Ledger HW.1 is a small device that can protect your bitcoins and other crypto currencies. HW stands for hardware because this type of wallet is a hardware Bitcoin wallet. Ledger HW.1 is not only for a single user but is also available for a group of users.
Getting to know Ledger HW.1
Businessmen are the usual users of this wallet. But this is also beneficial for families because it can help them secure their coins without the fear of having the coins stolen online. The device has different editions, such as classic, multi-sig, and enterprise, depending on how the user will use it. All packs have a HW.1 chip, recovery sheet, and security key.
Apart from being a multi-signature wallet, this device also offers a backup and restoration feature. You can use any Ledger Wallet available or other compatible devices if you want to restore your coins. You just have to know your recovery passphrase. The microchip found on the device also secures your coins with a pin.
This Ledger device comes with a manual, recovery sheet, and security card. You can connect it to any USB port as long as it is type A. It is compatible with Mac, Windows, Chrome OS, and Linux. The lifespan of a Ledger HW.1 is up to 30 years.
How to get started with Ledger HW.1
After buying your device, you have to initialize it first before you can start using it. You have to make sure that you use a safe computer before you start the process. Afterward, you download the Ledger wallet Bitcoin app.
Then, you connect the device to a USB port and follow the instructions to create a wallet. The device will then ask you to choose your four-digit PIN. You have the choice if you will personalize it or the computer will do it for you. Your recovery sheet will then give you 24 words for backup. This is crucial because if you fail to remember or have a copy of these words, there is no guarantee that you can recover your coins.
A confirmation text will appear on your computer once the process is done. This means that your device is now ready and safe to use. You do not have to worry about infected computers anymore because your wallet is 100% secured.