And if this cold wallet breaks down, then we'll have to pay a fortune to recover what might not even be recoverable anymore...
Leban
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Don't leave your cryptos on an exchange
A cold wallet is a secure method of storing cryptocurrencies offline, reducing the risk of hacker attacks. There are two main types: hardware wallets, such as Ledger or Trezor, which are physical devices where private keys are protected, and paper wallets, which consist of a paper where the public and private keys are printed. To have a cold wallet, simply purchase a hardware wallet from a reputable manufacturer, set it up following the instructions and write down the seed phrase in a safe place, or create a paper wallet with reliable tools. Then, simply transfer your cryptocurrencies from the exchange or hot wallet to the cold wallet address.
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