Different kind of crypto wallet

[SERCAN KIRMIZI 113]

Crypto wallets help members keep their money in a more secure place. You can also make different investments using your money here. It is a safe and logical wallet in every respect.

[BrolySSJ 7899]

This is very detailed post on the different types of wallets, and well explained as well. I think that to a large extent , the type of wallet that a person uses is dependent on the amount of crypto that they have. For example, if you have a lot of crypto then you would opt for a paper wallet or for a hardware wallet in order to ensure that your funds are safe and that you are not hacked. However, for smaller amount that can't afford the large investment into these wallets, as they are quit expensive, then it makes complete sense to make use of software wallets as your values will be small, and therefore the risk is lower, in relation to having more crypto funds. 

[Imranjaved77 6]

Different kind of wallet

Hardware wallet

Trust wallet

Ledger Nano X

Ledger Nano S

Bitcoin

Litcoin wallet

[Jami273 2020]

On 10/3/2020 at 1:06 PM, Dorjoy12 said:

What is crypto  wallets?? 

 

Crypto Wallet is a tool which you can use to interact with blockchain networks.. There has difference  crypto   wallets.. If you want to difference  crypto wallet then you need to divided 3 part  of crypto wallet.. Such as software  wallet, hardware  wallet and paper wallet.. 

Again those wallet has difference  according  to the working  system  and you can divided them into two part.. Such as  Hot wallet and cold wallet.. 

Almost  all crypto wallet provider based on software.. Because software  wallet is easy to use than hardware  wallet.. But hardware  wallet is most secure  than another  wallet.. And paper Wallet is a printed paper with your wallet information QR code, where your wallet address  and private  key get stored.. Paper wallet has much less user.. 

 

How crypto wallet works?? 

 

Mostly  member  believe  that crypto Wallet  don't  store any crypto currency.. Rather, it is a tool through which to interact with the blockchain... In another  way, you can say wallets generate information needed for cryptocurrency transactions through blockchain..  For this, wallets need a private  and public  address ... 

Usually  wallets made by two address ..from the two address, one is public  address  and another  is private  address .. From this you can share your public  address  to send and received  crypto  currency .. But privet key, you never should share with people .. Always  keep your privets  key in a secure  place .. 

Private  key is a address  by which  you can Control  your wallet.. If any one able to know your privet  key then they  can easily  access  your wallet.. For this reason, you must  need to be aware about  your privet  key.. 

 

Hot  wallet and cold wallet :

 

Usually  hot wallet connected  with internet .. Its mean anyhow this wallet is connected  with internet .. For example : if you open  a binance  account  and you want  to deposit some funds   in your Binance  account  from any site  then its mean you store your funds in hot wallet.. You can easily set up hot wallet and use it..but for safety, usually  member  keep small funds in Hot  wallet..

 

Opposite  site, cold wallet is a wallet which is not connected with internet.. And its privets  key always  remain  offline  because  for the safety from  hacker.. But for use this  wallet you need to face some problem.. The member usually  do big investment  and hold for long time use cold wallet.. 

 

Software  wallet : There has different  kind of software  wallet.. And mostly  wallet connected  with internet  Which  means  hot wallet..  Now we discussed  about those software  wallet that we usually  use.. Such as web wallet, desktop  wallet, mobile wallet..

 

Web wallet :  Web Wallets is a very simple and easy wallet that will allow you to easily connect to the blockchain through the browser interface, without having to download or install anything... Web wallets means some exchange  wallet  and some browser based   wallet.. To make web wallet , usually you need email and unique  password.. This wallet very beneficial  for Newbie ..  Normally  in web wallet, the privet  key dont give to user.. Its mean your wallet privets  key remain stored to  third party  provider..but some web wallet provider give  private  key to its user and again sometimes  wallet  control  share  with user by multi signature  method ... 

But a important  thing  is, whenever  you use  web wallet,  you must be careful  about  your  security .. 

 

Desktop  wallet : It's  the wallet that you can installed  in your privet  computer..Desktop  wallet  also has two part.. In one part of desktop  wallet where private  key dont given  to user.. And in another  part  of desktop  wallet, you can take the full control  of your wallet password... When a wallet is created by installing wallet software that gives the wallet user complete control of the wallet, a file called "wallet.dat" is created.  Which can be encrypted with a password..But when you encrypted  those  wallet  by password  then you must keep safe the password ...because whenever  you going to do any transaction  you must  need to give  the password  to complete  your transaction.. If you lose your password  then you can lose your funds.. 

