Tag Archives: offline wallet

Keeping Cryptocurrency Safe in a Wallet!

Keeping Cryptocurrency Safe in a Wallet!

Keeping Cryptocurrency Safe in a Wallet is good advice, but what does that mean. Below I list how cryptocurrency can be stored in an ascending order of security.

Money in a Currency Exchange

Currency exchanges perform a much needed function. They allow you to convert fiat into cryptocurrency and to buy and trade cryptocurrencies online. However, some have been hacked in the past and no doubt some will be hacked at some point in the future.  Some good examples of exchanges  are:

International
Coinbase: https://www.coinbase.com
CEX.IO: https://cex.io/

Australian
CoinSpot: https://www.coinspot.com.au
CoinJar: https://www.coinjar.com

Keeping Money in a Desktop Wallet

Desktop wallets are wallets that store your secret key on your hard drive. Desktop wallets are more secure than an exchange.

Wirex is an impressive Multi Cryptocurrency desktop wallet that can also be used on mobile devices.

Keeping Money in Hardware Wallets (cold storage)

Cold storage allows you to store your encrypted wallet offline altogether. The public (sending) addresses can be used any time to send additional bitcoins to your wallet, but spending the bitcoins would require physical access (in addition to knowledge of the password). Cold storage should be used for holding large amounts of bitcoins or other cryptocurrencies. Some of the great cold storage devices designed to safely store your coins are:

KeepKey

Ledger Wallet

Trezor

Keeping Cryptocurrency Safe in a Wallet!

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