Why does she need him?? We will tell in our article.
Wallet for crypto - the same incomprehensible to the mind, as well as the currency itself. But, if you're thinking about it, means, you are quite familiar with digital money.
Cryptocurrency wallet consists of public and private cryptographic keys, that will open doors to the world of transactions, and you can transfer currency anywhere, anytime.
More about keys
Imagine, that your wallet is your email. So here, a public key is something like an address, and private is a password. If one good person wants to send you money, he should know your public key, as if he was sending you an email. To get money, you must use your private key, similarly, as well as read the letter in the mailbox.
Hot and cold, like pies
That's us – also about wallets. They are still paper, light and heavy. There are many varieties. But we've figured it out here., that a wallet is two keys. They can be stored in different ways.
Hot wallet
If you are going to keep a small amount and not for long, you can use a hot wallet. To do this, you need to register on the website of the online service or install the program, with the help of which you will be able to make transactions with your savings. It will not be a mistake to call the service an online wallet, because you can enter it from any device, connected to the Internet.
Warm wallet
If hot wallets work in the cloud, then the warm ones are on your computer or smartphone with access to the network. The application is convenient how to store money, and make payments and transfers.
It is also called the desktop or Desktop version.. You can open the wallet only from one computer, therefore it is considered one of the safest.
Cold wallet
If there is a hot, means, there is also a cold. A cold wallet is something like a flash card. Furthermore, the most common USB flash drive will come down as a cold wallet, but it is safer to use specialized drives with a protective chip.
This option is also called a hardware wallet. It is possible to store different cryptocurrencies and with them simply make transactions. To perform translation, it is enough to connect the flash drive to any computer and enter the PIN-code.
The Good Old Way
Paper wallet
Writing down these two keys on paper is the easiest way. Many do.. Truth, in a paper wallet cryptocurrency can only be stored. Pay for something or transfer money, won't work, because it is difficult to dial long keys manually and not make a mistake. That is why the keys with the help of special programs began to encrypt in a QR code.
If you want to transfer money or pay for a purchase, you can send funds to a public address, which is indicated in the paper wallet. Simply put, all operations with currency you make by transferring money from a paper wallet to a software one. This process is also called "cleaning". It is easy to do manually by entering keys or scanning a QR code.
Which one to choose?
When You'll Choose a Wallet for Your Digital Blood, answer these questions:
– I need a wallet for regular transactions or just for storage?
– I will use one or more currencies?
– I'll need access to my wallet everywhere or just at home?
Answered? Now re-read the article, and look after the wallet for your current and future cryptocurrency savings.
