It’s not easy being a crypto investor.
They’ve seen the value of their holdings drop like a brick this year, and now many are stewing over the safety of their crypto cash after a series of heists that’s seen around $2 billion spirited away by hackers.
Enter the ghost of technology’s past.
Hardware wallets – old-school physical devices similar to USB drives that stash crypto holdings offline – might seem a throwback to a more innocent digital age, but they’re proving to be a popular response to a cutting-edge conundrum.
It’s not only hacks making investors edgy. Others lost access to their crypto when major lenders such as Celsius Network and Voyager Digital collapsed in July.
“We have definitely seen increased interest in hardware wallets, and in general self-custody, post-several issues,” said Adam Lowe, chief product and innovation officer at U.S.-based CompoSecure (CMPO.O), one of several hardware wallet makers seeking to capitalize on a rush for safety.
Read the full article: Cryptoverse: Hack jitters push bitcoin investors back to the future
