1. Choose a reputable wallet: It is possible to store cryptocurrency in both online and offline wallets. Research available wallet options and choose one that provides security features such as multi-factor authentication, password protection, and advanced encryption.
2. Store your private keys securely: Private keys are the alphanumeric codes that give you access to your cryptocurrency. They should be kept safe and secure, as anyone with access to your private key can spend your cryptocurrency. This can include hardware wallets, password-protected documents, or a combination of both.
3. Regularly backup your wallet: It’s important to routinely back up your wallet to make sure you don’t lose access to your cryptocurrencies in the event of an emergency. Many wallets allow you to back up your wallet with a seed phrase.
4. Monitor transactions and look for device updates: Regularly monitor your wallet for any suspicious activity or unexpected transactions. Additionally, keep your wallet software up to date with any new releases as these often include security updates.
5. Practice good cyber hygiene: Make sure you’re following proper cybersecurity practices on all devices used to store or access your cryptocurrency. Take advantage of two-factor authentication and regularly update your passwords and security questions.