The main challenge for those who want to purchase crypto is the safe storage of their funds. Cold storage is unavailable in most crypto wallets since some are intended only to handle small daily transactions like hot wallets. Also, the cost of hardware wallets makes it unaffordable for most users. This article will answer the question of can you put crypto on a USB drive safely?
As the crypto world grows, the USB drive is a crypto storage option that is affordable and readily available for everyone, offering excellent security for funds. Many crypto wallets and keys do not keep the whole blockchain, and 1GB is sufficient for most of them. Here’s how to keep crypto on a flash drive.
Does Crypto Work on a USB drive?
USB drives have become reliable cold storage for cryptocurrencies. They are convenient and simple hardware wallets that do not store coins but store your private keys and credentials for accessing your funds. You can also set up an offline wallet on the USB drive and use it to make transactions.
The flash drives, such as the NVMe USB drive, are among the safest ways to store cryptocurrency today. USB drives are cold storage, meaning they do not have internet access, which makes them safe from theft and attacks. Furthermore, the flash drive is encrypted, ensuring the security of your private keys.
The Five Steps of Putting Crypto on a Flash Drive
The process of putting crypto on a USB drive is easy. All you need to do is save your key on the flash drive and encrypt it. But it is not a good idea to depend on just one copy of your keys, so keep them in multiple locations. Though the process sounds simple, it takes the following five steps of preparation:
1. Set up a bootable flash drive
Installing a portable Operating System (OS) on your USB drive is the first step toward preparing it for crypto storage. The USB drive should have encryption and security features that protect your funds from cyber criminals. You may install Tails to encrypt and use an empty, formatted flash drive without any files.
2. Choose your favorite Crypto wallet and download It
There are different wallets for different operating systems, but select a wallet that offers cold storage and install it on your computer. Using this computer, you will create and sign transactions for moving funds into and out of your cold wallet.
3. Turn off your computer’s internet connection
Before installing the software onto the flash drive, you must turn off the computer’s internet connection. You can do this by disabling the desktop connection or directly unplugging it before connecting the USB drive. Always connect your USB drive to computers without an internet connection.
4. Download the wallet software to the USB drive
The installation takes a few minutes, and you need to connect your cold wallet to the USB drive. Select your USB drive as the location to install the crypto wallet. Create a strong password and seed phrase to protect your wallet. You may also change the wallet settings.
5. Move the crypto keys from the hot wallet to the flash drive
Transfer cryptocurrency from your hot wallet to your cold wallet through the generation and signing of transactions. When your wallet initiates a transaction, your cold wallet does not require the USB drive because the funds are already available on the blockchain.
You can put crypto on the flash drive, an efficient and safe way of storing cryptocurrency. Use these five steps to keep your crypto wallet. Whatever crypto wallet you choose, the USB drive will secure and conveniently store your coins.