Hardware wallets

The private key is to be stored in the most secure location possible. Hardware wallets store the private key in a custom hardware designed to store private keys. It is not possible to export the private key in plain text, which gives it another layer of security. Hardware is connected to a computer only when required, and at all other times the private key is kept secure. Hardware wallets were first introduced in 2012 by Trezor.

Some of the popular hardware wallets currently available are Trezor, Ledger, and KeepKey wallets. The following snap shows an example of a hardware wallet connected to a computer: