General
Beginner
Updated 1/15/2025
What is
Hardware Wallet?
A physical device that stores cryptocurrency private keys offline, providing the highest level of security against hacks and malware.
A hardware wallet is a specialized physical device designed to securely store cryptocurrency private keys in an isolated, offline environment. Unlike software wallets that store keys on internet-connected devices, hardware wallets keep keys in a secure chip that never exposes them to potentially compromised computers. Transactions are signed within the device itself, meaning private keys never leave the hardware. Ergo is supported on Ledger hardware wallets, allowing users to secure their ERG and native tokens with the highest level of protection available.
Key Points
- Private keys never leave the device or touch the internet
- Transactions signed inside the secure chip
- Protected against malware, keyloggers, and remote hacks
- Ergo supported on Ledger devices via Ergo Ledger app
- Requires physical access and PIN to use
- Recovery possible with seed phrase if device is lost
Use Cases
1
Long-term storage of significant ERG holdings
2
Securing large cryptocurrency portfolios
3
Protection against computer compromise or malware
4
Inheritance planning with secure seed phrase backup
5
Business treasury management
Technical Details
Hardware wallets use secure elements (tamper-resistant chips) to store private keys and perform cryptographic operations. When signing a transaction, the wallet displays transaction details on its screen for user verification, then signs internally without exposing the key. Ergo's Ledger integration uses the Ergo Ledger app which supports ERG and native tokens. The device connects via USB and works with compatible wallet software like Nautilus.
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Frequently Asked Questions
Questions about Hardware Wallet
Common questions about this topic
How to get started with Ergo?
Start by getting a wallet (Nautilus for browser, Terminus for mobile). Back up your seed phrase securely offline. Get some ERG from an exchange (Gate.io, KuCoin) or DEX (Spectrum). Make a test transaction. Then explore: try DeFi on Spectrum, check out NFTs, or dive into the technology if you're a builder.
How-to
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Is Ergo a good investment?
This is not financial advice. Ergo has strong fundamentals: fair launch (no VC dump risk), innovative technology (eUTXO, Sigma Protocols, NiPoPoWs), active development, and a cypherpunk ethos. It's a smaller market cap project with higher risk/reward than established chains. Research thoroughly, understand the technology, and never invest more than you can afford to lose.
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What is ErgoScript and how does it work?
ErgoScript is Ergo's smart contract language - a Scala-based, functional language that compiles to ErgoTree for on-chain execution. Unlike Solidity, ErgoScript is not Turing-complete by design, ensuring predictable execution costs and easier formal verification. It's powerful enough for complex DeFi yet safe enough to audit.
Explainer
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What happens when all ERG is mined?
When emission ends (~2045), miners will continue earning from transaction fees and storage rent. Unlike Bitcoin which relies solely on fees, Ergo's storage rent provides a sustainable income stream by recycling coins from inactive boxes. The network remains secure without depending on ever-increasing transaction volume.
Explainer
Technology