Where to Save Your Cryptocurrencies More Securely?

There are 3 types of wallets:

·         The wallets of the exchanges:

They are good when you need to exchange one cryptocurrency for another, but if you want to save or holdear in the long run they are not a good option. When you deliver your cryptocurrencies to an exchange you are exposed to certain disadvantages, the exchanges can be hacked or your account can be put under investigation without any apparent reason, Governments can ask for all your information from the exchanges and in very specific cases they can even ask for the freezing of your assets.

In short when you deliver your cryptocurrencies to the exchanges you lose the power of the same

·         The hot wallets:

They’re just a graphical interface so you can access your cryptocurrencies, which means those wallets don’t have your assets, your cryptocurrencies are on the blockchain, for example if I keep my cryptocurrencies in a hot wallet like Trustwallet.com and tomorrow it disappears, I will not have any problem I can go to another hot wallet like Exodus.com for example and by means of my seed phrase recover everything I had in Trustwallet.com.

This is possible because these wallets don’t have your cryptocurrencies, because your coins are in the blockchain. However there are many techniques with which you can steal in this type of wallets, for this reason many people who have lost their cryptocurrencies in these wallets have blamed them.

·         The cold wallets:

These types of wallets help you store your cryptocurrencies in a hardware portfolio or USB wallet. It helps you isolate your coins on a device that is not permanently connected to the internet, which will prevent any type of hacking. The information remains encrypted, so not everyone can access it without the seed phrase and other than that they can include a fingerprint authentication to increase protection.

Trends in Cryptocurrency: 04/02/2022

·         Winners:

- JST/USDT approx. 40% of earnings.

- ETHUP/USDT approx. 28% of earnings.

- ACA/USDT approx. 25% of earnings.

·         Losers:

- IMX/USDT approx. -31% lost.

- FORTH/USDT approx. -25% lost.

- IDEX/BTC approx. -22% lost.

Trends are data taken from the Binance.com platform.

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