What Is The Best Way To Store Crypto Coins?

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Cryptocurrency is the good investment opportunity as we know, the price growing up year by year, but one of the risk is how to keep it safe from hackers. Here is few ways to store your crypto coins with advantages and disadvantages based on my experience:

1. Hardware Wallet

This is a kind of cold wallet. In my opinion, this is the safest way to store your crypto coins. Hardware Wallet is a device like USB sticks which you can carry around on your person. Hardware Wallets devices are Ledger and Trezor.

Advantages:

• Stay safe and secure with malware
• Easy to setup and use
• Can recovery using seed phrase if you lose the device

Disadvantages:

• Limitation crypco coins based on firmware of device
• Have to spend money to buy Hardware Wallet

2. Desktop Wallet

This is a kind of hot wallet. The second way to store your crypto coin, this need to download wallet file setup from coin homepage website, then install it on your machine.

Advantages:

• No limit crypto coins
• Easy to setup and use
• Can recovery using backup file (you have to create it)

Disadvantages:

• Setup and use maybe a little bit hard for new and normal user
• Only access via your private computer which installed desktop wallet
• Susceptible to hacks if your machine gets infected with malware
• Some wallet not support all computer operators

3. Online Asset Exchange

This is a kind of hot wallet. You can save your coins on asset exchange, read my article for Top 5 Best Cryptocurrency Exchange Platforms in 2018 to find the best exchange platform for you.

Advantages:

• Easily accessed from anywhere
• Some asset exchange support trading mobile app
• Easily buy/sell coins
• Don't need to upgrade desktop wallet when crypto coin source update

Disadvantages:

• Vulnerable to potential hacking for your information: account, password, personal info...
• Asset exchange lose coins in hacking attack

4. Paper Wallet

This is a kind of cold wallet. You can save your coins on paper wallet by simple print wallet address and secret key and save it.

Advantages:

• Safe way
• Easily accessed from anywhere

Disadvantages:

• Requires a bit more advanced understanding of how digital currencies work
• Limitation crypco coins

Thanks for your reading and hope this help!