There are many different kinds of wallets you can keep your crypto in, but how do you know which one is best for you?
Here we discuss a range of popular options of wallets you can store your crypto in. By the end of this article, you will have the information needed to make your decision.
Keeping your crypto on an exchange can prove an efficient solution for certain investors out there. This will provide liquidity for those who value the need to act quickly, although you may be sceptical about keeping your crypto here. This solution, similar to any exchange, keeps the possibility open for hacks or any sort of cyber theft. Binance, for example, one of the world’s top and most trustworthy exchanges recently got hacked for millions worth of bitcoin. Indeed this could happen to most exchanges and there are arguably safer options available to store your crypto.
ERC20 Compatible Wallet
An ERC20 compatible wallet can consist of either a hot or cold wallet. A hot wallet provides similar security to an exchange, however lacks the liquidity benefit. A cold wallet on the other hand, such as the Nano Ledger, arguably provides one of the most secure solutions to store your crypto, if you trust yourself enough to keep good care of the private keys that is! Storing your crypto offline is widely regarded as a means of security, however, unlike the exchange option, provides a significant time delay in liquidating crypto should you wish to.
The paper wallet is essentially the ‘coldest of wallets’ as it is a physical copy of your digital assets. Both your public and private keys are printed out in this scenario, therefore, trust in yourself is needed to ensure you don’t lose the keys. Nevertheless, this option is regarded as amongst the safest, although, similar to the Nano Ledger, liquidity is minimal compared to its counterparts, it is more cumbersome for use and also, is susceptible to water spillages, fire damage and other accidents.
For those of you out there who would prefer a bit of all of the above solutions, the Zeux wallet could be right for you. With the Zeux wallet, safety and convenience is ensured as you can withdraw your crypto from the app back to any exchanges with a few simple taps.
For those of you concerned about the security, aside from end — end encryption and biometric security, cryptos held with Zeux are insured by Lloyds of London for up to $100m and are held in a variety of cold and hot wallets. Read more about that here.
And where is best to store ZeuxCoin (ZUC)
You may be wondering where the best place is to store ZeuxCoin, and for that we have you covered.
One must consider the impact of wallet theft on the value of a coin associated to that wallet. If we take ZeuxCoin (ZUC) as an example, should Binance, or an ERC20 wallet be hacked, the impact on its token value would be minimal giving a huge incentive to cyber-thieves to target these wallets. On the other hand, if the token were to be stolen from its own associated ‘Zeux wallet’, the coin value would decrease substantially, minimising any incentive for cyber-thieves to target such a wallet.
Furthermore, unlike others, Zeux is the only wallet that can let you earn up to 1.5% cashback on all your crypto payments simply by holding ZeuxCoin (ZUC).
With all this information, whichever place you decide to store your crypto, we’re sure you’ll make the right choice.
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