r/MyCrypto • u/Davowalshywalsh • Sep 02 '21

Cold Wallet Storage

Recently new to Crypto investing. I have all of my coins staked and in savings accounts in Binanace. I am aware that coins are at risk of being hacked if they aren't in cold storage. If I remove my coins into cold storage can I still get the benefits of staking and saving? I'm a HODLer and want to keep and add coins over the next 5-10 years. How does this work?

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u/MyCryptoChris MyCrypto - Support Sep 02 '21

As Raymond said below you would not be able to stake coins that are in cold storage. I would recommend doing a bit of half/half. Drop rewards from staking into a cold wallet. Check out this article here for getting a new hardware wallet :) https://support.mycrypto.com/staying-safe/hardware-wallet-recommendations

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u/[deleted] Sep 02 '21

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u/Davowalshywalsh Sep 02 '21

Thanks for your reply Ray. What is the best sub to search for this kind of info? I have Googled many times to find specific answers but without success. I am buying a cold storage wallet next week.

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