Reference no: EM133049387

It's common to hear about cryptocurrency exchanges being hacked. Many people have lost their cryptocurrency holdings. People are led to believe that cryptocurrency is not safe as a result of such incidents. However, cryptocurrency, in my opinion, is completely safe and secure. All we have to do now is store it properly.

The most important aspect of cryptocurrency is the private key; we must look for wallets that allow us to keep our private keys secure. So we must keep our crypto somewhere where we can access our private key, and that we write down our private key on a piece of paper and don't share it with anyone. The first option is to use a paper wallet. Paper wallets are simply Bitcoin private keys printed on a piece of paper and paper wallets are an efficient way of storing bitcoins by private keys offline, and we get to keep our private keys with our paper wallets. Because the keys are generated offline and never stored online, these wallets are also known as cold storage. We can also use wallets like Coinbase or Blockchain to store sensitive information like passwords, private keys, and even emails, ensuring our security and privacy. The third and the best way is to store it on hardware in my point of view. Hardware wallets are one of the safest ways to store cryptocurrency investments. And in this type of wallet, I own a device and all my cryptocurrencies are stored offline. To access the cryptocurrencies stored in it, I have to connect computer and then I have to follow a procedure.

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