Crypto wallets to safely store your digital coins
You should store your valuable cryptos properly, read here which wallets are available.
If you own cryptos, it is very important to store them properly. We all know of examples of people who own digital coins but have lost them. Prevent that by having a good wallet. Ultimately, the best wallet is one that is easy to use and one that is also tricky enough for hackers to not gain access to.
crypto wallets
A crypto wallet is a digital wallet. It is a piece of software installed on your computer or smartphone, or sometimes a piece of physical hardware. Technically, you don’t need a crypto wallet, but it makes sense. Some of these wallets are stored at companies, others offline on hardware. Also, some wallets are only focused on, for example, Bitcoin. So check carefully which one best suits your requirements.
Broadly speaking, there are two types of wallets. A hot wallet is one that is actively connected to the internet. That means it is very easy to transact with them, but they are also more vulnerable to attacks. These usually fall into a mobile wallet or a desktop wallet, with the type depending on whether you’re using a smartphone app or desktop app.
A cold wallet is one that is not connected to the internet. That means there is no risk of being hacked, but you do have to physically store stuff. An example is a paper wallet, where you store your Bitcoin or another cryptocurrency as a QR code that is printed.
Which?
It is important to know how you are going to use the digital coins. Do you trade often or is it a store of value? With the first, the online version is the most convenient. That way you can trade easily and execute trades with minimal effort. If you are going to save a lot of money, the offline storage method is the best. Then don’t forget to store it somewhere safe.
