2024 Guide: What You Need to Know to Invest in Crypto Safely
Storing Crypto Safely Using Wallets
While the above steps can help to protect you against an exchange attack, you are ultimately not in control as long as the exchange has your crypto. That’s where crypto wallets come in.
What Is a Crypto Wallet?
A crypto wallet is like a literal wallet where you can store your cryptocurrencies, only, since cryptocurrencies are digital, crypto wallets are virtual as well. They are a piece of software you can use to prove that you are the owner of a particular crypto account or address. You can use a wallet to store cryptocurrency securely or to authorize crypto payments to employees or merchants.
Unlike exchanges, wallets live on your device, so the only way for an attacker to get crypto…
