If a large portion of your assets are in cryptocurrency you better be an expert!ĭisclaimer: This should go without saying, but the information contained in this blog is not investment advice, or an incentive to invest, and should not be considered as such. Only invest / trade amounts commensurate with your level of knowledge. Lastly, don’t get carried away with the promise of high returns. If you don’t trust any storage solution that can be plugged into a computer, or are looking for a near indestructible back up for your hardware wallet then take a look at Cryptosteel. With this device a pin code gives you access to your coins, and if you lose it you can regenerate your wallet using the 24 word recovery code. Probably the most popular hardware wallet is the Trezor device. Hardcore crypto enthusiasts will tell you to keep your private keys completely offline. They store their private keys in multi-signature form in vaults in Asia, the United States and South America. I stored Bitcoin with Xapo, whose vault service is currently free of charge. Online wallets are convenient for shopping with Bitcoin but they are also not a safe place to store your coins. If you leave crypto sitting on the exchange you are at risk. Investors – perhaps you just want to buy some Bitcoin or Ethereum and hold it for the long term? In this case you will likely buy the coins on an exchange, but you then need to move them into a private wallet. If you are done with trading, or taking a break for a while, you should be moving your coins off the exchange to a private wallet or storage device.
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