Where to store your cryptocurrency?

Just like we keep our cash in a wallet, cryptocurrency can also be stored but in a digital wallet also called the cryptocurrency wallet. Cryptocurrency wallet helps you to manage and store your cryptocurrency.

One misconception people have is that cryptocurrency exchanges are also a safe way of storing crypto. NO, as explained in detail in the Intro Video, exchanges are not meant for holding / storing crypto.

There are two types of cryptocurrency wallets, hot wallet and cold wallet:

  1. A Hot wallet is an online wallet that can be accessed from anywhere and is connected to the internet. Usually these are software based applications.
  2. Whereas the Cold Wallet is not connected to the internet and you can store your data offline. Cold wallets are also known as ‘Hardware wallets” which are physical hardware devices or cards.

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