Learn the key criteria when choosing a secure cryptocurrency wallet. Get tips to protect your crypto assets and keep your funds safe.
For storing fiat money, they prefer well-known banks with a proven reputation or heavy fireproof safes. Responsible people do not put money in a stocking under a mattress. Cryptocurrency is the same valuable asset, and if the parameters by which banks or safes are chosen are more or less obvious, then not everyone understands how to choose the safest crypto wallet. We share search tips in the article.
Tip one: non-custodiality is your everything
Only when using a non-custodial wallet is a person the real owner of his assets, since in this case the software is installed on the client’s server.
This does not mean that custodial wallets cannot be used at all, they can be useful for making quick transactions on exchanges. However, storing any significant amount of money on them is irresponsible.
Tip two: look for anonymous crypto wallets
Security and anonymity are words in the crypto industry that are often used in a row and have become almost synonymous. Keeping information about your real IP address from third parties, including corporations and government regulators, actually means protecting your assets from the risk of blocking at their discretion. It will also help protect against fraudsters.
The problem is that cryptocurrencies have not been anonymous since 2014. Governments have a surefire way to de-anonymize all transaction participants by placing a huge number of their nodes around the world. To hide your IP address, it is not enough to use VPN services; their owners are required to provide user data to governments. Tor will not help either, since nodes are in no hurry to confirm transactions to those who connect through it.
The best anonymous wallets provide ways not to disclose personal data. For example, BitHide uses Dark Wing technology, a synthesis of VPN and Tor, to carry out transactions. It effectively hides the real IP address and ensures fast confirmation of transactions.
Tip three: decide on your goals
Depending on what you plan to do with cryptocurrency: just store, occasionally make transactions or trade, different solutions will suit you. For example, for storage you can’t find anything better than a cold hardware wallet, but it is not quite suitable for trading, working with a hot wallet is faster and more convenient. However, you should not store all your assets or just a significant amount of money on a working online wallet, as it can be attacked by hackers.
When you decide what exactly you need a wallet for, you can go through the most popular and proven ones from the selected group. If you need an anonymous bitcoin wallet for business, you will hardly be able to find a more suitable solution than BitHide. This statement is also true for other cryptocurrencies, such as Etherium, Litecoin, Tron or USDT. The product combines the security and speed of the blockchain with the convenience of classic tools for working with financial flows.
