Cryptocurrency is a digital asset designed to work as a medium of exchange. Cryptocurrency uses cryptography to secure transactions, control the creation of additional units, and verify the transfer of assets. The first cryptocurrency to gain widespread adoption was Bitcoin in 2009. Since then, numerous other cryptocurrencies have been created that offer different features and benefits than Bitcoin. Storing your cryptocurrency on a computer or smartphone makes sense, but it’s also risky. If you get hacked, or the device you store it on gets lost or stolen, you lose your currency. The best way to protect your cryptocurrencies is by keeping them in cold storage. That is, storing them offline and away from any other device that can connect to the internet (like a laptop). Cold storage is essential for those who hold large amounts of digital currency and want to protect their investment if something goes wrong. Here are some things to think about when considering how best to protect yourself from the threat of hacking. The ideal storage solution should be:
- Capable of holding multiple types of currencies
- Provide security that no one but you can access
- Have a standard backup feature that allows for quick recovery of your funds.
Read more :0 Cryptocurrency cold storage explained.
