Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Help and Support

How Do You Store and Protect Your Cryptocurrency?

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more about the risk involved.
[Approved by Archax 16/05/2025]

Important: We are aware of an issue where iOS users may be unable to view the individual crypto assets in their portfolio. This is a known display issue only — client assets remain secure and unaffected. A resolution has been submitted to the App Store and will be deployed once approved.
Please check for updates and install the latest version of the app to resolve the issue once available.

What are crypto wallets?

Crypto wallets don't store your cryptocurrency. Instead, they store the private keys you need to access your holdings on the blockchain.


Important: If someone gets your private keys, they can take your cryptocurrency.




How do you choose the right wallet type?

Based on who controls your keys: Custodial vs. Non-Custodial Wallets

Custodial wallets are managed by third-party services such as cryptocurrency exchanges or financial institutions. These wallets hold your private keys on your behalf, similar to how a bank holds your money.

Non-custodial wallets give you direct control over your private keys, providing full autonomy over your cryptocurrencies. These keys are often combined into a Recovery Seed phrase—a collection of 12-24 unique words that enable access to all funds in the wallet if lost or stolen.

Type
What it means
Best for
Examples
Custodial
A company holds your keys
Beginners who want simplicity
Exchange wallets (Coinbase, Uphold)
Non-custodial
You control your keys
People who want full control
MetaMask, Trust Wallet, Exodus




Based on internet connection: Hot vs. Cold Wallets

Hot wallets are connected to the internet, making them more convenient for frequent trading or spending but potentially more vulnerable to online attacks. Examples include mobile and desktop wallet applications.

Cold wallets store private keys offline, significantly reducing the risk of hacking. These include hardware wallets (physical devices that store keys offline) and paper wallets (physical documents containing key information). Cold wallets are recommended for storing large amounts of cryptocurrency that you don't need to access frequently.


Type
What it means
Best for
Security level
Hot wallets
Connected to internet
Everyday use, smaller amounts
Medium
Cold wallets
Stored offline
Long-term storage, larger amounts
High




How Do You Protect Your Cryptocurrency?

If you use a non-custodial wallet:

  • Save your recovery phrase in a secure, offline location
  • Never share your recovery phrase or private keys with anyone
  • Use a strong password and two-factor authentication
  • Back up your wallet information

If you use a custodial wallet:

  • Choose reputable providers
  • Enable all security features
  • Use unique passwords
  • Be alert for phishing attempts


The cryptocurrency landscape continues to evolve rapidly, making ongoing education and adaptability essential for anyone entering this space.




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