Cold Storage

Cold storage is a term given to storing your cryptocurrencies off the internet. The point of cold storage is that it is considerably safer than storing your crypto in an internet wallet. If you use a wallet on an exchange or one of the many internet wallet services, you could be putting your crypto at risk. The fundamental point of cryptocurrency is decentralized money. An exchange is a centralized entity and requires you to trust that company or group of people.

The fundamental point of cryptocurrency is decentralized money. An exchange is a centralized entity and requires you to trust that company or group of people. In 2014, the infamous Mt Gox lost nearly 850,000 bitcoins to hackers or an inside job. Since that catastrophe, exchanges and users alike have been focused on the security of their crypto holdings.

By storing wallets offline, hackers with keyloggers and other viruses are prevented from stealing your passwords and private keys.

Cold storage is the safest option for storing your cryptocurrency and there are many tools to help you accomplish this.