Beginners Guide to Crypto Wallets
Posted on December 23 2020 – By Yada Wallets Team
Last updated on December 10 2021
So you want to get started with cryptocurrency, you may have already looked at the place where you can buy some, or maybe you have a good friend who wants to give you some to get started. Now the only thing you need is a place to store your Crypto, to do so you will need a Crypto wallet. A crypto wallet is basically a place where you can store your cryptocurrency.
When it comes to wallets there are 4 different types of wallets that you can use. These are Web wallets, Mobile wallets, Computer wallets, and Hardware wallets. They all have their own use cases and sometimes they can even be connected so that you can share the same funds over multiple devices/wallets.
A Web wallet usually comes in the form of a browser extension. These types of wallets are easy to use and give you some extra crypto functions within your web browser. When you want the make use of some DEFI (decentralized finance) and/or Dapps (decentralized Apps) a web wallet can be perfect for you, as many Dapp websites let you directly connect to it with your web wallet
A Mobile wallet is, yeah you guessed that right a crypto wallet for your mobile phone/device. These types of wallets are usually directly connected to the internet and are meant for ease of use, fast spending, and receiving. It’s always good to keep in mind that you should use a Mobile crypto wallet like you would a normal wallet for your dollars/Euros. A phone can get lost and you could always get robed so never store a fortune on a mobile wallet as you would walk with 10.000 $ cash in your normal wallet.
As it says a computer wallet lets you store your cryptocurrencies on a computer/desktop device. A computer wallet is usually similar to a mobile wallet except that it is on a different type of device. However, there is 1 pro and 1 con with a computer wallet compared to a mobile wallet which is that a computer is harder to steal, this making your crypto slightly safer. And as a con, it is slightly more difficult to make a payment as it is annoying to scan a QR-code with your webcam camera.
With a hardware wallet, you don’t just download a piece of software and install it on your device. No, a Hardware wallet is a physical device on which you can store your cryptocurrencies. Often these devices are not connected to the internet and have to be accessed in different ways (can differ per hardware wallet brand/device). A hardware wallet is however the most secure way to store your cryptocurrency and functions like your own crypto vault that you can physically store wherever you want.
If you are ready to start using crypto now, you can easily find the best crypto wallet on our website. Here you can filter for the different types of wallets (Web, Mobile, Computer & Hardware) and read the opinions of others.
We hope that our Beginners Guide to Crypto Wallets helped you get a better understanding of the crypto space. If you have any more crypto-related questions feel free to ask them on our Facebook or Telegram group. We are happy to help whenever we can!