Investing in cryptocurrencies? Here’s how you can store them safely

Investors and traders alike are excited about crypto assets. But we usually find them in a fix. Where should they store their crypto for easy access and safety? We’re talking about the millions of people who bought cryptos years ago but can’t remember where they stored them. In truly astounding statistics, 20 percent of existing Bitcoins are either lost or stranded in digital wallets and deemed lost forever.

Cryptocurrencies are secure only when you take efforts to keep them secure. Experts advise crypto investors and users to make informed decisions while storing their crypto assets.

What is a crypto wallet?

A crypto wallet is a virtual wallet that helps you

-Send and receive digital currencies securely

-Store your public and private key

-Monitor your balance.

-The secret keys are the only way to prove ownership of digital assets in Bitcoins. A private key is a 256-bit number, which can be represented in one of several ways. Here is a private key in hexadecimal — 256 bits in hexadecimal are 32 bytes, or 64 characters in the range 0–9 or A-F.

Why do you need a crypto wallet?