Once you buy cryptocurrencies on Gatecoin, they are stored in your Gatecoin ‘wallets’.
These ‘wallets’ actually store the secure digital keys used to access your public cryptocurrency/token addresses and sign transactions.
Most of Gatecoin's wallets are managed in cold storage, which means that they are stored on multi-signature hardware devices that are not connected to the Internet (air gap). This solution is one of the most secure options for storing your cryptocurrency.
However, we strongly recommend that you store the majority of your funds in your own secure wallets, outside of our exchange.
Here are some options:
Desktop wallets store your cryptocurrency on your own computer and allow you to control the security level. However, that also means that you need to install software than can take up a lot space since you have to download and update the blockchain. Light clients enable you to avoid this.
Web wallets hold the blockchain information so you don’t have to, are easy to use for transactions, and are a way to keep your cryptocurrency in another location for safety. They are, however, less private, and it is best to use services with security features such as Yubikeys and Google Authenticator to protect your account.
Mobile wallets allow you to bring cryptocurrency with you in your pocket. You can exchange coins/tokens easily and pay in physical stores by scanning a QR code or using NFC "tap to pay". As with web wallets, they are less secure than desktop wallets, so please install two-factor authentication tools such as Google Authenticator.
Hardware wallets are the most private, they are small computers or smartcards built with the sole purpose of generating cryptocurrency private keys offline. Hardware wallets securely sign transactions in the same offline environment.
With these solutions, the security of your bitcoin and ethereum tokens depends on your computer, browser or mobile device not being compromised. You are your own bank.
No matter how you decide to store your cryptocurrency or tokens, we strongly recommend backing up your private keys.
The most secure solution is to copy your private keys on a simple piece of paper and lock these in a physical safe in a discrete location.