Hello,
A cryptocurrency wallet is a tool for storing your private keys and public keys thus enabling you to send and receive cryptocurrencies supprted by your wallet.
Note that it doesn't actually store your cryptocurrencies. They are stored on their respective blockchains.
There are three main types of cryptocurrency wallets: Software wallets, Paper wallets and Hardware wallets.
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Software wallets:
There are three types of software wallets:
- Browser wallets: these are accessed on a website. Popular ones are Blockchain and Coinbase. They are very convenient but not safe since you can be hacked and lose your cryptocurrencies.
- Desktop wallets: these wallets need to be downloaded to your computer. They can only be accessed from your local device but they can be hacked as browser wallets.Popular ones are Atomic and Exodus.
- Mobile wallets: No wallet beats mobile wallets when it comes to comfort but they are the least secure from all the wallets. Examples are Coinomi, Atomic and Edge.
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Paper wallets:
With Paper wallets, you just need to take care of a piece of paper. It is a very safe way to store your public and private keys. You just need to print out those keys on a paper and store it in a safe place. The keys can also be printed in the form of QR codes.
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Hardware wallets:
Hardware wallets are the safest way to store your keys. They look like small USB devices. Some hardware wallets you can use are :
- Trezor
- KeepKey
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Talk to you soon.
