A cryptocurrency wallet is basically a software program that stores your private key and public address and lets you receive and send digital currency. These are used for the purpose of storing digital currency, managing transactions and key storage. In this article, I am going to tell you about the different types of cryptocurrency wallets and how you can use them. The list below is in no particular order and shouldn’t be considered as a ranking list.
Types of cryptocurrency wallets:
These are hardware devices which are built to handle private keys and public addresses. This device can be operated without batteries. You can use these by connecting it to a PC or mobile device via USB. Though expensive, hardware wallets are considered to be the safest among all kinds of wallets.
Paper wallets are a little more technical than hardware wallets. In a paper wallet, you just store your private keys and public addresses on a piece of paper and start transferring your coins to it. It keeps your private keys offline. Therefore, it is a safe way of storing your cryptocoins.
These are desktop software packs that you can install on your PC, Mac or Linux. Before installing this software, make sure that your desktop/laptop has antivirus or anti-malware protection enabled. Without them, you will risk getting hacked and robbed of your digital coins.
These are phone applications which you can access any time from anywhere. These are the most widely used wallets right now as it is easily available and really easy to use. There are mobile wallets compatible with both Android and iOS devices.
These kinds of wallets are connected to the internet. These are cloud-based wallet. You can access them from multiple devices via internet connection. You can access these via browsers like Firefox, Google Chrome, etc. Because this kind of wallets run on cloud, these are susceptible to security threats. You need to be extra cautious when choosing a wallet provider for this kind of service.
Which among these Crypto wallets should you choose? Well, it entirely depends on you. Long story short, you need to choose something that you can trust and stick to. Just make sure not to compromise on security and you will be fine. To stay updated on the latest news from the world of cryptocurrency, check this website. Keep yourself updated about the latest cryptocurrency events, meetups and release updates to make sure that you make the best out of your investments.
I hope you found this post useful and informative. If you want to know more about cryptocurrency wallets, let me know in the comment section below. Also, let me know your suggestions and questions about cryptocurrency and blockchain. Share your tips with me if you have any. I will be glad to get in touch with you. To show your support, share this post with your friends on social media and elsewhere. Thank you very much for reading!