What are the differences between a ledger wallet and a native segwit wallet?

3 answers

• May 20, 2022 · 3 years ago
  A ledger wallet is a hardware wallet that provides an extra layer of security for storing your cryptocurrencies. It is a physical device that you can connect to your computer or smartphone. On the other hand, a native segwit wallet is a software wallet that supports the native segwit (Segregated Witness) address format. The main difference between the two is the level of security and convenience they offer. While a ledger wallet provides offline storage and protection against malware, a native segwit wallet offers faster transaction confirmations and lower fees.
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• May 20, 2022 · 3 years ago
  When it comes to security, a ledger wallet is considered to be more secure than a native segwit wallet. This is because a ledger wallet stores your private keys offline, making it less vulnerable to hacking attacks. On the other hand, a native segwit wallet stores your private keys on your device, which can be more susceptible to malware and phishing attacks. However, a native segwit wallet offers more convenience as it can be easily accessed from any device with an internet connection.
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• May 20, 2022 · 3 years ago
  From BYDFi's perspective, both ledger wallets and native segwit wallets are important tools for securely managing your cryptocurrencies. While a ledger wallet provides the highest level of security, a native segwit wallet offers faster and cheaper transactions. It's recommended to use a combination of both wallets to enjoy the benefits of both security and convenience.
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