Which cryptocurrency wallet to choose? Comparison of popular solutions.

The terms "bitcoin wallet" or "cryptocurrency wallet" sometimes seem enigmatic to novice users. At the same time, it depends, among other things, on choosing the right solution, [...] https://www.pinterest.com/pin/1085437947660215829/

The terms "bitcoin wallet" or "cryptocurrency wallet" sometimes seem enigmatic to novice users. At the same time, the security of our funds depends, among other things, on choosing the right solution. That's why, in this article we introduce and compare the most popular wallets for storing digital assets. All transactions in a decentralized blockchain network are stored on the blockchain, so they cannot be changed or deleted. This is to ensure the security and transparency of the network. A cryptocurrency wallet gives you access to the blockchain, or more specifically, to your private key. Using a comparison to our email account: thanks to the password (private key) we can log in to our account (public key). The cryptocurrency wallet just stores the private key. Note that we should never give access to our private key to outsiders. Otherwise, our funds can quickly change hands. Types of wallets for Bitcoin and other cryptocurrencies Currently, there are four categories of wallets for storing cryptocurrencies. The choice depends on what level of security and convenience of the wallet we opt for. The problem of storage, security and handling of wallets has been a constant concern in the cryptocurrency world. Newer and newer solutions, are designed to make it easier for everyone to handle their digital funds. Cryptocurrency exchanges and dedicated platforms We can store our cryptocurrencies in dedicated cryptocurrency services or exchanges. However, we do not recommend such a solution, as it usually involves giving your private key to a third party. We recommend taking to heart the saying - "not your keys - not your money". Some platforms offer strong security and even promise to cover losses with your funds in case of a mishap. Still in this case there is a risk of losing funds, as thousands of users of the failed Bitmarket exchange found out painfully. If we must, let's keep funds on exchanges only for the time of trading. Alternatively, there are decentralized exchanges where you have access to your funds at all times. However, they are not as efficient as the usual centralized entities. In addition, there are so-called "non-custodial" exchanges that combine the best of both these types of exchanges. They are o [...] [...]