Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => TRON (TRX) Forum + Ecosystem => Topic started by: Fariwala on April 20, 2021, 06:11:52 PM
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Before we go ahead and jump into the list of the best Tron wallets of the year, there are a couple of things that are important to discuss. For starters, you should be aware of all of the different Tron wallets that are out there.
While crypto wallets, in general, are often categorized in four or five different categories, for simplicity’s sake, we’re going to stick to two - hot and cold ones.
As we discuss both of these types of wallets ahead, please keep in mind that the tags are used as umbrella terms - however, as far as this list goes, it should be sufficient.
Hot Wallets - The Peak of Convenience
The term “hot wallet” refers to cryptocurrency storage that maintains a constant connection to the internet. An example would be a Tron desktop wallet (software), a web browser extension, or a website-based one.
Hot wallets are probably the most common wallets that you’ll find, as far as storing Tron is concerned. This is due to their accessibility - if you’re using a hot wallet, chances are that you’ll be able to access your cryptocurrencies (in this case - TRX) in a matter of seconds.
By extension, a mobile app-based Tron wallet can be considered a hot wallet, too. As you can probably imagine, app wallets are super-popular, especially among people who trade TRX coins on a day-to-day basis. Such wallets allow you to access your TRX on the go, wherever you might be located - I mean, you probably have your phone with you all the time!
Not the case with a computer, though.
So, hot wallets are very accessible, usually completely free to use, and beginner-friendly. What’s the trade-off?
Well, typically, a Tron desktop wallet isn’t going to offer you the “best possible” security. If you choose to use a high-end wallet, sure - it will be secure. However, break-ins and hacking attempts do still happen.
Now, before we move on to discussing cold Tron wallets, there is one more type of hot wallet that needs to be mentioned, and that you can expect to see on the list ahead - exchange-based storage.
More info: https://www.bitdegree.org/crypto/amp/tron-wallet