More hacking issues recently surfaced through the threats of the Italy-based company, Hacking Team, generating security awareness among bitcoiners, even including the Bitcoin gamblers.
Anonymous online browsers are not the only option available for adding another layer of security between hackers and bitcoins, there are other ways to strengthen the backbone of personal Bitcoin security, and these are called hardware wallets.
Hardware wallets can also play a very important role when safeguarding Bitcoin. Most may come at a price but the quality and user friendliness delivered are superb. Therefore, with the use of this technology, the fight will again be brought toward Bitcoin’s advantage, making e-wallet hackers think twice.
The counter punch
Other than software, mobile, and web wallets, hardware wallets are Bitcoin advancements that store part of an electronic wallet offline, leaving the data in a secure location. These devices are tangible to users, allowing them to bring it around much like a flash drive.
Ledger Wallet Nano has been providing Bitcoin hardware wallets with additional security since December 2014. The hardware’s purpose is to prevent attacks and threats during transactions. It also works well for the cryptocurrency’s safekeeping since it combines the best of both worlds in terms of security, the need for both physical interaction and digital information. This makes it near impossible to lose bitcoins against hackers or other forms of attack. No virus or third parties can infect or compromise the data that it contains even if plugged into infected computers.
Ledger is currently in the process of having the Bitcoin security run without the need for an external device. Integrating the system with the use of mobile phones, and virtualizing the already existing hardware has come up. Prototypes of Ledger Trustlet have been demonstrated by the company with the use of Samsung mobile phones, specifically the Galaxy S6 and Galaxy Note 4.
Numerous risks are involved when keeping bitcoins on mobile phones without any security, including malware attacks which are immensely dangerous.
The goal is to shelter the user’s cryptography from foreign elements that raise threats, or worse, invade the data. Trusted Execution Environment (TEE) will reside in the application processor of devices, preventing observation of outlying elements within the device.
Furthermore there is market for those who might not want to have the physical device around but also take advantage of its protection. There is room for both to exist, and Ledger anticipated the need for both alternatives.
Added peace of mind
Bitcoin casinos require online transactions, and using wallets for Bitcoin casinos is the only way to make deposits and withdrawals. Once the mobile version of Ledger Wallet Nano is released, bettors can utilize the comfort of having security while playing Bitcoin games on their mobile phones.
With the use of hardware wallets, safer deposits and withdrawals in a Bitcoin mobile casino are to be expected without hindering processing time due to its ease of use. Bitcoin gamblers need not think of losing bitcoins to hacking, thereby stimulating online gambling experience Bitcoin betting has to offer.