All about hardware storage: Should you store bitcoins on a flash drive or not?
29 January 2018
29 January 2018
“Cold wallets” or bitcoin flash drive literally put bitcoin in your pocket. This method is considered the most secure, but it is not suitable for all owners of cryptocurrency.
Let’s talk about how to store bitcoins on a flash drive. Bitcoin is only the sum of records in the blockchain, it does not exist in the form of code or program. Therefore, the device will store not cryptocurrency, but public and secret digital keys that provide access to bitcoins.
You can buy a special device (for example, Trezor) or create a removable storage with a conventional flash drive (additional software is required).
A special purse will require investments: the average price of Trezor gadgets today is about $90. However, it is more convenient and better protected from external influences.
A special purse will require investments. Trezor gadgets today cost about $90. However, it is more user-friendly and is better protected.
As for the flash drive, it is affordable and you can choose software. However, both ways will help achieve the main goal: to protect your bitcoins and altcoins.
The main danger for bitcoin savings is the connection to the Internet: hackers can get an access to digital coins. Therefore, bitcoin purse on a flash drive is more secure than online storage, mobile application or purse on the computer. This is a good way of storing for people who invest large sums in the cryptocurrency for a long time.
You can not immediately get access to bitcoins when storing offline. Therefore, the method will not be useful for traders who constantly deal with cryptocurrency.
We also do not recommend using a “cold wallet” for those who can not ensure the security of the data carrier. It is better to keep the device safe, because if loosing or damaging your flash card for cryptocurrency you will lose all coins.
Now that you know how to store the cryptocurrency on a flash drive, you can check the top devices.
The price of a wallet usually depends on its functions. At the same time, using even the most inexpensive hardware purse is more reliable than stock exchanges or online purses.
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