You may have heard this before: you should never keep your crypto on an exchange. If you want to be a good crypto investor, then it’s likely you’re already aware that keeping your crypto off the internet is very important. The more transactions and transactions involved, the more opportunities there are for cybercriminals to hack into accounts and steal funds.
That said, just because a wallet is offline does not mean that it is 100% secure; there are still ways for hackers to access funds (more on that below). But offline wallets are much safer than online ones because they limit exposure of private keys by default.
The threat of theft
The threat of theft is real, and it can happen to anyone. There was a time when the best way to keep your money safe from thieves was by hiding it under your mattress. These days, you have a lot more options for storing your money and assets offline, but there are still some risks involved with all of them.
If you’ve been keeping up with the news lately (and if not then get started now), you’ll know that cryptosecurity has been in the spotlight lately thanks to numerous scams and thefts being reported around the world. Besides these high-profile cases, there are plenty of other forms of theft that happen every day—and they’re often much harder to spot than most people realize.
Here’s how we recommend protecting yourself against these types of threats:
Keeping your investment safe
Keep your private keys offline.
If a hacker gets a hold of your private key, they can use it to steal all of your crypto. Keeping the private keys safe is the most important thing you can do to protect yourself from hackers.
Keep passwords and recovery phrases safe. These are also known as “passwords” but they vary from traditional passwords in that they are long and complex sequences of letters, numbers and symbols that represent something very specific about you (like an old teacher’s last name). If someone steals one of these things, they could access all of the cryptocurrency in your wallet and take it for themselves—or worse yet, use it for ransom!
Keep your device safe from theft or damage by storing it somewhere secure like a home safe or bank deposit box if possible; keep dry since water damage will kill electronics quickly; keep cool since heat will fry circuits inside out faster than anything else–but don’t freeze your hardware wallet either because this could also cause problems with its delicate internal components over time; finally make sure not everyone has access to where it’s hidden away if possible so nobody knows where exactly where everything’s kept at all times.”
Features to look for in a hardware wallet
When you’re looking for a hardware wallet, the most important factors to consider are security and trust. You want to make sure that your device is secure and has good reviews, so that you can rest assured that your crypto is safe on it.
Here are some things you should look for when choosing a hardware wallet:
A secure device
A long track record of being in business
Good reviews from people who have used it before (and continue using it)
Some wallets we recommend!
Hardware wallets are a much safer way to store cryptocurrencies than software apps.
If you’re going to store your crypto, then it’s best to keep it offline in a hardware wallet. Why? Let me count the ways:
Hardware wallets are more secure than software apps. Software wallets run on computers that could be vulnerable to viruses and malware attacks, making them easier for hackers to break into. Plus, there’s no need for a physical connection between the computer and your actual coins (which means no risk of leaving them behind).
Hardware wallets are safer because they’re offline. When your hardware wallet is disconnected from the internet, there’s virtually no chance of being hacked by remote access or compromised. The only chance a criminal has is if they can actually get the physical device from you personally.
Hardware wallets are less likely than software apps to get lost or damaged; therefore they provide better recovery options if something goes wrong during those rare instances where someone needs help recovering their digital assets after losing access due either intentional destruction or accidental damage caused by something like flooding during hurricanes season!
Hope you’ve enjoyed this blog post. Now go get yourself a hardware wallet so you can start making good decisions to protect your crypto!