Protect Your Crypto Assets: How to Securely Store Cryptocurrency on a USB Drive

Have you fallen victim to losing your crypto assets, or have there been some attempts through malicious links to access your crypto wallet?

There are a lot of victims in this category; while some lose their assets to hackers, others forget or lose their keyphrases or private keys. Back in 2022, I was trying to build my crypto portfolio through the buying and storing of coins and tokens.

I actually did wrong; I didn’t take security measures, and I lost my precious assets through malicious links. How could I? You don’t want to be like that, either.

As cryptocurrency grows, so does the importance of safeguarding this digital asset against hackers.

One of the methods of ensuring the safety of your cryptocurrency assets is by storing them on a USB drive.

In this article, I’m going to explore how crypto assets are secured and how you can securely store cryptocurrency on a USB drive. This looks unreal, right?

Let’s delve into it!

What is Cryptocurrency and What makes Cryptocurrency secure?

Is this your first time hearing the word cryptocurrency? Cryptocurrency is a digital asset or currency used for different purposes; it can be used for the buying and selling of goods and services, storing for future reference as an investment, and so on.

Though there are a lot of crypto currencies out there on the market, these are classified differently as they serve different purposes.

Bitcoin was the first crypto currency, and all other coins and tokens after bitcoin are called alternative coins or altcoins. Since we now have a clue as to what cryptocurrency is, let’s delve deeper into what makes cryptocurrency secure.

How Is Cryptocurrency Secure?

Cryptocurrency is secured through a system called cryptography. This might sound complicated, as it was when I started my journey into the crypto space, or rather, Web 3.

Let’s simplify the term “cryptography.” This system secures crypto assets through encryption, public-private key pairs, hashing function, and the process of making sure crypto assets are not double-spended or counterfeit.

With this system, crypto, like bitcoin, can never mint fake bitcoin into circulation or someone using 1 bitcoin to purchase goods several times, e.g., Mr Justice bought 1 bitcoin at the rate of $62,000 and sold/swap for 18.23 ETH at the rate of $3,400 per ETH.

Now that one bitcoin, Mr. Justice Sold, is destroyed and a new bitcoin is minted into the bitcoin supply, it is impossible to double spend.

If Paraventure Mr. Justice wants to buy back bitcoin from the market, it’s buying new bitcoin from the supply, not the bitcoin he sold.

This is one of the reasons crypto currencies stand out among other currencies, like fiat currencies and others.

More importantly, most crypto currencies are on a decentralized network called the blockchain, which is a composite of computers from different networks securing the blockchain.

Also read: 22 Coins To Buy Now Before The Next Crypto Bull Run In 2024

No one can temper transactions on the blockchain, just like in the traditional system of storing data, which can be tempered by an individual or centralized authority.

Moreover, there are other ways cryptocurrency is secure aside from cryptography, which include decentralization and blockchain chain technology, as stated previously.

Since we now understand how and what makes cryptocurrency secure, let’s delve into how you can securely store your crypto assets using a USB drive.

How To Store Crypto On A USB Drive

While there are numerous ways of storing cryptocurrency, the most secure way of storing your precious digital assets, or “cryptocurrency,” is through a USB drive.

I know this might sound complicated or rather funny to you, but trust me, it is not.

Let’s discuss why. Which is a strong reason. Cryptocurrency exchange and an online wallet might be okay to store crypto assets, which might be convenient for you.

Storing a cryptocurrency on a USB drive is also known as cold storage, as this reduces the risk of unauthorized access and cyber hackers.

Crypto exchanges and online wallets are open to hackers or malicious links or software, trust me.

I lost my crypto asset through malicious links while trying to run a popular crypto airdrop back then, and this was a big loss to me then.

However, I’m sure you don’t want to be like me, so here’s a step-by-step guide on how to store crypto currency on a USB drive.

• Firstly, you need to look out for a reliable crypto USB drive that is built on a reputable, trusted, and tested brand with good customer service support.

Also keep security in mind; make sure the one you’re acquiring or have acquired has built-in security, which is very vital. Also, make sure the device (USB) offers encryption and a password to protect your cryptocurrency token or coin against scammers or hackers.

• The next step is creating a secure wallet to hold your cryptocurrency assets. Before attempting to transfer any of your assets, make sure you have a secured wallet application or software on your computer.

You must choose a wallet that supports the cryptocurrency assets you want to store, and you must also make sure it has backup and recovery features.

• The third step is generating your private keys. To better secure your account, when setting up your wallet on the USB drive, generate very strong and unique private keys for your account.

Private keys are very vital; these keys enable you to manage and access your funds, so it is very important that you keep them in a safe place.

Private keys are unique letters used in securing your wallet; anyone who has them can easily access your account. It is important that you write them down and keep them in a safe place where no one can access them except you.

• Now that your wallet is fully created, the next step is to transfer your cryptocurrency assets to the USB drive and disconnect it from your computer.

This is referred to as offline storage. This offline storage method, combined with encryption and password protection, provides strong security against online hackers or malicious links.

• As you’ve done all this, the next step is backing up your account. It is very important to prevent the loss of your cryptocurrency assets due to hardware failure or damage.

Backups help when, in any case, your USB drive is faulty or damaged. Always backup your account regularly. You can do this with anything you send in crypto to your USB drive.

You can back up your wallet data onto various USB drives or external storage devices. Make sure you store these backups in a secure place to avoid losing them.

Conclusions

In our world today, where hackers are more prevalent, securing your crypto assets by storing them on a USB drive is very vital, as it carries a safety risk.

Following all these steps mentioned previously, the best way to secure your crypto assets is by storing them on a USB drive.

You’re one step safer than 70% of crypto investors who still store cryptocurrency online. Let me know in the comments section if you’ve been storing your crypto assets.