Similar to buying bitcoin, the best way to store bitcoin will depend on your individual wants and desires. If you prefer convenience over security, a mobile wallet such as the blockchain wallet (IOS, Android) is probably what you’re looking for.
If you’d rather store your bitcoin on a desktop or laptop, I’d recommend the wallet Exodus.
Mobile wallets are a great way to store your cryptocurrency especially if you plan on spending it throughout the day. Upon set-up you’ll most likely be given a set of (12-24) words which will act as a recovery phrase in event you damage or lose your phone.
So no need to worry about losing your cryptocurrency. So long as you have your recovery phrase, you’ll be able to recover your cryptocurrency.
For Android, and IOS users I recommend the Blockchain Wallet app
Desktop wallets are another great way to store cryptocurrency. In my opinion, Exodus is one of the best desktop wallets available on the market. Not only is free to use, but they have great customer support and the wallet itself looks beautiful!
Exodus is a very versatile wallet which has support for over 35+ cryptocurrencies and has a built in exchange feature.
For more information on Exodus, be sure to checkout my overview of the Exodus wallet.
Hardware Wallets (AKA Cold Storage)
Hardware wallets are one of the safest forms of cryptocurrency storage. This is because in order to access your cryptocurrency, you must have physical access to the device.
This is the Ledger Nano S. As you can see, not only do you need physical access to the device, you also need to input your PIN number correctly (which you set upon device set-up).
Only then can you access your crypto through the Ledger Nano S software, Ledger Live.
This no doubt, a premium product so it will cost some $$$. The cost alone is worth it for the peace of mind. I recommend the Ledger Nano S to anyone who is serious about cryptocurrency. It really is an essential item to have.
Final Thoughts, Conclusions
There are many different ways to store your cryptocurrency. The best way to store bitcoin will depend on your individual wants and desires. It really comes down to a preference of convenience or security. Personally, I like to mix up my storage methods. I use a combination of software and hardware wallets both for convenience and security.
Don’t take my word for it, do your own research and as always, thanks for reading!