SOL, also known as Solana, is seen as a competitor of Cardano and Ethereum and is fast approaching its rivals' value too. Given the popularity of the coin, it's a good idea to securely store your Solana on a hardware wallet.
We specialise in hardware wallets. Nowadays, there are many hardware wallets on the market. However, there are few which can store Solana. Solana can also be stored on other software wallets and exchanges, but if you ask us, these options are not as safe as a hardware wallet.
When configuring your hardware wallet, you generate an access code (private key). Your hardware wallet creates this offline, and it will not be shared online.
What can you do with a Solana (SOL) hardware wallet?
A hardware wallet enables you to store your coins offline. This makes it quite hard for hackers to steal your coins. If something is stored offline, they cannot access it.
Of course, a hardware wallet enables you to send and receive coins. It's also possible to stake Solana. When you choose to start staking, you use the Proof of Stake protocol to fix your Solana on the blockchain. You'll receive a compensation for this service. This way, you can receive a return on investment over your Solana coins.
Good to know: you don't actually store your coins on a hardware wallet. Your hardware wallet secures the access code (private key) to your wallet address. Your coins are on the blockchain. You should see your wallet as a PIN code which grants you access to your part of the blockchain.
Why a hardware wallet is safer
A hardware wallet is an offline device, and depending on which hardware wallet you have, is only limitedly connected to your computer or phone. So, when you store your coins on a software wallet or in an exchange, you don't have this advantage. A software wallet or exchange is connected to the internet, and you are dependent on another party to store your coins.
You should completely store your access code offline. If someone else has your access code, he can transfer your coins to his own wallet, and you won't have recourse to a customer service, like you would with a bank.
Below we've shown all the hardware wallets which can store Solana:
