Guide : How To Buy Cryptocurrency In Australia

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Secure Storage - For Wallet & 2FA Backups

Secure storage location – you will need a location to store important details relating to your wallets and your exchange accounts, and your wallet backups. By secure I mean somewhere it isn’t going to be subject to;

  • Permanent loss – like theft, fire or hardware failure
  • Unauthorised access – think unsecured hard drive, basic flash drive, piece of paper


Option 1Encrypted cloud storage – you can use a free or paid Dropbox, OneDrive, Google Drive, (iCloud lol, probably not) account to store your files. But to ensure that no unauthorised access of your cloud account will affect your cryptocurrency, you should only store encrypted versions of your files in the cloud. For example you can use a free tool, AxCrypt... to encrypt your files locally before you send them to the cloud. When you want to access the files you should download them and decrypt them locally. This way the cloud provider never has access to any of your information so even if they have a data breach, which is common, you are safe.

USB Drive

Option 2Secure thumb drive – If the above method is a bit too technical for you I would recommend at the very least storing your files on a secure thumb drive. This will stop anyone but you accessing the files, but don’t lose it or forget your code! I recommend something like this, even if you do have Encrypted cloud storage. Corsair Padlock 3 16GB Secure Flash Drive...

Next : Two Factor Authentication (2FA)