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Author: Admin | 2025-04-28
Its security tools — 2FA, automated logout, local key storage — to prevent unauthorized access to your account. Wallet services Many exchanges host their own wallets so users can start trading as soon as they open an account. This is the most vulnerable type of crypto wallet, but due to its practicality and general ease of use, some traders rely solely on them to store and trade their crypto. It’s important to enable cybersecurity tools like 2FA and Google authentication to secure this type of wallet. Better yet, consider getting an independent wallet — online or offline — to store any crypto you’re not actively trading. Offline wallets Offline crypto wallets, also known as cold storage, are inherently more secure than other types of wallets because they are physical objects that are not connected to the Internet at all times. A hacker cannot interact with a cold wallet digitally, but a thief can still steal it and use it to access your crypto. Keep your offline wallet in a safe location that only you know about to ensure this doesn’t happen. If you’re going to carry it around, make sure it’s fastened to you at all times so that thieves can’t snatch it. Hardware wallets Hardware wallets are a type of offline wallet that take the form of small plug-in devices, such as USBs. Since the only way to access your crypto is through direct use of these devices, the only way to steal your crypto is by getting your hands on the device itself. Losing your device is also a considerable risk when using this type of wallet. To avoid losing access to your crypto, backup your private key to another storage device and follow the general suggestions for offline wallets: keep it in a safe location and secure it onto your body when carrying it around. Paper wallets Believe it or not, some people keep their Bitcoin on sheets of paper. Paper “wallets” contain the private key to your crypto or a QR code with said key. Like hardware wallets, paper wallets can be physically stolen to gain access to your crypto. Therefore, the same methods for securing hardware wallets apply here: keep your paper wallets in a secure location and ensure they can’t be taken from you when moving them around. Multisignature wallets Multisignature wallets allow users to set up an authentication system that requires more than
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