A cold wallet or offline wallet is considered the best way to store and use cryptocurrency. It is an encrypted device designed as a single access point for your crypto coins and digital currencies.

The advantage of using a Cold Wallet is that it is accessible only by you and no one else. These types of wallets are also known as hardware wallets and they act as a vault for your cryptocurrencies.

Unlike hot wallets, cold wallets are not connected to the internet. This is what makes them safer and better. This post will cover information about cold wallets and how they can be helpful.

Reasons To Use A Cold Wallet

Using cold wallets to store your crypto coins can be beneficial to you in many ways. If you are using this type of wallet for the first time, you should take note of the pointers below.

1. The private key is not exposed

When using a cold wallet, you don’t need to expose your private key online. The only place it is required is on your encrypted hardware device. This keeps your private key safe from hacking and cyber threats.

2. Can store multiple cryptocurrencies

Cryptocurrencies don’t occupy a lot of storage space. There’s no limit on the number of crypto coins an offline storage system can store. Some cold wallets allow you to store multiple crypto coins at the same time.

3. Pin protection

The best thing about cold wallets is the pin protection. Let’s say, someone gets hold of your cold wallet and tries to open it. Without the pin code, the person cannot access your cold wallet. After 3 attempts, the person will automatically get locked out.

4. Transaction verification

Every cryptocurrency transaction you make needs to be verified via your cold wallet. So, without gaining access to your encrypted cold wallet, no one else can make a transaction. Just keep the device hidden and away from everyone’s reach.

5. No virus

Most viruses are designed to impact system software. But since a cold wallet is a hardware-based device, it will remain unaffected by viruses. With cold wallets, you don’t need to worry about the safety of your crypto coins getting compromised.

Cold wallets have been around for many years. If you are a regular crypto investor and need a crypto storage wallet, you should go for a cold wallet.

Crowdfunding is a process in which a large number of people contribute small amounts of money to raise a large sum. The rudiments of crowdfunding have existed in India for a long time. However, organized and effective online crowdfunding in India came into being in the last decade.

Crowdfunding can help raise money for a lot of things. You can use crowdfunding to raise money for someone’s medical treatment, for social causes and for business ideas. There are four kinds of crowdfunding: donations based crowdfunding, rewards-based crowdfunding, debt crowdfunding, and equity crowdfunding.

Depending on the reason for your crowdfunding campaign and the type of campaign you choose, your strategy for the campaign will differ. Here I have tried to write down some tips for medical, social and business campaigns.

Medical Campaigns

If your fundraising in India project is for medical reasons, there are certain things that you can do:

1. Find a crowdfunding platform that has experience in dealing with cases of medical crowdfunding. Impact Guru is one platform that does this.
2. Write a fundraiser which is clear and short explaining why you need to crowdsource your medical treatment. Explain your financial condition and the nature of the illness.
3. In your fundraiser, you should use text, image and video to explain your situation. Post pictures of medical documents in order to build credibility.
4. Post a video of the patient delivering a message if they are in a condition to. Otherwise, find a way to talk about the illness yourself.
5. Use social media and a team to campaign for publicity.

Social change is often possible through crowdfunding. Many NGOs have taken to crowdfunding in order to raise money for their various projects. This has become quite common after the recent government crackdown on foreign funding to NGOs.

1. Choose a crowdfunding platform experienced with the kind of campaign you want to do.
2. Write a fundraiser effectively detailing your project and what you want to do.
3. If you have done projects like this before, provide links and other evidence to them.
4. Fully use images and videos for your campaign.
5. Make a campaign video that summarizes the goals of the campaign and post it with links everywhere.
6. In order to make the campaign video, you can use professional help. This might require money but the returns you get on this will be far more.
7. Use social media to the highest degree in order to raise money.
8. Know the people who are likely to donate to your cause. If you are working for child rights, other child rights activists are likely to donate to your cause.

Things differ a little bit for business crowdfunding. Business crowdfunding is done with a profit motive and is very helpful for startups. If you want to raise funds for business crowdfunding, you should be able to write an effective crowdfunding pitch. You could go for equity crowdfunding or for rewards based crowdfunding, if you are not based in India. In India however, equity crowdfunding has been put on hold by SEBI.

1. Find a website that is willing to host your crowdfunding campaign. Some websites are selective and some are not. Choose the ones you like and then select the one which likes you.
2. Write a good pitch. Explain exactly what your product is going to be and why you think it has a market.
3. If you are going for rewards based crowdfunding, explain why your product is unique and better than its competitors.
4. If you are going for debt crowdfunding, explain clearly why you think you will be willing to return the loan with interest.
5. Use social media to raise as much money as possible. However, do not exclude conventional forms of communication, when you go into campaign mode.