Crypto prices seem to be on an unstoppable upward trajectory. As Bitcoin and Ethereum hit record highs again this month, more people are investing their money in digital currencies. And they have a wealth of options for keeping their investments safe.
Cryptocurrencies are stored in a so-called wallet, to which a private key is attached, similar to a password. The easiest way to get your coins into a wallet is on the cryptocurrency exchange you used to buy your currency (think Coinbase or Gemini). But more mainstream companies, such as PayPal and, have also added options to buy, sell and store crypto.
Crypto owners who want complete control over their investments can also rely on digital wallets managed locally by software on the user’s own device. For an extra layer of security, consider using what’s called a cold wallet, which is essentially a local device such as a hard drive not connected to the internet.
Companies loveand Ledger make special drives specifically for cryptocurrency wallets. The companies say sensitive information won’t be displayed even when the devices are connected to your computer (lose the device or the key needed to access the data on it). Watch the video above for an in-depth look at how all these options work.