How to store THORChain(RUNE) coins

For maximum security, store your THORChain (RUNE) coins in hardware wallets like Ledger Nano X and Trezor Model T, which keep private keys offline, preventing unauthorized access and malware attacks.

Dec 08, 2024 at 01:56 am

How to Store THORChain (RUNE) Coins

THORChain is a decentralized liquidity protocol that allows users to swap assets across different blockchains. The native token of THORChain is RUNE, which is used to pay for transaction fees and to participate in the network's governance.

There are several different ways to store RUNE coins. The most common methods are:

• Hardware wallets: Hardware wallets are physical devices that store your private keys offline. This makes them the most secure way to store your RUNE coins, as they are not accessible to hackers or malware. Some popular hardware wallets that support RUNE include the Ledger Nano X and the Trezor Model T.
• Software wallets: Software wallets are digital wallets that store your private keys on your computer or mobile device. They are less secure than hardware wallets, but they are more convenient and easier to use. Some popular software wallets that support RUNE include the Exodus wallet and the Atomic wallet.
• Exchange wallets: Exchange wallets are wallets that are provided by cryptocurrency exchanges. They are the least secure way to store your RUNE coins, as they are controlled by a third party. However, they are the most convenient way to buy and sell RUNE coins.

Here are the steps on how to store THORChain (RUNE) coins:

1. Choose a storage method. The first step is to choose a storage method for your RUNE coins. The most secure method is to use a hardware wallet. If you are looking for a more convenient option, you can use a software wallet or an exchange wallet.
2. Create a wallet. Once you have chosen a storage method, you will need to create a wallet. If you are using a hardware wallet, you will need to follow the instructions that came with the device. If you are using a software wallet, you can download the wallet from the official website of the wallet provider. If you are using an exchange wallet, you will need to create an account on the exchange.
3. Deposit RUNE coins into your wallet. Once you have created a wallet, you will need to deposit RUNE coins into it. If you are using a hardware wallet, you will need to connect the device to your computer and follow the instructions on the screen. If you are using a software wallet, you will need to open the wallet and click on the "Receive" button. If you are using an exchange wallet, you will need to log in to your account and click on the "Deposit" button.
4. Store your RUNE coins securely. Once you have deposited RUNE coins into your wallet, you will need to store them securely. If you are using a hardware wallet, you should keep the device in a safe place. If you are using a software wallet, you should make sure to back up your wallet. If you are using an exchange wallet, you should enable two-factor authentication on your account.

By following these steps, you can store your RUNE coins securely and easily.