There are two storage options for cryptocurrencies: hot wallets and cold wallets.
Cryptocurrency hot storage wallets are directly connected to the Internet. For example, they are connected to a phone app, desktop program, or online provider. This is convenient at the expense of being free. The downside is the security threat because they are connected to the Internet and are potentially vulnerable to online theft.
Cold storage crypto wallets are small, encrypted, portable device that allows you to download and carry bitcoins and other cryptocurrencies.
Cold wallets cost about $100, but digital money is stored offline. They are considered much more secure than hot wallets. For example, the Cratos cryptocurrency wallet is of the cold storage type. It will take some time and communication with the operator to deposit or transfer funds, but you can rest assured that your funds are safe and insulated from Internet hacks and threats.
Cratos cryptocurrency wallet service uses Multi-Sig technology. It allows you to safely store most of your assets offline in cold storage systems, but there is quick access to the wallet similar to hot storage type access.