All lucrative businesses attract two kinds of people; those who want to work and earn and the ones who want to use underhand methods to acquire rewards. The cryptocurrency industry is no different. Being a technology-driven industry, hackers are the biggest threat to your portfolio. However, cases of theft are not unheard of as well.
Therefore, irrespective of how you have acquired your dash tokens, it is paramount that you secure them safely. There are several dash compatible wallets that you can from; however, before getting to that, it is essential to consider your plans for these cryptocurrencies that you possess. For instance, do you plan on:
Making frequent transfers to other people
Or simply storing your dash for the long run
Your intentions will help you to determine a more suitable storage system that will allow you the liberty to as you wish without comprising on their safety.
Hot wallets Vs. Cold Wallets
Simply put, hot wallets are online wallets, they are constantly connected to the Internet and can be accessed from any online terminal given the terminal user has the required verification credentials. Their accessibility aspect makes them ideal for users who intend on trading or transferring their crypto regularly. At the same time, it makes hot wallets the least secure storage option. You are, therefore, advised to keep a small portion of your crypto on hot wallets for transaction purposes only.
Cold wallets, on the other hand, are offline wallets and therefore, allot safer. With these wallets, you have nothing to worry about as long as your computer operating system and malware detection applications are up-to-date. You should store the vast majority of your stash on an offline wallet. They come in several categories include desktop wallets, hardware wallets, mobile wallets, paper wallets, and web wallets. For your benefit, a few of the most reliable Dash compatible, offline wallets have been explained below.
Hardware wallets come in the form of physical gadgets that are retained offline. However, you can easily plug one into a computer when necessary. The fact that you have to confirm every transaction by pressing a specific button on the device makes them a very secure alternative. There have no cases of hacked hardware wallets so far, so can rest assured that your crypto is safe.
Examples of hardware wallets include the legger Nano S, KeepKey, and Trezor.io. They are all different regarding features; therefore, you should do some research before selecting one.
Dash compatible desktop wallets are readily available with varying security and utility features. These include the Dash Core Win/64 Installer, Dash Electrum, cash core Win/64 ZIP and Exodus.
As the first multi-currency desktop wallet, Exodus has an attractive user interface and offers its users a full pie-chart of their crypto stash. It supports up to eleven altcoins and using it is free of charge. Exodus also has an inbuilt ShapeShift exchange facility, which means you can conveniently convert your dash tokens to other cryptocurrencies within seconds. This feature makes taking advantage of price shifts a lot easier for traders.
Dash Paper wallets
Paper wallets are vital bearer gadgets, in a way that whoever holds the wallet has unlimited access to the stored digital assets. They are some of the best yet cheapest storage units, especially for storing cryptocurrency secretly. The paper wallet bears both your public and private keys; therefore, it is vital that you keep them safe. Though, they are impossible to hack. An ideal example of paper wallets is Dash Core Paper Wallet.