For several months, we’ve seen the increasing popularity of cryptocurrencies. Indeed, more and more people are choosing to invest in Bitcoin, Ethereum or even Cardano.
Still, before thinking about investing in the financial market, spending them at an online casino — while playing at poker or blackjack tables, on slot machines, etc., or when you go shopping, for example — you need to think about storing them safely.
To do this, we listed some of the different types of wallets available to store your cryptos without the fear of losing everything you’ve invested in.
The Web Wallet
The Web Wallet is a personal space allocated on a platform specialized in crypto transactions. Despite this, leaving your currencies on this type of web address is not the most secure method. Nevertheless, the possibility of accessing your Bitcoins directly from any computer (or tablet) with your login and password is an undeniable advantage. So Choose your web wallet carefully!
The Hot Wallet
It consists of storing your crypto directly on the software installed on your computer; the security provided by a Hot Wallet is equivalent to Web Wallet; the storage space linked to the internet connection can expose you to possible risks.
Still, with the same comparison, Hot Wallet will not allow you to access your data from another device or hardware without a new installation of the software. There are also Hot Wallets on mobile smartphones and tablets.
The Hardware Wallet
The Hardware Wallet is a physical wallet. Obviously, it will be far from the classic wallet but will be presented in hardware. The latest Hardware Wallet marketed are presented in the form of a USB key.
This method is perfect for securing all of your cryptocurrencies. You must always make sure to store your device in a safe place. Unlike the other methods mentioned above, the loss of your hardware wallet means losing all your investments.
The Paper Wallet
Did you know that you can also store and secure your crypto with two simple sheets? To understand the principle, this method consists of using two flash codes (or QR codes). One of them will allow you to store new currencies as soon as you get them. The other one will be used as a “good withdrawal” to resell or exchange your goods.
So simple and effective, this technique is not frequently used but has the merit of going totally unnoticed in your classic wallet, for example.
Improve the security
To enforce the security of your wallets, you can define the allowed IP addresses and opt for a 2-factor identification. Don’t forget to have an updated antivirus on your device. With just a few clicks, you’ll be much better protected from hackers!