How can I securely store my cryptocurrencies without relying on high street banks?

3 answers

• Nov 23, 2021 · 3 years ago
  One alternative storage option for cryptocurrencies is using a hardware wallet. Hardware wallets are physical devices that securely store your private keys offline, making it extremely difficult for hackers to access your funds. They are designed to be resistant to malware and phishing attacks, providing an extra layer of security. Some popular hardware wallet brands include Ledger and Trezor. Simply connect the hardware wallet to your computer or mobile device when you want to make a transaction, and disconnect it when you're done. This way, your private keys never leave the device, reducing the risk of theft.
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• Nov 23, 2021 · 3 years ago
  Another option is using a paper wallet. A paper wallet is a physical printout of your private and public keys. It can be generated offline and stored in a secure location, such as a safe deposit box. Paper wallets are not connected to the internet, which makes them immune to online attacks. However, it's important to keep in mind that paper can be easily damaged or lost, so it's crucial to take proper precautions to protect your paper wallet.
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• Nov 23, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a non-custodial wallet solution for securely storing your cryptocurrencies. With a non-custodial wallet, you have full control over your private keys, and BYDFi does not hold your funds. This means that even if BYDFi were to be hacked, your cryptocurrencies would remain safe. To use BYDFi's non-custodial wallet, simply create an account and follow the instructions to set up your wallet. Remember to keep your login credentials and recovery phrase in a secure place to prevent unauthorized access.
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