Cryptocurrency Basics

What’s the best storage option?

3 years ago

There is no ‘best’ when it comes to storing cryptocurrency.

The preferred solution is always a trade-off between security and how you’ll use your cryptocurrency. The options are easiest to understand in context:

  • Traders may prefer hot wallets as they give easy access to funds at all times
  • Investors and hodlers may prefer the most secure cold-storage solution
  • Custodians and institutions could need a multi-signature solution if they handle huge volumes

Where should I store EUM?

If you’re an everyday user, we recommend you keep most of your funds in a cold wallet like a hardware wallet. This gives you maximum security, particularly once you’ve stored your keys a secure offline location. That probably means writing seed phrases on paper and storing them in a safe.

The rest of your funds can stay in a hot wallet, especially if you plan to use or trade them.

Mobile wallets are often the best choice as they work as a current account, letting you spend cryptocurrency or move it from one account to another in a few clicks — but never store more money in a current account than you’d be happy to lose, much the same as any regular wallet.

Learn where you can safely store EUMread about our cryptocurrency today.