For security reasons, users should keep most of their cryptocurrencies offline in cold wallets, while only moving what they need to meet their short-term obligations in active wallets. The process of storing most cryptocurrencies offline in cold wallets could be similar to what is already common with fiat currencies. Most cryptocurrency holders use hot and cold wallets. Hot wallets are useful for frequent trading, while cold wallets are better for holding crypto assets for the long term.
Here, the private key is stored on your computer, which is extracted with the help of a password. Unlike Trezor, Metamask allows you to create your password, in case you forget it or tell someone else. You don't need to have technical knowledge to access and use Ledger Nano. Even a person with little or no experience can access and use other applications in this wallet.
Exodus allows you to synchronize your Trezor wallet with your interface and use your hardware wallet as software. In addition, you can have an additional security option to ensure that your keys are safe from external threats. Coinbase makes it easy to buy and sell cryptocurrencies, such as Bitcoin, Ethereum, Cardano, Dogecoin, and more. It's a comprehensive solution for all crypto wallets, since you can link your hardware wallets, exchange different currencies and make payments from a single interface.
As an optional last step, you can decide to link a hardware wallet to your MetaMask for greater cold storage security. Remember that cold storage wallets store your private keys regardless of an Internet connection on a USB device or similar to a USB stick. Two of the most reputable and widely used hardware wallets are Ledger and Trezor. While MetaMask and other web wallets are great for storing smaller amounts of cryptocurrency, you may want to invest and link your MetaMask to a hardware wallet for larger sums.
Hardware wallets are the most secure way to store Ethereum. A hardware or “cold wallet” is a physical offline device that stores keys. This makes them extremely difficult to hack.