Features Overview

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Choose your wallet

Depending on your cryptocurrency, you have several options where to store them. For some it is possible to store them on the exchange you bought them (the wallet is in your account), store them on your mobile phone or on your computer, store them on an offline hard wallet or a paper wallet. The storing options have different advantages and disadvantages.

  1. Online storage:
    • Quick accessibility, no further work needed
    • Very low security (hacks and shut downs of exchange)
  2. Mobile phone:
    • Easy usage for day to day payment
    • Low security (hacks)
  3. PC wallet:
    • Needs effort to download wallet, set it up and let it synchronize
    • A lot of different wallets for specific cryptocurrencies
    • Can be hacked (keylock and screen shot)
    • Even if computer shuts down, your coins are still accessible
  4. Offline hard wallet:
    • Cost about 60 - 200 USD
    • Needs effort to understand and use
    • Doesn't support all cryptocurrencies
    • Most secure way to store cryptocurrencies and therefore highly recommended.
  5. Paper wallet:
    • Needs some effort to create (offline computer).
    • Is on a piece of paper and therefore unhackable.

Secure your key

The most important thing to do is to store your private key. Your private key is a code of 64 digits which is encrypted information that will give you access to your cryptocurrencies. This is the ONLY possibility to have access to them. Whoever has this key, can access the cryptocurrencies. 

Make sure only people you totally trust have access to the key or parts of the key. NEVER share this key with anyone! Don't store them online, don't take pictures (unless it is an analog camera).

Write them down and store them in a secure, safe place (vault, hidden in closet, etc.). Make sure you have a backup in case something happens (house burns down).

The best you can do: MEMORIZE IT! 


Feature 3

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