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Where to store your cryptos: the complete guide to protect your cryptocurrencies
safer way to store your cryptocurrencies trading frequency , the amount of your funds and your risk tolerance. Whether you are trying to store your cryptocurrencies in the long term or that you carry out transactions , there are solutions adapted to each use.
This guide explains how to store its cryptocurrencies , what are the different types of wallet , the advantages of each option, and especially how to secure your cryptos .
Table of contents
What is a crypto portfolio?
A wallet is a digital portfolio that you to store cryptocurrencies such as bitcoin . Unlike a bank account, a portfolio does not directly keep your assets. It contains the private keys that give access to your funds on blockchains.
How a wallet works
Each crypto portfolio is linked to a public key for each blockchain (your Bitcoin address , for example), and to a single private key in a wallet , known only of you. This key is essential to sign transactions and secure your cryptocurrencies . Without it, it is impossible to spend your funds.
The different types of wallets to store its cryptocurrencies
There are the different types of wallets according to the level of connectivity to the Internet, the physical support and the level of safety sought. Here are the different types of wallet :
- Hardware Wallet (or cold wallet )
- Hot wallet
cold wallet : the most secure solution to store
A cold wallet is an offline wallet , not connected to the Internet . This is the most secure solution to store digital assets, as it greatly reduces the risk of hacking .
It is often a physical object, called a wallet hardware . The best known models are the ledger Nano X and the Plus ledger . They look like USB keys and allow cryptocurrency to store more securely .
- Your cryptocurrencies remain offline
- The private key is never exposed to the internet
- Possible use via a secure mobile app
- Compatible with most cryptos , including Bitcoin
Hot wallet : Practical but exposed
Hot hot wallet is a portfolio connected to the Internet , often used for transactions or daily trading This is an easy but less reassuring long -term solution.
Examples:
- Wallet online like Metamask , Trust Wallet or Exodus
- Mobile applications or browser extensions
To learn how to decentralize your funds to a hot wallet, we offer our free guide to learn how to use a decentralized portfolio, step by step, supporting screenshots.
What you will learn:
✔ Master a decentralized portfolio ( DEFI ) - Learn to manage your assets without intermediary and to interact directly with the blockchain.
✔ Perform transactions via a decentralized wallet - a practical guide to exchange cryptos independently.
✔ Explore decentralized finance ( DEFI ) - Discover advanced concepts such as staking and NFT , and optimize your investment strategies.
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Where to store your cryptos?
So where to store your digital assets? Here is a comparison of the main storage solutions according to your needs:
- Active trading → Hot wallet
- Long term → C Old Wallet (also called H Ardware Wallet)
When you buy cryptocurrencies on a centralized exchange, you do not really hold your funds. You have entrusted them to the platform that manages your cryptocurrencies for you. This can go bankrupt, decide to freeze your funds or be a piracy. Several centralized exchanges such as FTX and MT.GOX collapsed and Bybit was the victim of a hack of $ 1.5 billion for example.
To store its cryptocurrencies reliably on the long term, we recommend transferring your funds to a cold wallet as soon as possible, especially for important amounts.
What are the best wallets to secure your cryptocurrencies?
Two major references exist: Ledger and Trezor . Ledger (Nano S Plus, Nano X, Stax and Flex) is distinguished by its Element chip, certified for maximum security, and by taking charge of a very wide range of cryptocurrencies via the Ledger Live application as well as integrated staking and communication solutions facilitated with decentralized applications. Knowing which Ledger chooses depends on the desired features (Bluetooth, screen, autonomy etc.). For more details on the technical characteristics of Ledger , we invite you to read our Ledger models .
Trezor ( Trezor One, Trezor Model T, SAFE 3/5) is focusing on transparency: its open source code is auditable, and recent models also incorporate a Element Secure chip. Our comparison between Ledger and Trezor shows that Ledger offers more premium options and a more complete interface, while Trezor offers an open source philosophy and a certain simplicity of use. Both solutions offer high -level security to protect your A ltc OOS. For more details, we invite you to consult our comparison between Ledger and Trezor .
Can we store your cryptocurrencies on a platform?
Yes, it is possible to leave them on exchanges like Binance, but that presents risks:
- Your private keys do not belong to you
- If the platform goes bankrupt, your funds can be lost
- Permanent exhibition for hacking attacks
Storing cryptos on a platform may be suitable in the short term, but it is always better to store them in a portfolio whose private key you control.
How to secure your cryptocurrencies?
Here are the good practices to secure its cryptocurrencies:
- Use a cold wallet for large funds
- Never store your private key on a device connected to the Internet
- Avoid backup copies on the cloud
- Keep your recovery words in several physical places
If you are looking for how to secure its cryptos effectively, keep in mind that a good offline wallet is the basis. To secure its bitcoins or cryptocurrencies in general, avoid trusting third parties.
The security requirements of your cryptos
Users must adopt a cryptos storage strategy adapted to their habits. Here are the security requirements to be observed:
- Double authentication on all platforms
- Physical backup of private keys (on paper or with more sophisticated solutions such as Ledgercryptotag)
- Choice of a recognized and audited crypto wallet
- Secure Wi-Fi networks during access
FAQ: frequent questions about storage of cryptocurrencies
How to store your cryptocurrencies easily?
For beginners, the simplest option is to go through a hot wallet or mobile application, but your funds are more at risk. As soon as you have significant amounts, orient yourself towards an offline wallet hardware.
What is the safest method of storing your funds?
A physical cold wallet like a ledger Nano X, a ledger Stax or a trezor Safe 5, for example, offers today the best more secure solution to store your digital assets.
Can we store crypto on a bank card?
No. Some cards allow you to pay with your Crypto funds and the application keeps your cryptos for you, but they do not allow your cryptocurrencies directly to the blockchain. You always have to go through a wallet.
Why not leave your cryptocurrencies on an exchange?
Because you don't have control. In case of bankruptcy, hacking or legal blocking, you lose everything. Better to keep them in a secure personal wallet.
Conclusion
Knowing how to store your cryptocurrencies safely is the first step towards responsible management of your digital assets.
A good portfolio, whether online wallet (hot wallet) or offline (cold wallet) is your best ally.
The safer solution to store your cryptocurrencies always remains the one you fully master.
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Noah
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
