Assuming that you want to learn how to store cryptocurrency correctly, I will
dwell in more detail on the issue of cold storage.
Cold storage is a term referring to private keys, which are usually created and
stored in a secure, isolated environment. This means that your money will not be
located on any site. This wallet looks like a USB flash drive: you can connect it
to a computer and make a transaction quickly.
The most popular cold storage wallets are Trezor, KeepKey. and Ledger.
This method is very popular for storing a significant amount of funds in
cryptocurrency. Transactions are seldom performed, and security is one of the
top priorities. Therefore, the cold storage suits you the best if you decide to hold
your funds for the long haul.
There is another reliable option allowing you to store your cryptocurrency –
Bitcoin debit cards.
The essence of these cards is also quite simple. You register a wallet on the site
and transfer bitcoins to it. After that, the service sends your Bitcoin debit card,
linked to your mobile phone number, to the indicated address. It is very
convenient to pay for purchases using this card. However, I warn you that this
method of storage is not cheap. Each time you pay with this card, there’s a fee of
about 3%. Therefore, this method of storing Bitcoin is not entirely suitable for
daily use. However, this card is the perfect choice for people who get their salary
paid in Bitcoin and want to pay for their purchases with this card anywhere in
Finally, remember that a wallet can be hacked, so any hot storage option carries
a certain level of risk. Take the same approach as with your bank cards: do not
store all your money on a single bank card. You need hot wallets to add money
to your account on the cryptocurrency exchange and to make transactions. They
are also used to participate in the ICO. However, I recommend you hold most of
your money in a cold wallet. It is not connected to the Internet so it cannot be
hacked, which makes it way more secure.
To make your wallet safe, create a separate email account for each wallet,
protect it with two-factor authentication, and, most importantly, write down all
your passwords on paper.