From hot to cold, here are the options

After another jump in the price of major cryptocurrencies at the end of 2020, crypto enthusiasts began to mine, sell and buy currencies with renewed vigor — which means that nowadays, the topic of custodying cryptocurrencies is more relevant than ever. But unlike the past bullish waves, this time many users are also concerned with how to protect their assets.

The blockchain industry is developing, and traders have become noticeably smarter, but scammers and thieves have also become much more agile. This is also indicated by the period appearance of news related to exploits and rug pulls, not only regarding ordinary users but also large exchanges, decentralized finance projects and even nonfungible tokens.

Fraudsters use a variety of tools, from hacking accounts to creating malware. Even well-known projects do not avoid this fate. For example, Trezor recently detected fake apps on Google Play, which affected some users. And at the end of December 2020, more than 270,000 clients of the popular Ledger wallet faced threats after their personal data was exposed by a hacker.

All of this suggests that crypto enthusiasts should be exceedingly careful when choosing how to store their assets.

Buying crypto goes mainstream

In 2021, Bitcoin (BTC) has firmly established itself as a commonly accepted investment instrument and store of value, and it is now being likened to gold. This became especially noticeable when institutional investors started to explore and invest hundreds of millions of dollars — sometimes billions — into BTC.

From Jack Dorsey’s Square recently spending a further $170 million on BTC to M31 Capital filing documents with the United States Securities and Exchange Commission to launch a new Bitcoin hedge fund, crypto is going mainstream. Furthermore, Grayscale Investment’s Bitcoin trust now manages over $37 billion in BTC, which suggests institutional investors feel confident in the instrument. All of these examples work to cement crypto as a viable…

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