There are numerous reasons why people refrain from cryptocurrencies and obviously one of them is security. Hackers’ attacks happen on a daily basis and many novice traders are afraid of losing their money. What’s more, people refuse to accept that it is up to them to protect their tokens. Needless to say, leaving them in an exchange is the easiest thing. Unfortunately, it is the riskiest decision as well.
This is why experienced traders prefer to invest in a hardware wallet. However, cold wallets not always provide the smoothest user experience on planet Earth. They can often be accessed only through official browser extensions, which is sometimes a pain. The other option is to visit MyEtherWallet but hey, MyCrypto has come up with a better idea.
Hardware wallets support
MyCrypto has just added support for both Ledger and Trezor. Why am I telling you this? Because now you can connect your cold storage with the native MyCrypto app and manage your cryptocurrency portfolio. Instead of using two different browser extensions for each of your hardware wallets, you can just stick to MyCrypto. This key feature takes crypto management to a whole new level.
The cybersecurity firm Cure53 has reviewed the app update, which makes us think that it is trustworthy. The MyCrypto app will definitely change the game but pay attention that the website does not support private keys, mnemonics, and keystores anymore. This is always a wise decision, especially when it’s made by a platform pretending to make cryptocurrency protection easier and smarter.
Nevertheless, I have to say that after everything that is happening in the crypto world perhaps not everyone is going for the new MyCrypto app. With all these scams and hacks plaguing the space, one might expect the new MyCrypto features are not going viral overnight.