Majority of new user don't know about the type of wallets available in crypto world to keep your assets. There are two type of wallets available for crypto investors.
Cold Wallets
Hot Wallets.
Cold wallets are those which works offline. It doesn't require internet connectivity. That's why it is consider one of the most secure wallet. Cold wallets are also called hardware wallets as it uses physical media for the storage of your asset. Trezor, Ledger, Ellipal, Ngrave etc are the famous cold wallets. Cold wallets is costly. So, if you are small investors it is difficult to afford cold wallets. Cold wallet price varies from $75 to $400. Being a small investors it is difficult to buy a cold wallet. Cold wallet is good for the user who want to keep their asset for a long term. Although cold wallets are not user friendly like hot wallet but it is good due to its security.
Hot wallets are the wallets which are connected to the internet. This make holt wallets are not as much such secure as cold wallet. Hot wallets are user friendly and easy to use. Type of hot wallets include desktop wallet, mobile wallet and web wallets.
Desktop wallets and Mobile wallets are almost same. It required software to install wallets. Exodus, Electrum and Bitcoin core are the few popular desktop wallet. It is not as secure as cold wallet due to internet connectivity.
Web wallets are the wallets which is installed on web browser. Web wallets are popular due to ease of access. One of the most web wallet is meta mask, petra,coinbase, venom etc. These wallets are easy to user as they are user friendly and it is one of the most used wallets as they are free to use.
I have little equity in my wallets. That's why I am using web wallet. Metamask is my favorite one. What about yours?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Interesting topic.
Wallet has being a major issue for some crypto enthusiast, due to the issue of lost funds and hacks. Though, the cold wallet is kind of expensive, but I think i like it.
Aside the expensive ones, hot wallet happenes to be the only option. Meta mask is quite ok for me, even though I might prefer to store other forms of digital asset on binance, Knowing the fact that Not Your Keys, Not Your Money.
I mostly use trust wallet, as it has mosy of the features I need and great reviews from its users. I think at some point, the goal is to use both cold and hot wallets. Cold wallets are definitely more secure and can be used to store funds for the long term.
I like the trust wallet and Metamask. At some point I would be having enough to store on a hardware wallet hopefully
I have used many violets also used meta mask inside crypto market it is also very good and currently I am using Ronin Violet.
For now it will always be trust wallet. Probably I need to write a review about trust wallet soon
If not for this article, I never know that we have two types of wallets, thanks for your enlightenment.
#hive #posh