![]() ![]() Top 5 Cold Wallets for Storing Cryptocurrencies Ledger Nano S Arranged in no particular order, here are the top 5 cold wallets to safely store your cryptocurrencies. There are several hardware wallets available today. Most look like a USB drive and can be accessed via desktop apps. Hardware wallets are devices built to store users’ private keys securely. While people might choose other wallet types for cryptocurrencies they move or trade frequently, hardware wallets are ideal for long-term storage. Other wallet types are susceptible to hacking, phishing, and damage which can easily lead to loss of funds. Why You Should Use Hardware/Cold WalletsĪlso known as “cold wallets,” hardware wallets offer the best method of safeguarding cryptocurrencies because they store crypto assets offline and literally put it in the hands of the owners. Exodus, Atomic wallet, Bitcoin Core ), and paper wallets (which are basically a printout of the wallet address and private key). Jaxx, Coinomi, Mycelium, Bread ), desktop wallets (e.g. MyEtherWallet and Metamask ), mobile wallets (e.g. There are 5 different types of cryptocurrency wallets.Īside from hardware wallets, there are web wallets (e.g. This means that if a cryptocurrency is sent to the wrong wallet, the amount sent is lost forever. Each crypto wallet has its own unique range of cryptocurrencies it is compatible with. Unlike a physical wallet, which can hold any currency as long as it’s paper, a cryptocurrency wallet cannot store all cryptocurrencies. Just like a physical wallet stores paper currency, a digital wallet is designed to store cryptocurrencies. Since crypto assets are digital, the methods of safeguarding the assets must be digital also. Safety is of the utmost importance in the cryptocurrency world. ![]()
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