What are Crypto Wallets?
A simple way to understand
if not, we’ll cover it again in your session
3 Types of Wallets
Exchange wallets
software wallets
Hardware wallets
Exchange Wallets
These wallets are essentially web-based. You’ll have to create an account on the exchange, sign in and then have access to your wallet. The nice thing about an exchange is that it allows you easy access to all of your account information. You can quickly see your balance, make trades or sell your crypto this way.
Software Wallets
What is a software wallet? A software wallet is a program that you install on your computer. It might seem like you store your coins on your computer, but that’s not the case. You should see your wallet as a sort of keychain that stores the keys that give you access to your coins.
Hardware Wallets
A hardware wallet is a cryptocurrency wallet that stores the user’s private keys (a critical piece of information used to authorize outgoing transactions on the blockchain network) in a secure hardware device.
Which wallet is right for you?
Knowing which wallet type fits your goal is a good place to start,
If you’re not sure, in your online meeting we can help clear the options with you.