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How to Keep Your Cryptocurrency Secure - A Cryptocurrency Wallet

[Image: bitcoin-wallet-sample.png]
You may wonder, “What is cryptocurrency’s way of dealing with theft and hacking?”. Naturally, you don’t have to mine coins just to get started making money with cryptocurrency. 
All you need is a Wallet app or website portal to get started. Cryptocurrency wallets are like physical wallets, in the sense that they simply “hold” private financial information. 
In this case, your wallet also calculates information for you since you can immediately withdraw or increase funds and change your balance instantly.
Because these virtual coins are digital, not physical currency, there is a very small risk of online theft, though it’s far less likely than the threat of traditional online fraud. 
Due to multi-signature encryption, every wallet company guarantees a high degree of safety for this information.
[Image: private-and-public-key-cryptocurrency.png]

There is a public and private “key” and the private key is what you need to protect. The private key consists of hexadecimal codes (a large number/letter combination).

A reasonable degree of security means you would keep this information online but count on a third party company to protect it via encryption. 
One degree of extra protection would be to hold that private key number on your person, in your house, or even at a third party site. Many companies offer to keep your private key offline completely until you’re ready to transfer funds.
There are also desktop wallets, online wallets, mobile phone wallets, paper wallets (hidden with QR codes), and offline hardware wallets. Logging into a cryptocurrency wallet is fairly easy and we’ve covered the topic more extensively for your reading.
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