What are the different ways to store crypto safely?

Published on
September 26, 2022
Published by
Mathew Fernandez

When setting anything up regarding cryptocurrency one of the top emails that you can use is protonmail.com. It is one of the most secure emails on the planet. It has 2-factor authentication and its paid version has higher levels of security, which also offer VPN support. It is also built on top of blockchain technology.

There are a couple different ways in which you can safely store your crypto. There are many wallets out there and there are two different types; hot wallets and cold wallets.

Hot Wallet:
• A hot wallet is connected to the internet and can be accessed at any time.
• Hot wallets include all online cloud wallets, most mobile and software wallets and exchanges.
• Hot wallets are best for trading.

Examples Include:

Cloud wallets:
• This is where your funds can be accessed from any device or location. They are super convenient as they are quickly accessible. Popular ones most people use are coinbase, metamask, and a couple others.
• A safer version of these wallets is non-custodial online wallets which you can access through the web space and have apps that you can download as well and your private keys are safe as the server does not have access to it. Most cloud wallets are part of an exchange which means you can trade your coins safely.

Software wallets:
• These are wallets that are downloaded and installed on your device.
• It allows you to easily manage your funds.
• They are highly secure and safe.

Cold Wallet:
• A cold wallet is not connected to the internet because your funds are actually stored offline.
• Cold wallets include hardware wallets, physical paper wallets, USB, and data storage devices
• Cold wallets are best for long term crypto holds.

Examples Include:

Hardware Wallets such as a ledger.


• A ledger is similar in comparison to a USB drive however, your cryptocurrency is not actually stored in this device. This device is used as a remote that allows you to access your cryptocurrency funds being stored within the ledger service. If this device is ever lost or stolen your cryptocurrency is not gone. You can always purchase another one and restore the new device with the old devices information.

• Access to this device requires a passcode you set up during the initial set up process.• When setting up this device you will be asked a series of questions at the beginning and it will ask if you’re starting a new wallet or restoring a previous wallet. If you’re restoring you must enter those keys entered when you set it up the first time in order to successfully restore the information.• When purchasing a ledger you must go directly to the source at ledger.com. Never purchase from a third party site. When setting this up make sure to use proton mail for the email.