At Taking Bigger Steps, it’s important to us that all potential crypto investors understand the importance of crypto security–which brings us to the topic of cold storage:

What Is Cold Storage In Crypto?

Any non-internet-connected crypto wallet is a form of cold storage–or a cold wallet. A typical iteration of such offline crypto storage is a hardware wallet. Generally, you can connect this small device to your computer. Hardware wallets offer heightened crypto security–a significant advantage for crypto traders and investors. Specifically, if you carry crypto and utilize this approach, you’re not on the web. So your cryptocurrencies like Bitcoin aren’t left vulnerable to nefarious hackers.

Let’s explain the process a bit more:

Central to all forms of crypto storage is protecting your keys, which are kept offline by cold storage until you make a transaction. The cryptocurrency keys (i.e., cryptographic data strings) exist in two forms. There’s the public key, which identifies the crypto wallet during a transaction. And there’s the private key–the code enabling owners to access the crypto inside a wallet. With a cold storage hardware wallet, you’d connect to your computer, choose the "receive crypto” option (generating an address), and send the crypto to the address. Then, you can store it in your cold wallet.

In the above instance, the information goes offline once you disconnect from your computer because you have private and public keys.

Cold Storage Wallet Versus Digital Hot Wallet

Typically, a digital hot wallet for your crypto offers more upfront convenience than cold storage, streamlining crypto trading and spending. However, with a hot wallet, you’re sacrificing crypto security and leaving yourself vulnerable to online attacks and stolen funds.

Aligning With The Best Cold Storage Providers

Security should trump speed and convenience when it comes to your hard-earned crypto assets. Even more crucial is aligning with the best cold storage providers. For instance, The Crypto Merchant–our partner at Taking Bigger Steps–offers among the safest, most robust hardware wallets on the market. Learn more about The Crypto Merchant by clicking this link: https://takingbiggersteps.com/cold-storage-hardware-wallets

Another leader in this space is Ledger. You'll enjoy optimal crypto control and maximum crypto security by combining the Live Ledger App with Ledger Nano S and Nano X cold storage wallets. Learn more about Ledger by clicking this link: https://takingbiggersteps.com/ledger-nano

Remember, you can only experience the many benefits of crypto by keeping it protected at all costs. Aligning with either The Crypto Merchant or Ledger empowers you to do just that.