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Storing your crypto safely with peace of mind!

Storing your crypto safely with peace of mind!

With billions worth of stolen digital assets in the blockchain alone last year, many big fish are opting to store their billions in guarded vaults (link). Most people may not have funds for the scrutiny of a vault, most may be new to the crypto scene or just want extensive information on how to secure their crypto and have a peaceful night of sleep. Let's face it, while transacting in bitcoin is a no brainer without having to worry about a chargeback, there is still the nuisance of someone "magically" stumbling upon your 12 or 24 word mnemonic seed key allowing them to restore your hard earned coins from your wallet. Many people forget that these phrases are meant to be stored offline, not as a picture saved on your computer as a sitting duck. And while sweeping a private key is always another point of failure for an easy loss on crypto, the most sound way may be rather unfamiliar to the general public. Let's go over a few storage options besides the usual exchanges as we all remember what happened during the MtGox Heist (link).

Hardware Wallets for "Cold" Offline Storage

Even hardware wallets have their faults, with Trezor's hardware wallet having flaws found by Kraken's security (link), to Ledger's website being infiltrated (link) as a whole making the location of those wallet holders publicly known. Now that is not in anyone's best interest, with the announcement of cloud services to store digital assets, it's become a growing concern among many. If you think 2-Factor authentication will keep you secure, tell that to the numerous coinbase users who woke up to finding their bitcoin spent. Don't fall for some crypto wallets advertising security without doing your research.

With the Ellipal Titan (link) providing an "Air gapped" solution which means the device never connects physically to a device, thus requiring users to scan secure QR codes to get their funds moved around, 

Another very ideal solution that called out the Trezor for not exactly being the safe to physical attacks (keep in mind any wallet relying on a mnemonic seed key or a single private key is not fully secure anyways!) is the CoolWallet (link), boasting it's 2 PLUS 1 Factor authentication system which requires you to physically press a button on their hardware wallet to confirm a transaction.

With Curv (link) being acquired by Paypal, we can make a pretty good intuitive discernment on this being one of the better options for coin storage usurping even offline storage. As always, make sure you are rotating your private keys (read more on doing this here) for storage or that your wallet does it by default with time lock transactions.

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