How can I securely store my crypto assets using self custody?

5 answers

• Dec 14, 2021 · 3 years ago
  One secure method for storing your crypto assets using self custody is by using a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making them less vulnerable to hacking. They provide an extra layer of security by requiring you to physically confirm transactions on the device itself. Examples of popular hardware wallets include Ledger and Trezor. By keeping your private keys offline, you reduce the risk of your assets being compromised.
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• Dec 14, 2021 · 3 years ago
  Another secure method for self custody of your crypto assets is by using a paper wallet. A paper wallet is a physical printout of your private and public keys. It is generated offline and can be stored in a secure location, such as a safe deposit box. However, it's important to keep in mind that paper wallets can be easily lost or damaged, so it's crucial to make multiple copies and store them in different secure locations.
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• Dec 14, 2021 · 3 years ago
  At BYDFi, we recommend using a combination of hardware wallets and multi-signature wallets for secure self custody of your crypto assets. Hardware wallets provide the highest level of security for storing your private keys, while multi-signature wallets add an extra layer of protection by requiring multiple signatures to authorize transactions. This ensures that even if one key is compromised, your assets remain secure. It's important to regularly update your wallet software and firmware to protect against any potential vulnerabilities.
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• Dec 14, 2021 · 3 years ago
  When it comes to self custody of your crypto assets, it's important to choose a method that you feel comfortable with and that fits your needs. Other secure methods include using a dedicated computer or offline device for storing your private keys, or using a secure hardware module (HSM) for added protection. Remember to always do thorough research and follow best practices to ensure the security of your crypto assets.
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• Dec 14, 2021 · 3 years ago
  Storing your crypto assets securely using self custody is crucial to protect them from potential hacks or theft. One popular method is using a hardware wallet, which is a physical device that stores your private keys offline. This provides an extra layer of security compared to online wallets. Another option is using a paper wallet, which involves printing out your private and public keys on paper and storing it in a safe place. It's important to keep in mind that self custody also means taking responsibility for the security of your assets, so make sure to follow best practices and stay informed about the latest security measures.
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