Cryptocurrency wallet

about cryptocurrency wallet

A cryptocurrency wallet is a software for storing ,sending and receiving different cryptocurrencies.

Categories of cryptocurrency wallets

A cryptocurrency wallet can either be online or offline.

1.Online cryptocurrency wallet

Online cryptocurrency wallet enables cryptocurrency holders to store their cryptocurrencies from a given cryptocurrency wallet provider website. An individual can be able to get access to their account in the present of the internet. In order to get access to your account, one must log in using their email and their password. When this takes place, one will be able to get access to their several cryptocurrencies holding. In some cases, in order for one to get access to their holding, one must only log in to their account using a private key. This will enable them to get access to their public address as well as their holding. An online cryptocurrency wallet is prone to hacking through phising by hackers. When hackers get access to your login details, they can steal all your holding. When you want to store your cryptocurrencies online, make sure to secure your account with two factors authentication to prevent hackers from getting access to it. Also, make sure to keep your private key safe because if you lost it you will never get accessed to your account. Your cryptocurrency holding will be gone for good. Some of the well recommended online wallets are ;coinbase, coinpayment and myetherwallet

2. Offline cryptocurrency wallet

An offline wallet is sometimes referred to as cold storage. It involves storing your cryptocurrency holdings offline without the presence of the internet. You can download offline software or can store them in USB as well as ledger Nano X. In offline storing, your holdings are considered to be safe from attack by hackers since no internet is required to get access to your account. Just like online wallet, in an offline wallet, you also need a password as well as a private key in order to get access to your holdings. Make sure to keep your password safe as well as your private key because if you happen to lose them, you will never get access to your holdings.

Now that you know i think you can start becoming a cryptocurrency owner from today if you had not started before