How do I store my cryptocurrency safely?
Cryptocurrency can be stored in various locations. For example, you can choose to store cryptocurrency on an exchange such as Poloniex or Bittrex so that you can easily trade with it directly. However, if you do not trade regularly, it is safer to store your cryptocurrency in a web, mobile, desktop or hardware wallet.
The different types of wallets are shown below. They are further explained in the video below.
- web (popular for example is MyEtherWallet)
- mobile (my personal favourite is Jaxx)
- desktop (often issued per cryptocurrency, for example the one of the altcoin NXT of yours here)
- hardware (my personal favourite and one of the most secure ways is the Ledger Nano S)
- Hierachical Deterministic (HD)