Crypto Wallets for Beginners 2021: What is a crypto wallet? What is the safest way to store your crypto? What is the difference between a hot wallet and a hardware wallet? What are the top crypto wallets?
All of these questions and more, will be answered on today’s episode of CoinMarketCap’s Tuesday Tutorial, where we make it easy for you to get the most out of all the crypto tools out there.
Why do we use a crypto wallet?
When you keep it on an exchange, you give up your private keys, and as the saying goes “not your keys, not your crypto.”
In such a case, you put all your trust in that exchange’s team and security level, and as technology is advancing rapidly, so are hackers’ capabilities. No matter what security verification process and policies that exchange implements, there is always a risk of it getting hacked. You may end up losing all your coins or tokens.
Enter the alternative: A cryptocurrency wallet is essentially a software application that allows the user to store, track, send, and receive coins on the blockchain, just like a bank account.
Along with the pros of having a crypto wallet, there are some cons too, make sure to watch out for those in the video.
🔵 CoinMarketCap Timestamps:
0:00 Why use a Wallet?
1:54 What is a Crypto Wallet?
2:14 What are Keys?
2:54 What is a Mobile Wallet?
3:10 What is a Desktop Wallet?
3:28 What is a Hardware Wallet?
3:51 What is a Paper Wallet?
4:13 Most popular Hot Wallets
5:23 Most popular Hardware Wallets
7:18 Conclusions
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❗️ Note: The information provided in this video does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the video’s content as such. CoinMarketCap does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
🔵 Coin Market Cap is the world’s most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto accessible all around the world through data and content.
Founded by Brandon Chez in May 2013, CoinMarketCap or CMC has quickly grown to become the most trusted source by users, institutions, and media for comparing thousands of crypto assets and is commonly cited by CNBC, Bloomberg, and other major news outlets.
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