How to Guides

Crypto wallet security is extremely important. From losing your log-in details and backup data, to getting hacked – crypto can cause serious headaches if you don’t take due care. If you buy a hardware wallet, be sure it’s from an official source and the packaging is untampered with. With privacy keys, store them securely offline and don’t carry them around with you. Tip three, is to always use 2-factor authentication with desktop, mobile and hot wallets. If you’re careful with your digital currency data and use quality products, crypto is very safe and secure.

There are many high quality crypto wallets on the market. Firstly, your choice depends on the type of wallet you’re looking for to suit your crypto needs. For example, some of the top hard wallets, include Trezor and Ledger Nano S, top online wallets include Coinbase, Crypto.com and Binance, top desktop wallets include  Bitcoin Core, Greengrass, and Atomic, while good mobile picks may be Wirex, Mycelium, and Edge.

Hot crypto wallets refer to wallets that are online and used for live transactions – such as active trading or transactions (e.g. If you deposit into a crypto account and buy BTC, your funds will be stored in a hot wallet on the exchange). It’s not advisable to use hot wallets to HODL your crypto, since they’re potentially more exposed to hacking and tech issues.

Web wallets are non-custodial storage mediums, offered by most crypto exchanges – such as a Coinbase wallet that stores your assets digitally online in your account. These wallets are good for protecting against hardware issues and physical phone/wallet thefts, but may be more at risk from hacking.

Mobile wallets are apps that are created to hold and transact crypto currencies. The best exchanges offer apps that function in a very similar way, to standalone mobile crypto apps.

Paper wallets are old school, not safe and very unpopular, so we don’t recommend them. But you can read more about them here on wiki – Read more

Hardware crypto wallets (cold storage) are devices that enable you to store your crypto, while not being connected to the internet. Shaped like carbs or pen drives, hard crypto wallets, can be plugged into a computer or compatible device, to instantly transact crypto in a safe and very secure way.

Crypto is as safe as the organisation who makes it and the individual who stores it. Never buy cryptocurrencies (alt coins) you have not done research on. If it seems too good to be true it probably is. Always look at governance of the ledger or exchange you are buying from to see how the organisation plans to manage their coin storage. Storing crypto is also your responsibility, doing it safely requires a hard wallet and keeping your private keys safe.