Every blockchain address has both a public key and a private key.

— A public and private key will be generated every time you create a new blockchain address.

— The public key allows other users to find and transact with you; the private key gives you access to the address and agency over its contents.

— You must safeguard your private key to truly own your cryptocurrency. Keeping your private keys safe is essential.

Hacks

The next biggest threat to your security is hacking via the internet. 

To explain, some crypto wallets operate via software on the same device you surf the net with, such as your smartphone or laptop. This is very convenient, but since they store your private keys within their interface, it means a hacker with access to your laptop could potentially find and read your private keys. At this point, there’s nothing you can do to stop them. The private keys of your account grant the owner permission to control any assets at that address.

How To Keep Your Private Keys Secure

To avoid these types of threats, a great option is to use a Ledger signer. To explain, a hardware wallet is a physical device that allows you to manage your cryptocurrencies while keeping your private keys offline. Hardware wallets avoid online hacks as they remain disconnected from the internet.

Ledger signers are particularly strong as they use a Secure Element chip, one of the most secure computer chips in existence. This keeps your crypto safe from, not just online threats, but physical hacks too. Ledger signers use advanced technology and follow best security practices to keep your funds safe.

The Ledger Nano X is the first step in keeping your private keys safe, something that’s imperative for every crypto user.