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How can I safely store my Arbitrum crypto after purchasing?

avatarOguz CoskunDec 26, 2021 · 3 years ago3 answers

I recently purchased some Arbitrum crypto and I want to make sure it is stored safely. What are the best practices for storing Arbitrum crypto securely?

How can I safely store my Arbitrum crypto after purchasing?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    One of the best ways to store your Arbitrum crypto securely is by using a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making them less susceptible to hacking or theft. They provide an extra layer of security by keeping your private keys separate from your computer or smartphone. Some popular hardware wallets that support Arbitrum crypto include Ledger and Trezor. Make sure to follow the manufacturer's instructions for setting up and using the hardware wallet.
  • avatarDec 26, 2021 · 3 years ago
    Another option for storing your Arbitrum crypto securely is by using a software wallet. Software wallets are applications that you can install on your computer or smartphone. They provide a convenient way to access your crypto assets while still maintaining a certain level of security. Some popular software wallets that support Arbitrum crypto include MetaMask and Trust Wallet. When using a software wallet, it is important to keep your device and software up to date and to use strong, unique passwords.
  • avatarDec 26, 2021 · 3 years ago
    At BYDFi, we recommend using a combination of hardware and software wallets to store your Arbitrum crypto securely. By using both types of wallets, you can benefit from the security features of hardware wallets while still enjoying the convenience of software wallets. Remember to always keep your private keys and recovery phrases in a safe and secure location, such as a safe deposit box or a hardware wallet backup. Additionally, consider enabling two-factor authentication (2FA) for an extra layer of security when accessing your crypto assets.