Hello and good morning, afternoon or evening pending on where you live in the world. I wanted to touch on the topic of the different types of crypto wallets that are available to hold crypto. I am not sure if everyone is knowledgeable in this topic so I will attempt to explain it even so new people can understand. There are few types of crypto wallets, paper wallets, software wallets and hardware wallets. I want to start with paper wallets.
Paper Wallets-- shows public key and private key on the wallet. So if you want to create and print out some wallets so you can store your BTC in an offline manner here is the site. https://bitcoinpaperwallet.com/ and here's another one http://bitaddress.org
A few things to keep in mind about these wallets, they are paper, they need to be protected from getting wet and should be kept in a safe place. I have a couple I made and I laminated them to protect them. I know in today's crypto world this wallet isn't the best option because we now have Hardware wallets.
There are quite a few hardware wallet manufacturers, Ledger, Keepkey, Ellipal, Trezor. I have a LEDGER Nano S and a Keepkey wallet. I do not know anything about the other two wallets. It took me awhile to figure out the Ledger but I got it. These wallets are useful to keep funds offline and safe from potential hacks.
Then there are software wallets, either installed on a desktop PC or mobile device, or even both. These wallets make it easier to receive and sent funds to exchanges or to other people. There are many of these wallets, Exodus, Guarda, Wasabi, Samourai, and probably many more than I can name. Each of these wallets will have a recovery passphrase, write this down, do not lose it or tell anyone. Set a password for the wallet and once again tell no one about it. As the saying goes: Not your keys not your coins. That's all for this short post. Gimme a thumbs up if you like or if not a thumbs down.