.. 

Mobile wallets : Mobile wallet is same as desktops  wallet.. That made Only  for smartphone .. To received  and sent  crypto currency  mobile  wallet is best for every  one.. Because  by using  QR code you can easily transfer your funds... For this reason mobile  wallet  is favourite  for smartphone  user..Trust  wallet is the most favourite  smartphone  wallet provided  by Binance.. By this wallet you can store your crypto currency  while from there you can easily  trade  too.. But we all need to be careful for using  mobile  wallet because in phone  we usually  have different  apps.. Also you might have those  kind of app that is dangerous for phone.. For this, whenever  you use Mobile wallet  then you must encrypted  the wallet by password.. Again you must keep backup of your privet  key and seed phrase  so that in any bad situation  your wallet  can be safe.. 

 

Hardware  wallet : hardware  is a physical  electronic  device, that generates  random number to generates  privet key and public  key.. And the privet  key remained  stored in wallet that never  connected  with internet.. You can think  hard wallets  as one kind of cold wallet.. For this reason, hardware  wallet called  Most  secure  wallet.. You can take Hardware wallet safety from online hacker.. But it can have risk for its farmware mistake.. Its hard to use hardware  wallet..for this reason this wallet user is not Friendly .. 

 But if you want to do big invest  or  hold for long time then you can use hardware  wallet.. Becuase  its the most secure  wallet.. 

Mostly  hardware  wallet gives you the facilities  to keep your funds safe.. For this, when you first set hardware  wallet then they usually  give  you recovery  phrase..Because  if sometimes your account get damage  then you can easily recover  it by use recovery  phrase ..  Ledger Nano S/X is the best hardware  wallet.. 

 

Paper wallet :  Paper wallet is what is called a physical wallet in which your wallet information is printed on a paper in QR code form.  You can make cryptocurrency transactions by scanning that QR code..

Some paper  wallet  will give you the chance to download  their code and by Which  you can generate public  address  and private  key  though  you are in offline..for this reason this kind of wallet is safe from online  hacker.. You can take this wallet as a cold wallet.. 

This paper  wallet has a big problem that you cant do transaction  half of your Funds and for this reason  people  dont want to use it..

 

Good luck cryptotalk member ❤

Thanks a lot dear friend for sharing these very important informations with us.These will help all of us to choose which kind of wallets will be safest for storing our crypto.Thanks a lot again.@Dorjoy12

[Dorjoy12 8962]

23 hours ago, Jami273 said:

Thanks a lot dear friend for sharing these very important informations with us.These will help all of us to choose which kind of wallets will be safest for storing our crypto.Thanks a lot again.@Dorjoy12

Still lot of members in crypto world's has no idea which wallet will be best for them to do transaction money or staking so i come out this topic..  Especially for low capital members coinbase, trust wallet is best Which called mobile wallet but for high Capital members hardware wallet is best always @Jami273                 

[Honny143 13612]

12 minutes ago, Dorjoy12 said:

Still lot of members in crypto world's has no idea which wallet will be best for them to do transaction money or staking so i come out this topic..  Especially for low capital members coinbase, trust wallet is best Which called mobile wallet but for high Capital members hardware wallet is best always @Jami273                 

Exactly @Dorjoy12  still so many new members have this confusion, which one is safe wallet to store crypto currency, because in online there are so many types of wallets exist,

So you created topic really helpful for those members, and iam also recommends coinbase and trust wallet, because both are leading and trusted wallet's.

[Dorjoy12 8962]

4 minutes ago, Honny143 said:

Exactly @Dorjoy12  still so many new members have this confusion, which one is safe wallet to store crypto currency, because in online there are so many types of wallets exist,

So you created topic really helpful for those members, and iam also recommends coinbase and trust wallet, because both are leading and trusted wallet's.

Actually coinbase wallet usually we dont use but we use the coinbase exchange wallet which we called coinbass wallet and the disadvantage of coinbase exchange is no illegal country of crypto can trade in coinbase exchange site so most members use it to store crypto only though its confirmation timing really boring to me @Honny143             

[Naha62 752]

Good topic 

There are two types of wallets.

1 hot wallets 

2 cold wallets 

I prefer cold wallets .

Sofware wallets are good to load some coins into them .

[Naha62 752]

According to my thinking following wallets are best .

