Guide For Storing Your Cryptocurrency Safely

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Crypto World At Your Finger Tips!
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Guide For Storing Your Cryptocurrency Safely
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The trend of cryptocurrency came as a boom in the
corporate world in the contemporary era. More and
more people are now driven by the digital
currency. The best thing about these
cryptocurrencies is that they ended the
dependency of central authorities like company,
bank and government. But as it says, every
technology comes with risks too.
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• So even though cryptocurrencies have become a
  popular financial option still, they are not
  free from risks and can be misused. So today,
  Crypto Store brings you a guide for storing your
  cryptocurrency safely. It is a must-read for all
  those who use cryptocurrencies for making
  payments.
• It is good to have any cryptocurrencies like
  Bitcoin, Ethereum, Litecoin, Ripple, Dash, NEO,
  TRON, Monero and others. But the more it makes
  you feel excited, the more you must express your
  concern for their security also.
• Most importantly, it will also aware you about
  the risks involved in the crypto marketplace. But
  before that, let us give you a brief introduction
  about the crypto wallet.

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What Do You Understand By Crypto Wallet?

• You can understand crypto wallet as a software
  technology, which is made for storing the private
  and public keys, monitoring the balance and also
  getting connected to multiple blockchains.
• Although there are many cryptocurrencies wallets,
  still, it makes a difference between them in
  terms of hot or cold. Now the term hot or cold
  must have dragged your attention as to what they
  mean.
• A hot wallet is one which is internet-connected
  and is accessible at any time. On the other side,
  a cold wallet is just opposite as it is
  unconnected with the internet but enables the
  user to store his/her funds online.

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• Another difference to know between the wallets is
  that hot wallets consist almost all online cloud
  wallets, most of them are mobile, exchanges and
  software wallets. Whereas cold wallets consist of
  hardware wallets, USB, physical bitcoins, offline
  paper wallets and data storage devices also. Each
  wallet is special in its own way, which is why
  people holding cryptocurrencies make the best use
  of them. Hot wallets are considered much
  convenient for trading, whereas cold wallets are
  beneficial for holding your crypto assets for the
  long term.

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3 Useful Tips For Storing Your Cryptocurrencies
Safely

• Now let's come back to our main topic, which is
  about storing your cryptocurrencies safely. To
  understand it, you need to follow some tips which
  are given below. These 3 tips are best to guide
  you about protecting your cryptocurrencies.

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Keeping The Funds Separated
Always prefer to keep your crypto assets in
multiple places. The better solution for this is
to have more than one cold storage, which is the
ideal way for long-term holdings. Besides this,
you must also prefer to keep one hot wallet for
handy transactions and trading. This is the one
of the best ways for storing your
cryptocurrencies safely.
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Checking The Crypto Addresses Twice

• Now here you need to be extra careful as there
  are malicious programs, that are perfect in
  editing and pasting the wrong address, whenever
  you send a transaction. You need to be aware of
  the fact that an attacker is familiar with the
  new address. So better stay safe than to repent.
• Be Careful About Phishing Sites
• Be very extra careful while connecting to an
  online wallet or exchange. Better confirm about
  logging into the right address. We are telling
  this because many fake websites are efficient in
  copying exchanges to steal your login data.
  Always check the authenticity of the website
  address.

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Conclusion Apart from that, youve got to know
much about the concept of a crypto wallet,
including hot and cold wallets, and their uses.
In general, if you are using any technology,
especially if it is related to your finance, then
it is advised to keep your eyes open and protect
your cryptocurrency from frauds by malicious
sites and hackers. Sources https//www.store.cryp
toknowmics.com/
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