Short Guide of Cryptocurrency Storage Method

Methods of Storing your Valuable Coins

Online Wallet:

Online wallet is a software that is hosted by third party which allow you to access , store or transfer your currency

Pros:

convenient
easy access through website
required technical knowledge

Cons:

stored on third party hosting service
easy target for hacking

Exchange:

Exchanges are primarily used to convert fiat money into cryptocurrency or provide trading between the different crypto currencies

Pros:

highly liquid
convenient

Cons:

prone to hacking or fraud
third party has full control

Offline:

This method is secure to save your cryptocurrency but it has also pros and cons

Personal Storage Device:

Cryptocurrencies can be stored on removable media such as USB stick or memory card, CD, or external hard drive. The best things about these is you can store them offline anywhere, in a safe, or a bank deposit box. It is less convenient as it requires either transfer of large data files or certain files from the wallet software.

Requirements for different currencies can also vary. However it doesn’t require any advanced level of technical knowledge. It’s either simply storing your wallet files, or encoded private keys

PC/Laptop :

Another good option is to leave them on your PC. However most PCs are connected to the web.
They are also prone to hacking, corruption and loss of data, and viruses, etc

Pros:
security level depends on you
can create backup option

Cons:

time consuming process
prone to data corruption

Paper Storage:

A paper wallet is a basically a sheet of paper which contains the printed version of your cryptocurrency private and public keys
There are multiple options with paper wallets also

Pros:

most secure option
easy to create backup
backup in multilocation

Cons:

have to protect from damages, theft and prying eyes
require bit of technical knowledge

That all if you found this article valuable and enjoyed then support and vote me to focus on more reliable and effective
data for you

Thanks Again