| Kraken Intelligence, Security

Wallet Security 101 – How To Store Your Coins

It goes without saying that there is A LOT going on in crypto. Whether it’s bitcoin hitting new all-time highs, DeFi exploding, or NFTs becoming all the rage, we know there is plenty on your mind. But have you recently thought about how you’re storing and safekeeping your crypto?

While not the norm, many market participants have heard horror stories of lost passwords, hard drives thrown away, misplaced wallet seed phrases and funds stolen due to poor personal account security. These stories are especially worrisome because once you lose your crypto, it’s gone forever.

Kraken put together an easily digestible guide on how anyone with crypto can keep it secure – no matter how much one holds. 

We go over:

  • Whether an exchange, hardware wallet or professional custodian is the right option.
  • How to harmonize the use of a seed phrase, private key, public key and wallet address.
  • How to minimize human error when it comes to security.

Picking an exchange with excellent security practices is essential. But the first line of defense always starts with personal security.

“While cryptocurrencies enable people to take full control of their finances, they also make investors responsible for the safety and security of their own crypto wealth,” said Nick Percoco, Kraken Chief Security Officer. “Enhanced cybersecurity, including unique many-character passwords and two-factor authentication, are essentials – not merely nice-to-haves. It’s estimated that more than 100 million people globally hold some form of cryptocurrency. Having the right cybersecurity measures in place will become ever more crucial as the global number of crypto holders continues to climb further.”

For those who don’t have experience securing their crypto, it can all seem intimidating at first. However, by following the strategies provided in this report, you can confidently control your financial independence.

What type of crypto wallet is right for you?

By downloading this report, we believe you will have a better understanding of how to safely store, transfer and transact with your crypto assets. After all, there is no better time than now to make sure you are truly in control of your crypto.

Download Our Full Report