Blockchain wallet 

Trust wallet 

Coinbase wallet 

Android wallet 

Hard ware wallet 

[Tawari 888]

There are many digital wallet available but I am personally use blockchain wallet. Blockchain wallet is very important and helpful for me. The blockchain wallet save our bitcoin long time and provide high security and the use of very easy and simple. 

[Dorjoy12 8962]

6 minutes ago, Muhammadadnan128377 said:

Dear @Dorjoy12 I have no words to appreciate your post and there is only way to give you is positive reputation your post add a lot of information to my knowledge about digital wallets.

@Muhammadadnan128377 as a member of this forum its my duty to share my knowledge plus experience with forum member..  Its hear good that you become helpful for my topic information..  By the way,  hope now you understand what kind of wallet you need to use and how to make them secure..         

[Samahir Fatima 493]

I like Blockchain wallet because it store crypto currencies for long time. It always prevents me from loose. 

[MisbahJam 801]

There are Many different types of crypto wallets are available here we discuss the name of these wallet are following 

1) Hardware Wallets

2) Software Wallets

3)Desktop Wallets

4)Hot Wallets

5)Cold Wallets

6) Coinbase Wallets

these wallets are safe and secure.thousands of people use these wallets.

[FredyValenzuela 21]

Excellent post my friend. Great information for those of us who are just starting in the world of cryptocurrencies. From the little I know, the most secure are desktop wallets and hardwallets and what is always recommended is that we keep our private keys the moment we start them.

[Dorjoy12 8962]

6 hours ago, Sadia Batool said:

Dear friend your information is very interesting. I have knowed all about the crypto wallets. The sold wallet the hot wallet. The wallet for storing bitcoin and many currencies safety dude. There are different kind of wallets which you already have described like mobile wallet,paper wallet, hardware wallet 

@Sadia Batool if you are big investor in crypto world then i can suggest you to use hardware wallet because its the wallet which privet key always remain offline..  Again never dare to store your crypto in any exchange because often exchange get hacked.           

[Cleaner 2549]

52 minutes ago, Dorjoy12 said:

@Sadia Batool if you are big investor in crypto world then i can suggest you to use hardware wallet because its the wallet which privet key always remain offline..  Again never dare to store your crypto in any exchange because often exchange get hacked.           

Right @Dorjoy12...For large investors or traders I would recommend using hardware and cold wallets.  Because these wallets provide very good protection against large amounts of cryptocurrencies.  However I use Coinbase and Trust Wallet to keep a small amount of crypto currency.  And these wallets are safe and secure

[sayeem 524]

Wallet is a very important issue in the online world. The need for it is immense. I have used different types of wallets. Such as trust wallet, coinbase, waves, tronlink pro etc.
 Now I am using trust wallet. With this all work can be continued. It is much safer. Everyone can use it very easily

[sormis 567]

yes friend we are know that there are many wallet in the online market so that there are many people work this is very good and trusted site in online market. so that there are many people work this site and earn money a lot of.

thanks 

[yara_kle 10]

There are many types of wallets which we can use to store , I use software wallets most. Maybe i will shift to hardware wallets after i reach a certain amount of capital. 

[Aimen Khan 696]

Thanks dear for this informative post.There are two types of crypto wallet. Hot wallet and Cold wallet.But i prefer cold wallet because the security of this wallet is better then hot wallet.And it is difficult to hack. 

[Malikjnb 1235]

Thanks for sharing this useful post. We all knows that there are many different kinds of wallets in world. Like a mobile wallet, desktop wallet, web wallet, and hardware wallet etc. I use web wallets in which I mostly use trust wallet and payeer wallet . Because both are trusted wallets.

[Naha62 752]

There are many wallets of crypto.but i use yobit wallet account because it us very secure and safe .It plays an important role in storing our crypto currency. It is very helpful for us and it also helps us a lot.this account has many feature .there are many mobile wallets account such as coinbase  wallet account ,trust wallet account etc .

[Hasem3 192]

There are many wallets, but I use the Yobit Wallet account because it has many advantages and it plays an important role in saving our cryptocurrency.  It also helps us a lot th This account has many features here There are many mobile wallet accounts such as Coinbase Wallet Account, Trust Wallet Account.

[Malik9532 1276]

Thanks for sharing this useful and informative topic this is really helpful and useful for every members especially new member because new members don't know about wallets and they asked about wallets from seniors after reading this topic they completely know about wallets and they easily can use any wallet .

[Rida nasir 801]

You have made a good effort by sharing this info .All new bie will now know the types of wallets as they are new in crypto word they are struggling for knowledge till will help them.