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5 Safe Ways to Store Your Cryptocurrency

 5 Safe Ways to Store Your Cryptocurrency

By now, you’ve heard all about cryptocurrencies like Bitcoin and Ether and how they’re the next big thing in finance. You might be wondering how to get your hands on some digital currency of your own, and how to store it safely so you can trade or use it later. The following are five safe ways to store your cryptocurrency for the long term that have stood the test of time and popular opinion.

1) Paper Wallet

For those who want a cold storage option, paper wallets are by far the safest way to store crypto. A paper wallet is nothing more than a bitcoin address and its corresponding private key printed or written on a piece of paper. The reason they're so secure is because they aren't connected to the internet, so hackers can't steal your information through an online exploit. Plus, if you lose your private key you'll lose all your money, as it won't be accessible on any device that's connected to the internet.

2) USB Stick

USB stick is one of the safest and most reliable ways to store cryptocurrency. It's good for people who want to do simple tasks with their crypto. While this type of storage is not recommended for active traders, it's an excellent tool for those just starting out or investing in cryptocurrency. USB sticks are inexpensive, and anyone can pick one up at their local retailer like Target or Walmart.

USB Stick

3) Hardware Wallet

Many cryptocurrency traders like yourself, are wary of storing their cryptocoins in a digital wallet. But there is an easy way to keep your coins safe: use a hardware wallet. A hardware wallet is any type of wallet that stores the user's private keys in a secure hardware device. These wallets cannot be infected by malware or phishing attacks and can be easily backed up using paper wallets that contain all the necessary information for spending your cryptocoins in case the hardware gets stolen or damaged.

Hardware Wallet

4) Paperback book

Crypto traders have a myriad of ways they can store their cryptos. A paper wallet is one way of storing it, but only as long as the paper is not left in the open. Leaving anything with a private key unencrypted and in the open for any amount of time is risky because anyone who finds it could potentially get access to your funds without you knowing about it.

5) Iron Ledger

Crypto coins have been getting a lot of attention recently as people are investing in them more. It is important for everyone who is buying and selling cryptocurrency to know how they can protect themselves against hacker attacks. Here are 5 safe ways to store your cryptocurrency: 1) offline, 2) hardware wallet, 3) mobile wallet, 4) encrypted email service, 5) cloud storage.