Cryptos are digital funds that guard themselves with encryption, operating independently from any central institution. With blockchain handling and confirming transactions with complete transparency and decentralization, crypto coins can be exchanged directly between peers without the need for third-party brokers or middlemen.
All operations with digital coins occur on crypto trading services. An example is Binance, Huobi, and WhiteBIT exchanges. They are centralized and provide a safe way to protect your investments and conversion within crypto and fiat currencies. For instance, when you need BTC USDT exchange, you may easily do it by adding funds to your WhiteBIT wallet and opening an order for buying USDT coins for your bitcoins.
The way you store your assets is no less important than the safety of your trades. Let’s discuss how to store cryptocurrency.
Where Can I Store My Crypto?
Crypto can be stored and sent with the help of digital purses, which are software applications. There exist several varieties of this storage, such as:
- Hardware storage. Crypto security is greatly enhanced with these physical devices, which are similar to a USB drive and keep your crypto assets offline.
- Software storage. Digital purses are available in different forms, for example, desktop, mobile, and web-based wallets. Installing one of these on your computer or device is a straightforward process.
- Paper wallets. Your assets will be securely stored in a physical paper wallet, which is printed with both your public and private keys. These are necessary to access and send your funds.
When selecting the perfect wallet, it’s important to keep in mind safety, usability, and the sort of assets that you plan on storing. Additionally, safeguarding your private keys is of utmost importance – they work as gateways to access your digital currency and must not be disclosed to others.
What is the Most Secure Way to Store Bitcoin?
Depending on your goal and trading style, you should pick among the wallets we have mentioned above. If you are an active trader and aim to proceed with trades daily, better choose online storage of some reliable platform with a good reputation. WhiteBIT is a secure and user-friendly multi-currency wallet that supports a wide range of cryptos, with low fees and 24/7 customer support. It is a convenient option for managing your holdings, with increased security features and instant deposits and withdrawals.
If you want to buy Bitcoins and forget about them until the next bull run, you better pick offline storage.