CRYPTOCURRENCY PRIVATE KEYS AND COLD STORAGE

What are private keys?

Some have asked me this question: Do I need to generate a private key?

Cold Storage

Some of the popular forms of cold storage are the Hardware and Paper wallets

Hardware wallet

  • Ledger Nano X (review)
  • Trezor T (review)
  • Trezor
  • Keepkey

Paper Wallet

Other types of cold storage are Sound wallet and Deep cold storage.

Hot Wallet

  • The easiest way to store small amounts of bitcoin and crypto
  • Convenient; spending and receiving payments is easy and fast
  • Some hot wallets allow access to funds across multiple devices

Storing tokens on exchange wallets can be dangerous for several reasons.

1) Lack of Ownership

2) Unregulated

3) Hacking Risk

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