Anyone have recommendations on storing crypto outside of coinbase?
I’ve used them to buy a small amount and they make it pretty easy, but concerned that they are not necessarily the best place to store once acquired.
TIA
I’ve used them to buy a small amount and they make it pretty easy, but concerned that they are not necessarily the best place to store once acquired.
TIA
One way to do cold storage is through a hardware wallet like Ledger or TREZOR. This is probably the best option in terms of convenience and ease of use.
A hardware wallet uses an offline device or smartcard to generate private keys offline. The Ledger USB Wallet is an example of a hardware wallet that uses a smartcard to secure private keys. The device looks and functions like a USB drive; a computer and a Chrome-based app are required to store the private keys offline. You can use anything from a standard USB storage drive to an advanced device with a battery, Bluetooth, software, and other features.
Other methods are sound wallets, paper wallets, offline software wallets, or deep cold storage.
You can read more about them here - https://www.investopedia.com/terms/c/cold-storage.asp
A lot of people get way into the security around storing their wallets and jump through crazy hoops.
Personally I don't hold much at any given time and just store it as I do any other file I care about. Doesn't have to be crazy.
I personally buy from coinbase and transfer it to my wallet and let it stay there.