There are two main ways to store cryptocurrencies. If you buy them through an exchange, you have the option of keeping them there. E.g., if you buy 1 Bitcoin via Coinbase, you can simply leave it in your Coinbase Bitcoin wallet. But you can also download a wallet and store it on your computer or mobile device. There have been several wallets designed to be high-security storage methods for people with substantial cryptocurrency holdings, and some of these also let you keep your cryptocurrencies in so-called cold storages, meaning your Bitcoins get stored offline, either on a non-connected computer or by printing your encryption codes on a piece of paper. If you choose to store your cryptocurrencies on your own device, be careful not to lose your wallet’s encryption codes. If you lose your encryption keys, your cryptocurrencies might be lost forever.
Sven Franssen