Do You Need a Wallet to Store Your Crypto?

Whether you store money, important and precious things, or cryptocurrencies, you need a safe place for it. Just like money, crypto-currencies also need a wallet, in this case, its software designed just for that, but how do you know which one is the safest?

The software is multifunctional, which means that it works in such a way that, in addition to your bitcoins, you can store more important data on it, such as passwords, numbers of your cards, bank accounts, etc.

Given that there is no room for error in this system, just one wrong step can lead us to the fact that our funds are forever trapped and that we will never be able to dispose of them again. For this reason, you need a pocketbook to store your funds, and for that, there are various ways you can do it. There are many types of so-called wallets, and we’ll list just a few of them:

  1. Web wallets – in this way, your funds are 100% secured on the Internet, and you can access them from any computer/device.
  2. ECD Wallet is a web wallet, which, in addition to its safety and security, is very easy to use, and also allows you to make transactions that are expeditious with reduced costs of transferring bitcoins from one account to another.
  3. The hardware wallet is also completely safe and perhaps one of the best ways to secure your cryptocurrencies, because it allows all data to be fully protected, and it is resistant to hacker attacks. Also, in case of loss or deletion of data, there is a possibility to make a copy so that in no way would you lose your money in this form.

Source: medium.com

In addition to these three ways, which are considered the safest for storing your cryptocurrencies, there are also desktop wallets, paper wallets, and mobile wallets. Some people use their funds in stock markets and leave them there, thinking that this is the easiest and simplest way to do it. However, it is one of the most insecure ways of storing your crypto-currencies, because stock exchanges are prone to hacker attacks, in which case you can easily be left with nothing.

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If you are already in the crypto world, it is recommended to find a wallet that will store your bitcoins or any other currencies. But it is also recommended that you carefully choose which currency you will choose to be yours, and you can do that by researching every item related to crypto-currencies, their possibilities and their storage before you sail into those waters.

So, as we mentioned before, according to all the research, the best and safest way to keep your crypto in a wallet, and the best way for that is a hardware wallet. With it, it is almost impossible for your funds to be misused.

Source: portaldobitcoin.uol.com.br

Many users of this so-called mining method recommend ESCrypto (Era Swap), if you want to buy some crypto, this is one of the better options for investing. In addition to its basic function, many users recommend ES Crypto as one of the best pocketbook for keeping and storing cryptocurrencies. In addition to its security function, it also has a lot of good sides, and some of them are the ones that allow you to make 500 transactions in 5 seconds, and the transaction costs are 98% cheaper than all the others. And in addition to all the advantages mentioned above for this way of storing your cryptocurrencies, you can also choose the segments that interest you the most, such as social networks, freelancer markets, fitness or recreational centres as well as many other interesting things, to follow the events and to direct your funds in the best possible way, i.e., buy some of the proposed options. Also, a very good fact about this way of keeping your funds is that if you are up-to-date enough when using this type of purse, you can get some discounts and benefits as well as rewards where your cryptocurrency portfolio will be improved. Accordingly, researchers have shown that this is one of the best wallets for keeping your money in this form, you also have many options where you can invest your money, and it all depends on your up-to-dateness.

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Of course, if you still decide to store your crypto in a wallet, below we will provide you with some of the options for managing your wallet with maximum ease and security:

  • If you use the wallet on the software, it is necessary to update it often and not to use an old version of it;
  • Turn on two-factor authentication and make sure that your wallet has exactly that protection system;
  • Do not share your security key with anyone, just as you would not share your social security number or credit card information with anyone;
  • Update your password and profile data regularly;
  • Do not use the same password for this as you do for e-mail or social networks
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If in any segment you are not sure that you would meet all the items on which the security of your cryptocurrencies depends in the chosen wallet, there are other ways through which you do not have to use the wallet at all, but you can store the funds differently. As we mentioned above, we will return to the hardware way of storing currencies. Consequently, it is not connected to the Internet at all, so it is more likely that your currencies will be safe with maximum protection from hacker attacks. So, you can keep your currencies like that, which are so-called cold wallets. But if you don’t want to have your wallet for that, one of the suggestions is to keep the currencies on the exchange where you bought them, because in addition to a certain type of security, as a beginner you also get some bonuses that can be of great importance for you as a beginner, plus most exchanges cover a certain amount of costs in the event of a cyber-attack. Whatever method you choose, you just need to be careful in all of this.