What wallets do crypto investors use and how do they store their keys

On April 30, a PhD applicant posted on Reddit the results of a survey thataffects the security of bitcoin storage.

The survey showed that most owners of bitcoins store their coins in hardware wallets, and also keep backups of private keys on a piece of paper.

A Reddit user with the nickname gunnaj interviewed 339 people, focusing on ways to store private keys.

It turned out that almost half of these hodlers, 158the people interviewed use hardware wallets such as Ledger, Trezor, and Coolwallet. Hardware wallets allow you to store both user coins and private keys.

“Which wallet do you keep most of your bitcoins in?”

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“Do you have backup copies of the keys?”

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“How do you keep backups?”

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Approximately 88% of respondents said that they have backup copies of keys, while 238 people use paper for this.

Long gone are the days when storage methodsthere were not many keys. For example, it could be a notebook in which addresses were recorded manually. Changpen Zhao, CEO of cryptocurrency exchanges Binance, also previously expressed the opinion that exchange wallets are better suited for this.

However, cryptocurrency exchanges are known toprone to hacking. Users who physically store keys also take their own risks. Thousands of bitcoins were lost due to the fact that their owners were carelessly handling keys, or their equipment containing these keys was broken.

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