Worried About Safety Of Your Cryptocurrencies? Know How To Store Them Securely

Cryptocurrencies are booming and the growing popularity in 2021 has seen new investors entering the cryto-verse. The ease of buying cryptocurrencies across multiple crypto exchanges has made the user journey hassle-free but the security of those investments is still a looming issue. The main question is how to safely store your cryptocurrency to protect it from getting lost.

Let’s begin by answering how do you keep your credit cards and cash safe? By keeping it in a wallet. Similarly, what is the safest way to store cryptocurrency to protect it from hackers? By storing it in a cryptocurrency wallet.

Types Of Wallets

After deciding on which wallet works for you, below are the security threats you must be aware of:

Read: Beginner’s Guide: How To Buy, Sell And Track Cryptocurrencies

Are Your Cryptos Safe at an Exchange?

Clearly, there are risks in maintaining your funds at a centralized exchange unless you are actively trading. It can be troublesome to keep moving your cryptos from exchange to the wallet and vice versa, so it is recommended to leave a small amount for trading purposes and transferring the rest.

The solution here is to move your crypto assets to a software wallet like iOWN Token, which has in-built safety features.

Read: Different Types Of Crypto Wallets You Need To Know

Don’t Share Your Private Key

Buying and leaving your cryptos with a third party would mean you are not fully in control of your assets. A user has full control when they move their cryptocurrencies independently from a third party to a hardware wallet like the Ledger Nano X or software wallet like iOWN Wallet.

Under any circumstances, you should not share your private key with any other person and store it securely. We keep warning iOWN Token holders that no admin or team member part of the iOWN Group will ever ask for your private key on Telegram or our social media pages. Be aware of hackers who might ask for private key and inform the official admins of iOWN Token group.

How To Choose a Secure Wallet?

  • Secret phrase: While creating a new wallet, the iOWN Wallet app shares a 12-word secret key phrase with each user. This key phrase must be stored safely as it will allow you to recover your private key and log into your wallet at any time.
  • Biometric, fingerprint: Security measures like fingerprint sensors and biometric authentication help to keep your transactions under lock and key.
  • Private key ownership: You need to be the sole owner of your private key and crypto-assets.
  • Track crypto assets: Opt for wallets with functionality to access and store multiple assets in one place.

Keep your iOWN Token, Ethereum safe with iOWN Wallet

Our highly secure and easy-to-use iOWN Wallet puts you in control of your cryptocurrencies. The crypto assets that you buy and store in iOWN Wallet are protected with a high level of encryption and trackable on Ethereum-based blockchain explorer.

Download the app on iOS and Google Play store.

iOWN Token is an ERC223 token to be used within the blockchain-based equity crowdfunding platform, iOWNX.