With cryptocurrency topics spiking in popularity, more and more people wish to be involved in the space. So, what do you do if you would like to become a part of the crypto community but to not know much about the existing types of wallets? In this article, we will guide you through the main differences between crypto storages as well as their advantages and disadvantages. Hopefully, getting through this breakdown will help you in making the final decision on choosing the best service to trust your coins with before you proceed to swapping crypto with Swapzone.
Software wallets are programs that fall into the “hot” storage category – most of them are connected to the Internet. These crypto services are subdivided into groups based on the use of a particular platform, with the most important and popular types being Web, Desktop, Mobile and Browser Extension wallets.
Cryptocurrency wallets come in many forms. From a piece of paper to a multifunctional application, they all serve one purpose – grant access to one’s coins and make fund management reasonably easy. Here are some examples illustrating the kinds of existing offline cryptocurrency storages.
To make the task of choosing a cryptocurrency wallet slightly easier, we have collected a list of tips divided by the storage type. In the next paragraph, you will find some information on your crypto habits – if you relate to those, consider choosing “hot” storage (a web-based wallet or a smartphone app, depending on your needs)
If the points mentioned above do not ring a bell for you, here are some more points to consider. If you are thinking about yourself as this type of cryptocurrency user, it might be right for you to think about “cold” storage options.
In this guide, we have attempted to bring together all the types of cryptocurrency storages that are currently present. As you can see from all the points we have mentioned above, there are dozens of various cryptocurrency wallets and choosing a suitable one might be, at first, a challenging task. Considering the fact that the user is an individual responsible for the funds to end up in a secure place, it is crucially important to evaluate the goals of your wallet first. We do hope that the information that we have gathered here was useful and helped you to pick your first crypto wallet before proceeding with your Exchange.