When Will You Consider Using A Cold Storage Wallet?

How much crypto would you have before you decide to start storing your crypto in a cold storage? How much in crypto value should your crypto portfolio reach before you are like “its time for me to get a cold storage wallet”. Lets remember that money is relative, you might see $10k to be a lot of money but someone else wouldn’t see $10k to be a lot of money worth storing a cold storage. Well, in crypto, I will say never underrate any cryptocurrency because of their current value, because remember there was a time bitcoin was $1. At that time storing bitcoin in a cold storage wallet would sound funny and too serious, but look at the price of bitcoin today.

When storing crypto in a cold storage wallet, your biggest concern is security, making sure your asset is safe no matter how low their value might be. One of the reasons we need to get a cold storage wallet is to have control over our asset. Cold storage wallet gives you complete control of your private keys, its fully almost decentralised, almost decentralised because rumour has it that some of these cold storage wallets might have a back door. Using a cold storage is offline, when you want to execute any smart contract you need to physically connect the cold storage wallet yourself, making the smart contract self executing. You don’t have to worry about some hacker hacking into your wallet from anywhere in the world. This means that it gives you some sort of deeper security and privacy.

Having a cold storage wallet is like having your money in your pocket, remember you have the key phrases even if someone takes your cold storage wallet, they need the key phrase to access it. So see it as a vault, if you have any crypto and you believe in the future value of that coin, putting it in a cold storage wallet, no matter how much it is, is the best way to protect it. Don’t over look it that it’s too small to protect, put it there and watch your crypto value increase.

Posted Using InLeo Alpha