You may be one of those bitcoin holders who are still looking for the best storage method. The most important question of all the crypto holders is no doubt how to secure it. The answer to this question is not too complicated and neither the process is. The basic need is to understand and knowledge of the security of BTC. After reading this guide you will be able to keep your bitcoins away from scammers. You will be able to create a cold storage wallet where you will keep your digital currency for a long time.
Different online platforms and service providers are trying to convince the bitcoin holder that they have the best security plan for your holding. But, the basic question is: are they legit? Can somebody in cyber secure your hard-earned money? Can you trust someone by reading a couple of articles about their product? A lot of questions arise, but the answer is still unknown. Some online storage methods may be legit and provide the service that they promised. The issue here is are they really trusted? They may try their best to keep your token secure but a smarter guy can disturb their security. All the skilled people are not your guards.
The valid methods for secure bitcoin are as follows you can trust these methods. The security levels of these methods are different but all mentioned techniques are legit and there is no other way to store cryptocurrency online or offline.
This method of bitcoin is not new but most people ignored it when it was in need. At the time when bitcoin was cheap people use to buy it and keep that coins in different online wallets. These all wallets are not legit. some people lose their coins when the price of BTC was at its peak. People including me chose the wrong platform to keep crypto for a long time, and when the time comes we have found nothing in our hot wallets. However, crypto was new at that age and all the people except a few were not experts. So we have done mistakes. You should clear your mind if you are looking for a wallet to store bitcoin for the long term the best-secured method is Bitcoin Cold Storage.
The cold storage method is based on bitcoin paper wallet, Hardware wallets, Deep cold storage, and Sound Wallets for BTC. Paper wallet for bitcoin is a technique in which users can print a private key on a sheet of paper and keep it safe to withdraw their coins when needed, meanwhile Deep cold storage is something about the security of the paper which is printed with private keys of Cold storage wallet. The best example of deep cold storage of cryptocurrency is keeping a BTC paper wallet in a bank locker. The hardware wallet is something different from the other two. Hardware wallets are physical devices specially designed to keep cryptocurrency. these devices are highly secured.
Hot storage of bitcoin refers to store cryptocurrency in the online platform. People who use bitcoin on daily basis are advised to keep their coins in any secured hot wallet. The best hot wallet for beginners is Exodus. it is designed for beginners as its interface is much simple than other wallets. You can easily exchange this your digital currency into fiat with this wallet. Moreover, this wallet has easy navigations through that you can transfer your coins to any other online or offline storage wallet or exchange. If you are a newbie in this market you should try this wallet for use bitcoins on daily basis.
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The next hot wallet on our list is Electrum. This wallet favors advanced bitcoin users. People who are using bitcoin for many years and have an understanding of the use, store, and buy and sell of BTC can use this wallet without any issue. The interface of this hot wallet is complicated that why I would suggest not use this wallet but Exodus is the best option. Are you willing to control your crypto through a mobile phone? we know that everyone has a mobile in their hand and some of them are thinking of what if they can use and store BTC through mobile phone. The good news is yes you can do it. A wallet that is known as Mycelium is designed to keep track of BTC through your mobile phone. For mobile users, this is the only and best option.
Crypto exchanges are not only to exchange bitcoin but some big crypto exchange forums offer you a secured wallet. In that wallet, you can hold your cryptocurrency. some platforms are limited to bitcoin while many exchanges offer you store most of the well-known cryptocurrencies. You can say that crypto exchange wallets fall in the online wallets category. While choosing a crypto wallet it's very important to research before trying. Some exchanges are working to snatch your coin rather than protecting it. I hope this guide will help you keep your bitcoin and other cryptocurrencies safe in storage. Good Day! I will back with another joyful help.