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There are several different types of wallets you can use to store and manage your digital assets. The features and functions of the different types of wallets are all dependent upon the asset being stored and unique design of that wallet. Use the following resource to help choose the best wallet for your coins and coin preferences. The examples selected here are just a few of the many of options available for you to choose from.
Remember to conduct your own extensive research from various outlets as well! Any type of digital asset wallet is either classified as a 'hot' or 'cold' wallet based off of their connectivity to outside networks. Hot wallets are connected to the internet, whereas cold wallets are completely offline. Cold wallets are generally the more secure of the two wallets, so they are recommended particularly for the storage of large amounts of assets.
Hot wallets are recommended for use in transactions, trades and for assets that you would like to have frequent access to. Much like its name implies, a desktop wallet is one that is accessed from and lives on a laptop or personal computer. These wallets can connect to the internet, but you can also view and manage them offline as well.
Desktop wallets are often less prone to user error than mobile wallets due to the larger screen and easier readability of addresses. One of the most common and convenient ways to store your coins is through a mobile wallet that can live on your smartphone.
Mobile wallets utilize the QR code function to create fast and user-friendly transactions, and are convenient for smaller transactions such as buying coffee at a local restaurant. There are many different wallets made specifically for single coin use, but there are also a number of wallets that can hold multiple types of coins to best suit your needs. Coinomi - Google Play.
Another way to store your coins is through an online web wallet. Online web wallets are where you use a third party wallet to store all of your coins on the cloud. These wallets must be accessed with an internet connection and provide custodianship of assets directly to the third party being leveraged to store assets. Some of the advanced security features enabled in online web wallets include things like multi-signature wallets. An arguably more advanced way to store assets is through a cold storage device which can hold your assets for you.
This physical device connects to your computer through a chord and most devices do not allow for private keys to interact with your hard drive or the internet. Much like mobile wallets, many people choose to use hardware wallets for their versatility and convenience. Bitcoin Clients were the first type of wallets used on the blockchain.
These wallets are what made and still make up the original core of the client. The first ever Bitcoin transactions were all done through Bitcoin client wallets. With a Bitcoin client wallet, you are able to view all of the blockchain and be an active part in the state of the network. Clients are also able to run full nodes to help propagate transactions on the network. Cryptocurrency doesn't have to just be digital either, you can get your coins sent to a physical wallet or paper wallet and have them 'cold' stored there safely.
There are many different services out there that allow you to send your funds to an address that you can then print out and store securely wherever you would like. How Can I Speed it Up? What is an HD Wallet? Desktop Wallets Much like its name implies, a desktop wallet is one that is accessed from and lives on a laptop or personal computer. Here are a few options: Physical Wallets Cryptocurrency doesn't have to just be digital either, you can get your coins sent to a physical wallet or paper wallet and have them 'cold' stored there safely.