What are the recommended tools and techniques for self-custodying crypto?

3 answers

• May 02, 2022 · 3 years ago
  Sure! When it comes to self-custodying crypto, one of the most important tools you should consider is a hardware wallet. Hardware wallets are physical devices that securely store your private keys offline, making it extremely difficult for hackers to gain access to your funds. Popular hardware wallet options include Ledger and Trezor. Another technique you can use is setting up a cold storage wallet, which involves keeping your private keys completely offline. This can be done by generating a wallet address on an air-gapped computer and then storing the private keys on a secure offline device like a USB drive or a paper wallet.
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• May 02, 2022 · 3 years ago
  If you prefer a more user-friendly option, you can also consider using a mobile wallet. Mobile wallets are apps that you can install on your smartphone, allowing you to conveniently manage your crypto assets on the go. However, it's important to choose a reputable mobile wallet that has a strong security track record. Examples of popular mobile wallets include Trust Wallet and Exodus. Additionally, you can enhance the security of your self-custody setup by enabling two-factor authentication (2FA) and regularly updating your wallet software to the latest version.
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• May 02, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends a combination of hardware wallets and cold storage techniques for self-custodying crypto. They emphasize the importance of keeping your private keys offline and away from potential online threats. BYDFi also suggests regularly backing up your wallet and storing the backup in a secure location. Remember, self-custodying crypto requires a proactive approach to security, so it's crucial to stay informed about the latest best practices and security updates in the crypto space.
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