What is a wallet?
In cryptocurrencies terms, a "wallet" is a method of secure physical or digital storage of cryptocurrencies.
The word wallet addresses different types of storage. In practice, however, a wallet – can be a software application, encrypted and secure file or a simple piece of paper – almost invariably integrates two elements: a public key, known to all and corresponding, for example, to a bitcoin address, or another cryptocurrency 's address, and a private key, known only to the Bitcoin address owner of the wallet.
This key is used to sign transactions and show that you're the owner of this or that amount of a cryptocurrency to all peers in a network.
Which wallet to choose?
A mobile wallet in the form of a mobile application. It is dangerous in that it exposes the owner of this form of wallet to the deceptions that can constitute a smartphone's piracy or theft. Therefore, it is strongly advised that large amounts of cryptocurrencies not be stored on this form of application.
A desktop wallet on your personal computer. The user must always make sure that the device hosting the wallet is not vulnerable to viruses, malware and other similar digital infections.
A hardware wallet. These are tools that provide an optimum degree of protection by storing private keys on an embedded chip and the processor being alone capable of signing a transaction independently of a machine.
A hybrid wallet: This type of software, installed on a personal computer, allows exchanges between different cryptocurrencies. For its part, the web wallet (or cloud wallet) is a remotely installed cryptocurrency wallet at a service provider, a wallet supplier. It can turn out to be particularly dangerous if the user transfers his wallet to a third party to protect and back it up.
A paper wallet is a sheet of paper on which key information (public and private keys) is written. Since these wallets are not digital objects, they are significantly safer than any wallet that has an Internet connection.
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