Blockchain technology is a powerful way to manage your finances in the era of information. It offers vast possibilities to transfer and spend money around the globe without the fees and burdens of a traditional government-controlled economy.
However, depending on how you use it, cryptocurrency may have its points of failure. One of the major jeopardies for a cryptocurrency holder (as well as for a conventional bank user, but that is another story) is account compromise by faking your login credentials.
In this article, we offer you a reliable and hassle-free way to protect your account with a cold wallet issued at Kvakomat ATM.
Wait, What Is a Cold Wallet?
In essence, a cold wallet is an offline account. It is a device that can hold data (like a memory stick or a card, in our case), usually encrypted and password-protected. For some wicked crypto-craving online swindler, it is impossible to get to your money without immediate access to that item. Isn’t it a solid addition to a somewhat vulnerable custodial wallet?
Are You Saying a Basic Wallet Is Unsafe?
Not at all. Generally speaking, custodial wallets are safe. However, you need to have some basic security knowledge. For example, use only strong and unique passwords and use Two-Factor Authentication. If you follow these rules, your crypto will be safe.
But the ways of ensuring your financial safety are up to you. If you feel you might become a victim of a targeted attack, there is an easy cold-wallet solution just for you. Here is how to get it:
1. To locate a Kvakomat ATM, use the interactive map.
2. Once you are near the ATM, look at the screen. Find the the Bitcoin logo displayed on the ATM's screen and tap it.
3. Select the «Buy» option.
4. If prompted, confirm that you are not a politically significant person by selecting «No».
5. Accept the terms and conditions presented on the screen.
6. Choose your preferred transaction amount, whether above or below €990.
7. If your transaction is above €990, you will need to complete verification.
See How to Confirm Your Identity on Transactions Above €990
8. Opt for the «I don't have a wallet» option if you don't already possess a cryptocurrency wallet.
9. Follow the prompts to issue an NFC card.
10. Complete the setup process as guided by the ATM's instructions and retrieve your newly issued NFC card from the ATM.
What Else Should I Know About This Wallet?
While protected from sticky fingers, a cold wallet is not so well protected against loss or destruction. That is the outcome of the cold wallet’s main feature – security through unavailability. In case your card breaks or you forget it somewhere, your money is lost forever. Unless, of course, you make a copy. You can back up your card with just your smartphone and free software. Just read the card, save the information, and store it on an external drive or a memory stick in a safe space.
As you can see, an NFC cold wallet is straightforward to get, and it greatly enhances the security of your funds. Read our Blog to learn more about cryptocurrency and the features of Kvakomat.
FAQ
What is the primary purpose of a crypto NFC card obtained from a Kvakomat ATM?
The primary purpose of a crypto NFC card obtained from a Kvakomat ATM is to enhance the security of cryptocurrency holdings. Acting as a cold wallet, the NFC card provides offline storage for digital assets, minimizing the risk of account compromise.
How can users obtain a crypto NFC card from a Kvakomat ATM?
Users can obtain a crypto NFC card from a Kvakomat ATM by following a series of steps outlined in the article. These steps include locating a nearby Kvakomat, selecting the Bitcoin logo on the ATM screen, choosing the «Buy» option, and following the prompts to issue an NFC card.
What precautions should users take to prevent loss or destruction of their crypto NFC card?
Users should be aware that while a crypto NFC card enhances security by providing offline storage, it is susceptible to loss or destruction. To mitigate this risk, users are advised to create backups of their NFC cards using their smartphones and free software, ensuring the safety of their digital assets.