What is a hard wallet in cryptocurrency?

A hard wallet, also known as a hardware wallet, is a physical device used to store cryptocurrency securely offline. It allows users to store private keys and sign transactions without connecting to the internet, making it less susceptible to online hacks and malware. Popular hardware wallets include devices like Ledger Nano and Trezor. Hard wallets are considered one of the safest methods of securing cryptocurrency, as they keep the user’s private keys safe and away from potentially vulnerable online systems. However, users must keep their hardware wallets secure, as losing the device or the recovery phrase can result in the loss of funds.