If you’re new to the crypto scene you might have heard about people moving their assets into cold storage or cold wallets but were unsure exactly what this entails. Simply put, it means storing your crypto offline to reduce access to hackers. Here’s how you can easily freeze your coins for safekeeping.
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Simple Hardware Solutions
To move your assets into cold storage using a hardware solution, the easiest way is just to keep the private key to your digital wallet saved as a file on a USB stick. This way the only way to steal your coins is with the USB wallet in hand, as long as you’ve made sure there is no other copy of the private key left on any device connected to the internet of course.
There are also tailored physical solutions for safekeeping coins, known as hardware wallets. These are simply data storage devices that are designed specifically for this task and they usually look like a USB stick but with a small display on them. Most hardware wallets include extra…