How to store cryptocurrency

How to store cryptocurrency - Once you purchase a cryptocurrency, you must store it securely to protect it from hacking or theft. Cryptocurrencies are usually stored in cryptocurrency wallets, which are physical devices or online software that are used to securely store the private keys of cryptocurrencies. Some exchanges offer wallet services, making it easy for you to deposit directly through the platform. However, not all exchanges or brokers provide wallet services to you automatically.

There are many wallet service providers to choose from. The terms "hot wallet" and "cold wallet" are used:

Hot Wallet Storage: A “hot wallet” refers to encrypted storage that uses online software to protect the keys to your assets.

Cold wallet storage: Unlike hot wallets, cold wallets (also known as hardware wallets) rely on offline electronic devices to securely store your private keys.

Usually, cold wallets tend to charge, while hot wallets do not.