How to store ASTR coins

To safeguard your in-game assets, securely store your ASTR tokens in a hardware wallet, software wallet, or exchange wallet, considering their varying levels of security and convenience.

Nov 18, 2024 at 04:35 pm

How to Store ASTR Coins

Introduction

ASTR is the native token of the Star Atlas metaverse, a AAA space strategy game where players can explore and conquer the stars. With a limited supply of 10 billion tokens, ASTR is used for a variety of in-game activities, including purchasing land, ships, and equipment. As such, it is essential to store your ASTR tokens securely to protect your investment.

Choosing a Storage Option

The first step in securing your ASTR coins is to choose an appropriate storage option. There are several different options available, each with its advantages and disadvantages:

• Hardware wallets: Hardware wallets are physical devices that store your private keys offline, providing a high level of security. They are immune to malware and phishing attacks and are generally considered the most secure option for storing cryptocurrencies.
• Software wallets: Software wallets are digital applications that store your private keys on your computer or mobile device. They are more convenient than hardware wallets but less secure, as they can be vulnerable to malware and phishing attacks.
• Exchange wallets: Exchange wallets are provided by cryptocurrency exchanges and allow you to store your assets on the exchange's platform. While convenient, exchange wallets are less secure than hardware and software wallets, as they are controlled by the exchange and are therefore subject to hacking and other vulnerabilities.

Setting Up Your Storage Option

Once you have chosen a storage option, you will need to set it up. This process varies depending on the type of wallet you are using:

• Hardware wallets: To set up a hardware wallet, you will need to connect it to your computer and follow the on-screen instructions. You will need to create a pin and a recovery phrase, which will be used to recover your wallet if you lose it or it is damaged.
• Software wallets: To set up a software wallet, you will need to download the wallet software from the developer's website and install it on your computer or mobile device. You will then need to create a new wallet and set a password.
• Exchange wallets: To set up an exchange wallet, you will need to create an account on the exchange and follow the on-screen instructions to deposit your ASTR tokens.

Transferring Your ASTR Coins

Once you have set up your storage option, you will need to transfer your ASTR coins from the exchange where you purchased them to your wallet. To do this, you will need to:

• Generate a receiving address: From your wallet, generate a receiving address for ASTR. This address will be used to transfer your tokens from the exchange to your wallet.
• Withdraw from the exchange: Log in to the exchange and navigate to the withdrawal page. Enter the receiving address you generated in your wallet and the amount of ASTR you want to withdraw. Follow the on-screen instructions to complete the withdrawal process.

Storing Your ASTR Coins

Once your ASTR coins have been transferred to your wallet, you will need to store them securely. To do this, you should follow these best practices:

• Use a strong password: Use a strong and unique password for your wallet. Avoid using common words or phrases that can be easily guessed.
• Store your recovery phrase safely: Your recovery phrase is used to recover your wallet if you lose it or it is damaged. Store your recovery phrase in a safe place and keep it confidential.
• Enable two-factor authentication: Enable two-factor authentication for your wallet to add an extra layer of security. This requires you to enter a code from your phone or email every time you log in to your wallet.
• Keep your wallet software up to date: Keep your wallet software up to date to ensure that it is protected against the latest security vulnerabilities.