Cryptocurrency is one of the best occurrences that could happen at this age, especially the underline technology, Blockchain which is transforming every phase of the society. Even the development is still budding, cryptocurrency has been faced and still facing many difficulties. There is difficulty with acceptance, which is still gradually being defeated but is still unfazed. However, the rate of acceptance is slowly increasing in the world.
Another problem that is facing cryptocurrency in the world is volatility, which is still subjected to the rate of its acceptance by institutions and the society at large.
Hacking and scams is another known factor facing cryptocurrencies. With about $673 million stolen through the hack of exchange and wallets in the first quarter of 2018, it shows the crypto world has a big challenge at its hand. Likewise is the numbers of Fake ICO offerings and Ponzi scheme in which many have lost millions in 2018 and previous years.
With an increasing number of investors in cryptocurrency and also its awareness, there is a need for taking measures to avoid and conquer inherent problem also known to the society.
The Cold Coin Storage Wallet
One of the best means to get safety from cryptocurrency hack is through cold storage wallets. The cold coin storage wallet is a type of cryptocurrency hardware wallet that helps to store cryptocurrency securely offline, from the reach of a hack.
Cold coin storage wallet is made of precious metal such as silver, copper or gold, and also imprinted on the back is a QR-coded unique wallet ID and a private key. The features make it water and fire resistant making it more secured.
Cold coin storage wallet is hack proof, with the QR code serving as the user’s wallet address and it is imprinted with a holographic sticker at one side of the coin.
It is very reliable because it does not need external hardware for it to be put to use. The offline usability has made it even more superb.
According to Rob Gray CEO of Cold Storage Coins, he says,
“Like a porcelain piggy bank you can send as much Bitcoin as you want, and then when you are ready to use it, peel off the sticker, scan in the private key right back to you hot wallet, and voila you can use Bitcoin in any way you would normally.”
Presently you can order from https://coldstoragecoins.com/.
Though this is off the reach of cyberpunks online, it’s also important to note that it could be stolen physically. So owners of the coin would need to have it kept aside in a safe place.
One beautiful thing about this is, it gives people the opportunity to explain Bitcoin better, especially to those of the older generations who do not easily relate to digital things. This way, some value of cryptocurrencies can be stored on the coin and handed down physically to anyone to see and experience how it works first hand.