With all the uncertainty and concern in the crypto community and the news, it’s time for a quick refresh on wallet security awareness. Security should be at the top of every crypto user’s priority list from day one. Whether you hold 100 SATS or 100 BTC, keeping your funds safe is essential.
It’s never too late to learn how to keep your digital assets safe and in your control. This article will briefly cover some key refresher points around navigating the world of digital assets without losing your cryptocurrency. In addition, we’ll look at how Wallet.io offers you a secure path to storing your crypto.
How to know if your crypto is safe?
First off, nothing is 100% secure. However, this doesn’t mean security should be an afterthought. The goal is to be as secure as possible in a way that best suits your situation and circumstances.
There are two main criteria one can assess to determine if their assets are secure:
- Does the storage solution prevent unauthorized access to your crypto?
- Are you able to maintain access to your crypto?
Your Keys, Your Crypto
One of the most popular methods to hold your cryptocurrency is Self-Custody: your cryptocurrency is held in a digital wallet under your own control. This means you control access to the private keys or seed phrases, and therefore to your coins and the ability to conduct transactions from your wallet directly. With self-custody, users can be worry-free about their assets being hoarded by the exchange.
There are two main ways users self-custody their crypto; hot and cold wallets. Hot wallets are digital wallets connected to the internet, where the private key or seed phrase is stored on a smartphone or computer. Cold wallets offer another extra level of security. They are digital wallets where the private key or seed phrase is stored in a device disconnected from the internet.
With both wallet types, users are responsible for their own assets, not the exchange. So to remain secure, private keys or seed phrases should never be shared and must be physically recorded with several backups in secure locations. If one of two of these rules is broken, a user’s assets are at risk.
Wallet.io offers a secure, hassle-free, no-compromise wallet solution
Wallet.io is a self-custody wallet application that supports both hot and cold wallets. It offers an advanced, easy-to-use solution to safeguarding assets in a hot wallet. Users don’t need to worry about losing or forgetting a seed phrase or private key, as they are secured behind high-intensity encryption using a withdrawal password, which cannot be accessed by Wallet.io and is hidden from hackers behind strong cryptography.
Even more, Wallet.io supports cold wallets, allowing users who store their self-custodied crypto offline while also being able to interact, trade and transact online.
And on top of all of this, Wallet.io users can log into the crypto exchange Gate.io, providing a one-stop solution to exchanging and trading from your self-custody wallet and one of the world’s largest crypto markets.
Overall, the application allows users to safely and easily manage and trade their cryptocurrency while maintaining the peace of mind that their assets are in their control. Wallet.io supports nearly all major cryptocurrencies and blockchains, and then some. Meaning users have access to millions of cryptocurrency tokens across the most popular blockchains, all while maintaining a high level of security for their assets.
