One of the best places to store Step Finance (STEP) is in an encrypted hardware wallet like those made by Ledger. Hardware wallets use extremely high end encryption techniques to keep your funds safe and secure from sophisticated network attacks or even simple phishing scams that users keeping their funds in a software or website wallet may encounter. Hardware wallets even allow users to recover funds via a mnemonic seed phrase just in case the wallet is stolen, damaged or otherwise compromised.

Ledger have entry level models available for around $50-$60 USD with the Ledger Nano S and Ledger Nano X being the most popular hardware wallets on the market today. Both hardware wallets are capable of storing Step Finance (STEP), keeping it offline and secure.

Step Finance (STEP) can be stored in Phantom Wallet, a wallet with Android, iOS and several desktop versions available. Phantom Wallet supports over 300+ cryptocurrencies including STEP and all other SPL tokens. Phantom Wallet also supports NFTs and a built-in Exchange which users can use to swap back and forth between all of the assets supported, including Step Finance.

Wallets that offer both mobile and desktop versions are extremely convenient but can also be less secure simply due to the Team having to ensure no exploits are present on all versions. In our opinion it is essential that you only install a desktop wallet on a clean, secure machine that has little to no access to the Internet. Mobile wallets are often regarded by some as safer due to malware not being as prevalent on mobile operating systems.

Step Finance (STEP) can be sent directly to your Phantom Wallet along with any other SPL coins you with to keep safe and the Team are constantly adding support for new coins. Visit the official Phantom Wallet Knowledge Base in case of any issues.

If you’re an active Trader who requires quick access to funds, you can also store Step Finance (STEP) on an Exchange that supports it. While we cannot recommend leaving any funds on Exchanges at any time, Exchanges such as Binance, Kucoin and Huobi have a long history of security and have been reliable to their Customers even after an attack.

Exchanges such as Binance and Kucoin do offer staking services to Customers who rely on them to keep their funds safe which has made this a more attractive option for those who wish to run less wallets or cannot meet the full requirements to stake.

While we’ve seen funds returned to Customers after hacks in the past, keeping any amount of Step Finance (STEP) in the care of a third-party will always inherit a certain amount of risk, which can be avoided with some of the previously listed solutions.