After reading How to buy crypto you may be interested in how to store your assets
On this blog we shall discuss how you may be able to do that in the most secure way because ever since crypto became more mainstream hackers are coming up with newer ways to get their hands on the assets of the average joe.
There are two main tools to store your crypto:
1 – Hot wallet:
The term “Hot wallet” refers to software wallets or as some people like to refer to them “online wallets”, the most mainstream ones are Coinbase, Blockchain wallet , Exodus, MetaMask, Phantom, Trust wallet.
One thing you may want to note here is that not all online wallets are safe for your investments.
Some of them are kind of suspicious because they don’t hand you the private keys. The private key is basically a 12 random word sentence (usually) that grants ownership of the assets, we highly recommend staying away from those.
Instead we suggest that you go with something like “trust wallet” for altcoins and electrum for Bitcoin wallet.
We suggest that you print the private keys and keep the somewhere safe offline, some people like to write their private keys in a text file and upload it on some cloud storage service like mega but this is always a target of hacking some you may want to stay away from that if possible, we are not saying that mega is not safe by any means we do use it ourselves however we suggest that you go for 100% security since there is money is at play here.
2 – Cold wallets:
The term “cold wallet“ refers to hardware wallets, these are basically a special type of flash drive that gives the owner the ability to store his cryptocurrency in them.
This is a more expensive method of storing your cryptocurrency however it is the most secure one.
We highly advise this method if you are willing to hold your coins for a prolonged period of time.
Some famous hardware wallets are ledger nano S, Trezor model T, Bitbox02.
Those were our best recommendations for storing your crypto, we also recommend that you always make backups and keep your software updated.