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Crypto wallets: what you need to know



Cryptocurrency prices seem to have an unstoppable upward trend. As Bitcoin and Ethereum hit record highs this month, more and more people are investing money in digital currencies. They have many options to ensure the safety of their investment.

The cryptocurrency is stored in a so-called wallet, which has a private key associated with it, similar to a password. The easiest way to put coins in your wallet is on the cryptocurrency exchange you used to buy the currency (such as Coinbase or Gemini).But more mainstream companies, such as PayPal and Robin Hood, It also adds options for buying, selling and storing cryptocurrency.

Coinbase cryptocurrency trading market

James Martin/CNET

Cryptocurrency owners who wish to fully control their investments can also rely on digital wallets managed by local software on users’ own devices. For extra security, you can consider using a so-called cold wallet, which is actually a local device that is not connected to the Internet, such as a hard drive.

Company like this safe And Ledger developed special drivers for cryptocurrency wallets. The two companies said that even if the device is plugged into the computer, sensitive information will not be disclosed (please don’t lose the device or the key required to access the data on the device). Watch the video above to learn more about how all these options work.


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