In this article, we’ll talk you through the best ways to store NFT and why USB sticks aren’t one of them and provide some guidance for storing your non-fungible tokens or cryptocurrencies with proven long-term security.
Hot vs. Cold NFT Storage
For all the crypto enthusiasts out there, it’s not just a matter of getting rich quick. You need to store your digital assets somewhere safe and secure so you don‘t lose them forever! And while hot wallets offer some benefits like easy access (you can move coins in an out relatively easily), they also have their drawbacks because if something happens such as malware attack on one’s computer/ Mobile device then those funds could be compromised too irreversibly—so what good does having great technology do without proper safety precautions taken before using?
On the other hand, cold storage solutions store cryptocurrencies offline on a hardware device or media such as USB sticks and paper wallets. These are much more secure because they are not connected to the internet and your funds can only be accessed physically by you. For obvious reasons, this is one of the most popular methods for storing digital assets long-term.
Crypto-wallets are a way to securely store digital assets, like cryptocurrencies. A wallet consists of two parts: an address for sending coins and signing off transactions (a public key) with the private code needed at this point in time only you know – just as if it was your bank card PIN number that allowed access to withdraw money fromATM machines!
The importance here cannot be overstated because while hot wallets make managing smaller amounts easier they aren’t actually optimal when storing larger sums especially given how much hackers love targeting internet connected devices these days; but thanks largely due to the cryptocurrency bull-run of late 2017 and continuing into 2018, the need for more secure cold storage solutions has become a pressing issue for many.
The idea behind storing your cryptocurrency offline is that it’s safer. Your keys stay in the physical world, where they can’t easily be hacked or scammed from afar like with an online platform for trading coins and tokens
The importance of keeping some part – even if you’re only using cold storage wallets-offline goes back centuries: during this time period people have found ways to protect their assets by hiding them away on metal plates buried underground; writing down private information onto paper bill and storing it in a vault; or engraving account details onto a physical medium which is then locked away safely.
NFT USB Storage is Not as Secure as You Might Think
Given that USB sticks are generally seen as a very low-tech way to store data (compared to say, using an encrypted hard drive), you might think they’d be a good place to store your cryptocurrencies. Unfortunately, this is not the case. Although they are portable and easy to use, USB sticks can be easily hacked and accessed if they fall into the wrong hands. In fact, a recent study showed that almost half of all USB sticks tested contained malware on them, which could potentially give access to your cryptos.
The same study also showed that about half of all people who were asked to test the security of USB sticks for this experiment, mistakenly used them as unsecured memory devices!
Think Twice Before Storing Your NFT on a USB Stick
Although encrypting your data is relatively straightforward with certain versions of Windows and MacOSX (and many users opt to just store their private keys inside password-protected files), transferring coins off cold storage can be significantly more complicated. It might not be worth the effort. If you’re thinking about using USB drives, make sure they are designed specifically for secure long-term storage (like these) and ideally create multiple copies in case one gets lost or destroyed. You should also take the time to learn how to use and store your crypto safely offline.
A Simple Way to Use a USB Stick to Store NFT
If you’re looking for a way to store your NFTs (non-fungible tokens), the simplest method is by transferring them onto a USB stick and keeping that safe. With most of these projects existing on Ethereum’s blockchain, though, first create an Ether wallet – which can be done through many different platforms like MyEtherWallet or Coinomi mobile wallets before storing in something more secure than paper: hardware devices like Ledger Nano S combined with brain Sophie smart contracts are excellent ways into securing sensitive data while still providing user accessibility at any time they need access to it!
The process of creating a paper wallet is fairly straightforward:
- Visit MyEtherWallet.
- Click “Create a new wallet.”
- Choose “Software.”
- Select “Keystore File.”
Create a 15+ character password with a combination of letters, numbers, and symbols (do not forget this or you risk losing access to your wallet.)
Download the keystore file when prompted
A paper wallet is a piece of document that holds the private key for an address. This means it can be used to send or receive funds without ever revealing your identity, as long as you keep it safe from malicious attacks!
Paper Wallets are convenient because they allow users ultimate control over when and where their transactions take place by removing any dependence on third parties like banks – but don’t let this simplicity fool you: With such high levels of security comes great responsibility (and care). In order get started making sure everything’s in order first check out Etherchain which has links all across Ethereum’s ecosystem so there won’t be much work involved afterwards either; just visit sync up with other block explorers.