The storage of cryptomonas (like Bitcoin, Ether, Ripple, Iota etc) is extremely important. Because Bitcoin and all other coins are so valuable, it's perfectly normal to want to keep them safe. And this is what we will be talking about in this article: how to keep your cryptomonas safe and what wallet to use.
What Is A Wallet For Bitcoin And Other Coins?
A wallet (or wallet, as it is called in English) is a software program where the currency for which it was created is stored. Basically, this wallet generates and stores transfer addresses that are used to receive or transmit coins further, as well as all the data needed to know how much money you have personally.
Unlike the traditional coins that exist physically, Bitcoin and all other cryptomonas are not physically represented. Thus, in practice, a wallet does not store these coins, but retains the so-called private keys of Bitcoin users in Blockchain (or other coins). In other words, he has the instructions to send to Blockchain, informing him of the coin holder and offering the possibility of initiating transactions.
It sounds rather complicated, but what matters to the non-technical user is that your wallet is extremely important: if Blockchain is safe and can not be attacked by hackers to steal coins (because it's hundreds, thousands or tens of thousands of computers that create an untouched cloth), wallets or wallets can be attacked.
As in real life: a bank account is safer, a wallet that you carry in your pocket can be taken much easier. That's why it is extremely important to choose the safest and best wallet for Bitcoin and the rest of the coins that you have.
Remember, it's your money, so you have to do everything in your power to keep them safe!
Which Are The Best Wallets / Wallet For Bitcoin, Ether, Ripple And Other Coins?
There are several types of cryptomonade wallets: online (like most), mobile (virtually all online), offline (for computer), paper wallets and physical / hardware wallets.
Although all may seem very complicated, we will simplify them a little. I want to remove the paper wallets from the start. First, there are many coins that do not support such wallets, and they are also easy to lose, lost or stolen, so for the moment we will ignore them.
Physical / hardware wallets for Bitcoin
These are considered the best and safest options for storing cryptomonas. They work as smart password generators, private keys and instructions for coins - and do everything offline, reducing the possibility of being intercepted and modified by viruses or third parties, thus enhancing the security of coins held.
A hardware wallet connects to your computer via USB, passes the information generated offline and returns to your pocket / safe / drawer or wherever it is held.
The good part about these hardware wallets is that they come with countless back-up and security measures. In addition to PINs and passwords (extremely long to make it difficult to break them), they also have a number of offline offline back-up keys that allow a wallet to be reactivated in case it is lost or destroyed.
These backup keywords need to be stored in a variety of places, and extreme caution should be taken: if you lose and lose your hardware wallet, there is no way to get your money back! Ideal is to keep a copy at home in a safe place (for example, write the words inside a library book), you can make a document that you save online containing your password words without being obvious, you can have a copy in the parents' house, and so on. It is good to have variety here to increase safety.
Okay, and now that I found out how things work with a hardware wallet, here is what is considered the best such wallet right now:
Ledger Nano S
In a while it was also selling, but at the moment the stock seems to be exhausted. Leave the link, may reappear in stock. Elsewhere I did not find a buy, but I can order an online one from abroad, for example Amazon.
Ledger Nano is considered to be the safest and best wallet for criptomonades, but unfortunately they only bear a limited number of them. You can read on the official page which coins accept Ledger Nano (the page will be constantly updated).
An equally good and safe alternative is Safe, which works on the same principles. There are voices in the world of cryptomonas who claim that the Safe is even better than Ledger, and my opinion is that whatever you choose, you're safe.
Online Wallets
However, if you do not have a significant amount of cryptomonas, an investment in a hardware wallet probably does not make sense. I personally do not think I need to buy a hardware wallet, although my initial investment has tripled.
What wallets do I use? Official wallets available online.
For Bitcoin I use my wallet on Blockchain.info. For ETH and coins created using its technology, I use MyEtherWallet. The rest of the coins keep them in official wallets (look on the coin if they have that) or in exchanges (more about this below).
With the wallets on Blockchain.info and MyEtherWallet you're about as safe as the wallets, in my opinion. It works on the same principle, meaning that if you lose your password and back-up words, you can no longer access your wallet, but it offers a lot of back-up modes that you should take advantage of, as well as different ways of protecting against logging unauthorized users.
Why do not I use my wallets?
Personally, I consider them to be more insecure than the wallet, for two main reasons:
With so many apps available on the phone and control quite difficult to do (especially on Android - and I have an Android phone), the risks of getting a Trojan, a virus, or another malicious gong is great.
The phone may be lost very easily. I do not want to risk any more than it takes for someone to get my nose through my apps and can succeed (though it's almost impossible) to get into my wallets.
Why not keep money in exchanges?
Exchanges are always the target of hacker attacks, and there have been occasions when big exchanges have been defeated and many lost money. Risk is always present, although companies do their best to avoid this.
However, if you are a trader, there is little point in moving your money into a wallet, then transferring in exchange, and so it lasts a lot and costs a lot.
Thus, although it is not advisable to keep cryptomonas in exchanges because they are most vulnerable to attacks, there are very few options if you are trading. Try to keep, however, only the money you want to trade with and nothing more to minimize possible damage if something bad happens.
And keep in mind: just go to the big exchange trades. Do not risk. It's useless!
Conclusion
Again, the article sounds a little more complicated than it is in reality. In short, for those who have arrived here and are still not sure what to do, here's my opinion (but do not forget, you are the only responsible for the decisions made and the way you manage your money):
For large amounts or for investments like "buy and keep the currency," the safest is to go to the hand of a hardware wallet. For medium amounts and slightly more intense coinage, I recommend official wallets (like Blockchain.info or MyEtherWallet).
Finally, for those who want to trade actively, there is no choice but to choose one or two renowned and secure exchanges, and to keep money there, making the necessary trade. I use Poloniex and Bittrex, but the latter starts to displace me because she has high taxes. The alternative would be Bitfinnex or Binance.
