There are many different types of cryptocurrency wallets out there.
What are the different types of Cryptocurrency wallets?
There are several types of wallets that provide different ways to store and access your digital currency. Wallets can be broken down into three distinct categories – software, hardware, and paper. Software wallets can be a desktop, mobile or online.
Desktop-based wallets are all very well, but they aren’t very useful if you are out on the street, trying to pay for something in a physical store.
Hardware wallets
Hardware wallets are currently very limited in number. These are dedicated devices that can hold private keys electronically and facilitate payments.
Cold Storage
When you keep your currency in a device which is completely offline it’s called cold storage. For those seeking the most secure form of storage, cold wallets are the way to go. These are best suited to long-term holders, who don’t require access to their coins for months, or years at a time.
Find out how to create a ripple paper wallet here:
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This is a video about Different Types of Cryptocurrency Wallets