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Comment by yosefjaved1

Cold storage/cold wallet, which stores your crypto offline. Through this way the digital wallet is stored on a platform not connected to the internet, thereby protecting the wallet from unauthorized access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to.

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

parent yosefjaved1 4 years ago

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