Must-know tips to ensure your crypto wallets are protected
If you just decided to enter in the cryptocurrency world, you must learn about an important aspect, far more important than your trading skills, and that is security! Ethereum, Bitcoin, and all the others cryptos are kept in digital cloud wallets or deposited on your computer.
Cold storage might be the best option for you
Cold storage in cryptocurrency industry refers to a safe way to keep your cryptos, a secure offline method. Keeping your digital coins away from internet access, means the threats are significantly reduced and the possibility that someone might steal your cryptos reserve is significantly minimized. To get more to the point, in contrast to hot wallets, where your private key is stored online, and it is fully operated by the servicing platform, cold wallets store your private key offline and in most case is manually operated.
Hot wallets represent much of a changing market, as they are easy to create and maintain but notorious for their vulnerability to cybercrimes. Here a list with some of the most popular:
- Blockchain Crypto Company
- Binance
- BitStamp
- BitBond
- Bitfinex
When referring to cold storage wallets, the most relevant examples are the hardware wallets. This certain wallet comes on a USB device form and permits you to technically set up the device and create a digital folder that will keep your cryptos safe and offline.
Here are a few examples of safe such solutions:
- Software wallets that are permanently disconnected from the Internet
- Paper wallets
- Hardware wallets (like Trezor, Ledger Nano S, KeepKey etc.)
The crypto world is evolving though, and nowadays you don’t even have to worry about the technical part or about configuring them; licensed platforms like CryptoCoin.pro or BitCanuck.ca are storing most of the coins in their own self-configured multi-sign cold wallets. This way, the coins are safely kept, and the user becomes worry-free of any technical aspect.
Cryptocurrency cold storage is a brilliant solution
Taking into consideration that the cryptocurrency market is growing day by day, the most important aspect is keeping your digital coins safe and away from any kind of possible invaders, such as ransomware or keyloggers.
The best offline crypto solution? cold wallets. With this product, even if your CPU is attacked, or a conversion server has been compromised, your offline device seems to be the greatest way for your cryptos. Get your own offline wallet with just few clicks on BitCanuck.
Cold storage has various security levels, which means that even when is connected online for transacting, there are minimal chances to have your private keys stolen by an intruder.
To keep their digitals coins safe, more and more users are rapidly switching to this solution. The good news is that if you are ready to invest in faultless engineered devices, the cold wallets market is offering solid solutions.
Why you should store your cryptos offline rather than online
When referring to cryptos conversion platforms, hot wallets and cold wallets are the terms you will meet. Both are security measures settled by the cryptocurrencies conversion platforms to improve user’s resources from any possible attack.
It’s well-known that if something is online connected also becomes attack vulnerable; but if you choose to keep a small number of digital coins in a hot wallet is not necessarily risky, because in general, no hacker would want to waste his time and resources to steal small amounts of money. Also, another important security aspect which should be taken into consideration is to keep your cryptos in several wallets, either if these wallets are cold or hot.
Need help deciding on a hardware wallet solution? Start now with either a physical drive like Ledger Nano S, which offers robust safety features or simply start register within minutes with BitCanuck’s crypto services. By registering online, you will have all your assets safely stored offline, free of charge and without any technical knowledge required.
