Properly Storing Your NewYorkCoin (Coinomi & Cold Wallet)

If you have decided to purchase or trade for a decent amount of NewYorkCoin, but you need to know the best practices to securely store your newly obtained NYC, here are the 2 best ways to store your coins so that you can keep them safe and secure.

1. Coinomi (Google Play Store + Apple App Store)

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The Coinomi app is not only one of the best storage means for your NewYorkCoin, but for many other altcoins as well. At NYCFlash, we recommend Coinomi as it is the easiest way to store your coins allowing you to send and receive as you desire without any fees associated with transfers. Ensure that when you initially download the app, you go into the settings for your newly created NewYorkCoin wallet and set the fee schedule to 0, otherwise it is set to 1 NYC as adonation to the app developer. This ensures blazing fast, fee free value transfer, to anybody in the world, so long as they have the Coinomi app or any other NYC wallet address.

2. Paper Wallet

The second easiest and most secure way to store your NewYorkCoin is with a paper wallet. A paper wallet includes a private key associated with a QR code that you should protect with your life (as it is literally the key to your coins) as well as a public key that you can share with others to receive NewYorkCoin to the paper wallet, where it will remain secure and stored until you move it elsewhere. Coins can be moved from a paper wallet to Coinomi at any time by using the Sweep Wallet feature provided in the Coinomi app.

Here is an example of the paper wallet format below.

When you generate a new secure paper wallet by generating randomness over at you can then access the paper wallet under the “Paper Wallet” tab once generated, it’s quite the interesting process, the blank white boxes on the example wallet below will be filled with a public and private key, along with the associated QR code for ease of use. You will then be provided with the opportunity to print this wallet or save it as a .PDF file for later printing. If you are a security hound, this is the route for you, as the only way to access the stored coins is with the private key on the paper wallet.

All in all, either of these ways are ideal for storing your newly obtained NewYorkCoin, as we highly advise against keeping any amount of cryptocurrency on an exchange for any period of time unless you are actively trading said cryptocurrency. Thank you for reading.

I hope this info helps you better understand how to store NewYorkCoin securely, effectively and easily.

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