There are also tailored physical solutions for safekeeping coins, known as hardware wallets. These are simply data storage devices that are designed specifically for this task and they usually look like a USB stick but with a small display on them. Most hardware wallets include extra security features and support holding multiple types of coins simultaneously.
When you want to buy one of these devices, the Bitcoin.com Store’s hardware section offers a variety of deals on hardware wallets such as the popular Ledger Nano S and Keepkey.
If you want to store your coins offline and don’t need something as fancy as a hardware wallet, you can get a paper wallet for the unbeatable price of $0. As the name suggests these are just private keys printed out on a piece of paper, however, this does not mean they are any less secure. Paper has no USB ports and no wifi etc, so it is unhackble remotely and will keep your coins frozen until the time you want to use them.
There are many cryptocurrency paper wallet generators you can find for any type of cryptocurrency you want – just verify the source you choose is one that can be trusted. For example, Bitcoin.com offers a very popular paper wallet generator for Bitcoin Cash (BCH) and you can even download the software to run offline.
When you want to check up on the paper wallet for balance and transfers, all you have to do is to enter the public key into a blockchain explorer. This can be done with any explorer for your selected cryptocurrency, such as our BCH block explorer.
With any option you choose to keep your funds offline, remember to store the wallet in a safe place, possibly also laminated or inside a ziplock bag to prevent water damage, where you won’t forget it or throw it away by mistake. Treat it just as you would a physical briefcase full of dollars.
What do you think about keeping your cryptocurrency in cold storage? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post How to Cold Store Your Cryptocurrency for Safekeeping appeared first on Bitcoin News.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!