Securing your cryptocurrency storage starts with selecting the appropriate software wallet. Using multisig wallets, 2FA and password managers are further steps.
Software wallets enable crypto users to access digital assets at any time and from any location. However, the same connectivity also makes these wallets vulnerable to hacks and thefts. The security of software wallets is dependent on the user’s compliance with advised digital safety procedures and the wallet’s built-in security measures.
Digital assets such as cryptocurrencies and nonfungible tokens (NFTs) face a plethora of security issues, such as malware designed to steal money and phishing schemes that try to obtain critical data. One needs to cultivate an adequate understanding of security standards to use software wallets safely.
This article describes what software wallets are and how to choose the right software wallet. It discusses the process of installing a software wallet and how to manage it securely.
