How to Safely Store Cryptocurrency
How do you store Bitcoins? Are you 100% certain that you won’t fall victim to hacks? What are the safest ways to store Bitcoins? Where do you keep Bitcoins? These are the questions many crypto enthusiasts ask because they fear losing their funds.
The answer to these questions is to store your cryptocurrency in a crypto wallet, specifically Guarda.
What Are Crypto Wallets?
Crypto wallets keep your keys safe. Especially your private key, which only you should know. Crypto wallets do not physically contain your digital currency. They work like an ultra-secure enclave that stores sensitive info giving you access to move, invest, or transact cryptos you own.
- Public Keys: It is like your email address. It is also like your bank account number.
- Private Keys: This is similar to your password. It is the one you want to keep secret at all times. A private key is an alphanumeric string created when you want to make your crypto wallet.
There are various cryptocurrency wallets available, but the key distinction is whether they are hot or cold.
In most cases, the hot wallet should only hold a small portion of your total cryptocurrency. These are funds that you might spend or transfer on any given day, similar to pocket money.
A cold wallet is similar to a regular savings account in that the coins are generally safe once they’ve been stored inside. Coins saved in a cold wallet, on the other hand, cannot be moved as quickly as those held in a hot wallet - which may be OK for those who aren’t active traders or deal with crypto transactions regularly.
The Best Way to Store Cryptocurrency
Are you thinking of ways how to store cryptocurrency? Here are some of the safest wallets for cryptocurrency. Desktop Wallets - It is a hot wallet, which means cryptocurrency is stored in online storage. You may keep control of your keys and, as a result, your transactions without involving a third party. Mobile Wallets - Using mobile wallets as a means of keeping your cryptos is another option. These software-based non-custodial hot wallets are comparable to desktop wallets. Hardware Wallets - Hardware wallets are becoming increasingly popular for storing cryptocurrencies. It’s classified as an offline wallet because it doesn’t require the use of an internet-connected device. Paper Wallets - When it comes to offline cryptocurrency storage, paper wallets are very safe and effective. It’s an offline technique that you can create with the help of certain websites.
How to Secure Your Crypto Wallet?
To secure your crypto wallets, you need to:
- Use a strong password to secure your cryptocurrency wallet.
- Any cryptocurrency exchange that isn’t trustworthy should be avoided.
- Keep your private key to yourself.
- Change your passwords regularly.
- Keep your personal devices safe.
Finding the right storage for your cryptocurrency is not easy. We recommend using Guarda wallet to store your cryptocurrency. With Guarda, security is paramount. You also have full control over your funds without third-party interference.