stake ETH?

Token Metrics Team
5 minutes

Ethereum staking is a new way to earn rewards for holding ETH. It’s a process that involves depositing your Ether into a smart contract and receiving rewards in the form of ETH.

Ethereum staking has become increasingly popular over the past year and is expected to continue to grow. You can maximize your rewards and minimize your risks with the right approach. This article will explain Ethereum staking, its pros and cons, how to get started, and much more.

What is Ethereum Staking?

Ethereum staking is a way to earn rewards by depositing your ETH into a smart contract. It may require you to lock away your ETH in the contract for a certain period of time. But with liquid staking becoming popular, you can trade your staked tokens with ease. During this time, you will earn rewards based on the amount of Ethereum you have staked and the length of time you have staked for. Ethereum staking is a great way to earn passive income, as you don't have to manage your ETH actively.

The process of Ethereum staking works like this: you first need to choose a staking platform and deposit your ETH into a smart contract. The platform will then track your ETH and calculate your rewards. Once you have staked your ETH, you will receive rewards in the form of ETH. The rewards you receive can vary depending on the platform, the length of time you've staked for, and the amount of ETH you've staked.

Ethereum staking is an important part of the Ethereum network. It helps to secure the network and allows users to receive rewards for their contribution. By staking your ETH, you're helping to keep the Ethereum network secure and functioning properly.

Pros and Cons of Staking Ethereum

Before you decide to stake your ETH, it’s important to understand the pros and cons of staking. Ethereum staking has the potential to be very profitable, but there are also some risks associated with it.

One of the biggest pros of staking Ethereum is that it's an easy way to earn passive income. You don't have to manage your ETH actively; you can earn rewards by holding onto it. The rewards can be significant depending on the platform and the amount of ETH you've staked.

Another pro of staking ETH is that it helps to secure the Ethereum network. By staking your ETH, you're helping to keep the network secure and functioning properly. This helps to ensure the overall success of the network and can be beneficial for everyone involved.

On the other hand, there are some risks associated with Ethereum staking.

One of the biggest risks is that you could lose your ETH if your platform goes out of business or is hacked. It's important to ensure you're only using trusted platforms and taking the necessary steps to secure your ETH.

Additionally, you won't be able to access your ETH until the staking period is complete (until it changes with upgrades), which could be months or years.

How to Get Started with Ethereum Staking?

The process of staking ETH is relatively straightforward, but there are a few important steps you should take.

The first step is to choose a staking platform. Several different staking platforms are available, so it's important to research and choose one that fits your needs. You should also ensure that the platform is secure and that your ETH is safe.

Once you've chosen a platform, the next step is to deposit your ETH into the platform's smart contract. You'll need to enter the amount of ETH you want to stake, and the time you want to stake for.

That's it, you are now earning ETH as long as you are staked.

Ethereum Staking Pools

Ethereum staking pools are important because it allows you to stake any amount of ETH. If they did not exist, you would need to stake at least 32 ETH to become a validator. Pooling allows everyone to contribute ETH to fullfill the required amount of ETH to start staking.

There are several different staking pools available, so it's important to do your research and choose one that fits your needs. Most staking pools have a minimum amount of ETH you need to stake, so make sure you know this before joining. Additionally, some pools may charge fees for their services, so make sure to factor this into your decision.

How Much Can You Earn Staking ETH?

The amount of rewards you can earn from staking ETH can vary depending on the platform you're using, the amount of ETH you've staked, and the length of time you've staked for. Generally speaking, the more ETH you stake and the longer you stake for, the more rewards you'll receive.

The rewards you receive can also vary depending on the staking pool you're using. Some pools may offer higher rewards than others, so it's important to research and choose one that fits your needs.

Is Staking ETH a Good Idea?

Ethereum staking can be a profitable way to earn passive income, but it’s important to understand the risks involved. As with any investment, there’s always a chance that you could lose your ETH if the platform you’re using gets hacked. Additionally, you won’t be able to access your ETH until the staking period is complete, so make sure you're aware of this before getting started.

Overall, Ethereum staking can be a great way to earn passive income, but it's important to research and understand the risks before getting started. If you're willing to take risks and do your due diligence, Ethereum staking can be a great way to earn rewards.

The Bottom Line

Ethereum staking is a great way to earn rewards for holding onto your ETH. It's a process that involves depositing your ETH into a smart contract and receiving rewards in the form of ETH.

You can maximize your rewards and minimize your risks with the right approach. This article explains ethereum staking, its pros and cons, how to get started with it, and much more. If you're looking for a way to earn passive income, Ethereum staking could be a great option for you.

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