Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Monster5 on October 06, 2020, 11:01:55 AM
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A cryptocurrency wallet is the first step in using cryptocurrencies. Without it we cannot receive, send or store Bitcoin or any other cryptocurrency. In other words, it is essential for the management of cryptocurrencies.
There are many types of wallets. Some of them are compatible with only a single cryptocurrency or the most popular of them, but the most popular wallets can be used to simultaneously use several different cryptocurrencies.
Of course, we can have more than one crypto wallet, as each has its own characteristics.
While we buy cryptocurrencies from exchanges like Binance and CoinBase, and we have the ability to keep them there, it is a high risk option. The best advice is to use the exchanges only when you want to buy cryptocurrencies, make them in cash, or convert them to some altcoin, and when you're done, transfer them to your wallet.
In fact, it's not the cryptocurrencies that need to be protected, but the private keys that give us access to them.
So now the question is, where can we store our cryptocurrencies? Therefore, we need to look for the following features to choose a reliable wallet.