Storing cryptocurrency and tokens

Wallets- which one?

By SyllyBirdy | Living with Crypto | 20 Nov 2023


Seed phrases and private keys

 

To get you up to go. Wallets are merely interface which are provided to interact with the blockchain. Why what really matters are your seed phrase storage and private keys which you get whenever you opened a wallet or bind with your addresses.

The most important thing in crypto safety is keeping your seed phrase and private keys to yourself and encrypted. Never to give it to any websites or any inquiring entities. I have seen a lot of people got scammed by giving away their seed phrases.

Now we move on to the main dish of this article.

 

Lots of wallets!

Undoubtedly there's a lot of crypto wallets today of which more popular ones like Exodus, Metamask, Trustwallet, Faucetpay, Atom, Infinity and many others. Not to mention rising of new wallets like CWallet and crypto storage services that tries to offer many different benefits and specialties.

For those who just started crypto this might be confusing as to which wallet they ought to choose. The answer is, it depends a lot on an individual needs and what they are interested in, in the crypto industry.

Very vague answer I know but that is the truth to it. You will need to figure out what you want from the market to use all these tools effectively.

A big crypto investor for example may prefer physical wallets for extra security while keeping their big investment secure while small investors and scalpers have more use in online wallets and most of their crypto are temporal in storage as it is often moved or swapped around.

Things to check out for when you're choosing wallet are commission(Thankfully, most wallet providers doesn't take any commission in offering their services).

Realize the standard fees of your cryptos which you want to transact and the minimum and max sending option.

Swapping availabilities and staking options.

Once you figured out what you want from the crypto industry. Choosing your wallet would be a natural correspondence and having multiple wallets is quite common for people who invests in multiple cryptos.

Remember to keep your seed phrase safe.

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SyllyBirdy
SyllyBirdy

Adventurer of the new financial world seeking for financial freedom. Journey with me.


Living with Crypto
Living with Crypto

A blog of my own experience and analyses in the crypto and digital currency world where you can learn from my mistakes to be savvy enough to traverse into the new financial world that had dawned upon us that is digital currencies. Those who traverse this path are either enthusiasts of the new financial world or those who seeks financial freedom in it's multitudes of unexplored opportunities.

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