When it comes to keeping your assets safe, there are different options for all kinds of security features.
One of the parts of investing in cryptocurrencies is choosing a suitable crypto wallet. A crypto wallet functions as your home for coins, and is a necessary tool for storing, sending and receiving digital currencies.
There are major groups of cryptocurrency wallets. Software wallets are usually the easiest ones to use, but they are also the least secure type of wallet as they are stored on a user’s computer. Hardware wallets are the most secure cold storage option available to cryptocurrency holders. They store your private keys offline, so there's no risk of them being stolen by hackers or viruses on your computer. It is recommended that you choose a cryptocurrency wallet that suits you best based on your personal preferences and needs.
The most common types of software wallets #ARE web wallets, desktop wallets, and mobile wallets. Web wallets can be accessed from any computer or smart device by logging in to the host site using a user name and password. Web wallets are easy to use, but they are also less secure than other types of wallets.
Desktop wallets #ARE typically more secure than web based wallets, because the private key never leaves the device. Desktop wallets will only be as good as the computer they run on, so be sure to keep them up-to-date with the latest security patches and set up a strong password. Mobile wallets are a convenient alternative to send and receive cryptocurrencies. A mobile wallet cryptocurrency is similar to a desktop version, but designed for smartphones. Coinbase Wallet is a notable example of a mobile crypto wallet.
Hardware wallets are physical devices designed to offer digital currency transactions through a secure internet connection. They are considered “cold” or offline wallets because they do not connect to the internet and can only be used while they are plugged into an outlet and powered on. This is one of the most popular methods for safely storing cryptocurrencies, but it is also one of the most expensive options.
Start by evaluating your own behavior as a user: When you choose a device password, take a moment to think about whether it could be guessed by someone else or use a password generator.
For reasons of convenience or expediency, you may be tempted not to use a hardware wallet and store your assets online. As comfortable as it may be, we do not recommend storing crypto-assets online. Make sure you get into the habit right away and always use a strong password, two-factor authentication and check for updated firmware.
We are very serious about the protection of our investors. It is extremely important to keep your cryptocurrencies securely, we recommend Ledger hardware wallets, who are a long-time player in the crypto realm and continuously improve technological features of their products.