Our comprehensive guide on how to store digital assets safely.
See how guide on how to buy crypto hardware wallets.
A public key is the key you can give to others to receive payment. This key is your wallet address and nonody can access your wallet using this key.
A private key is the password to your wallet. This can be a password you create or a cryptographic code that is generated by the wallet. Private Keys are what your hardware wallet stores on the memory. Private Keys are the access to your account and should be kept secure at all times. Never give out your private key to anyone under any situation.
All wallets are classified as either hot or cold. One that is connected to the internet or is online is said to be ‘hot’. On the other hand, ‘cold’ implies it is offline or disconnected from the internet.
‘Cold’ is considered the most secure, thus, recommended for storing large amounts of bitcoins. ‘Hot’ is suitable for frequently accessed funds. Therefore, the best strategy is to use cold storage for long term holdings and a hot wallet for regular use.
They are designed to be downloaded and used on laptops and personal computers. They are easy to access and use even when the computer is not connected to the internet.
They are available for different operating systems – Windows, Mac OS
We use phones for most tasks these days and bitcoin wallets tailored for your Smartphone is therefore very convenient.
Perhaps, one of the most handy features on mobile wallets, apart from enhanced security features, is the QR code capability. It enables instant payments.
These are provided on the cloud by third party wallet service companies. The wallets on these platforms are only accessible through an internet connection
If you thought bitcoins were digital only, then think again. Paper wallets can securely hold your bitcoins in cold storage form for a long time. You can store this form of wallet it in a safety deposit box along with your other valuables.
In order to generate a paper wallet, you use sites such Bitaddress.org or Blockchain.info. Once they are generated, you print them out on a piece of paper.
Trezor and Ledger Nano Sare quickly becoming popular as portable physical vaults. They are incredibly small devices. They are secure for storage, sending and receiving transactions online. Their developers make use of top grade cryptography and take them take through continual scrutiny.
So there you have it, the most comprehensive guide on how to store digital assets. Keep your cryptocurrency safe!