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What is the best and secure way to store cryptocurrencies?
Cryptocurrencies are in developing phase. Developers are working to make them safe for everyone. As of now, the best ways to store your coins, in my opinion, are paper wallet and hardware wallet. Read on.
What is a hardware wallet?
Cryptocurrency hardware wallet is a USB flash drive like physical device which enables you cold store (storing coins offline) your cryptocurrencies in an isolated space and at the same time lets you spend the same without exposing your private keys to the internet. Read on.
What is a paper wallet?
Paper wallet is a piece of paper which contains a public bitcoin address, QR code, and private keys of a generate wallet. There are some paper wallet service providers out there who let you create paper wallet for Ethereum, Ripple, Bitcoin, and the like coins.
Due to the wake of cryptocurrency hardware wallets, paper wallets are almost obsolete. But still these are better option than web wallets (when it comes to long term holding).