1 / 7

Best Cryptocurrency Wallets | Basic Of Crypto Wallets

Learn about best crypto wallets, different types of cryptocurrency wallets and how cryptocurrency wallet works. Visit our site: https://cryptowalletsonlineuk.wordpress.com/2018/08/21/basic-of-crypto-wallets/<br>

platinumcrypto
Download Presentation

Best Cryptocurrency Wallets | Basic Of Crypto Wallets

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BASIC OF CRYPTO WALLETS PLATINUM CRYPTO ACADEMY

  2. BASIC OF CRYPTO WALLETS • Crypto coins are digital currencies. • You need to adopt a fully different approach, when you make up your mind to buy and store it. • When cryptos do not survive in physical form, technically those could be kept at anywhere. As an alternative, the private keys get used to accessing your public Bitcoin address and get signed for transactions, which need safe storage. • As a matter of fact, the combination of the beneficiary’s public key and your personal private key make the crypto transaction feasible.

  3. How does the wallet of Cryptocurrency work? • First of all, it is not possible to store cryptocurrency in a wallet. • A private key is all that gets assigned to you and your wallet. The private key is the secure digital code, which only you know.  • The private key has the ownership of a public key, which is a public digital code with an access to a particular amount of money. So your wallet has private as well as public keys. • And this allows you to send and get coins while acting simultaneously as a personal ledger of transactions.

  4. KNOW ABOUT THE CRYPTOCURRENCY WALLET THAT SUITS YOU • You would always get the advice for using an official or officially endorsed wallet for any particular type of coin. • For example, you could simply use Bitcoin core wallet for Bitcoin. • For Litecoin, you could use Litecoin core. • You would also have universal crypto wallets and multi-coin wallets. You could have multi-coin wallets like Holy Transaction or Coinomi. • You could also have custodial wallets and there you do not have the direct control of your private keys. And offline hardware wallets also exist like TREZOR and Nanos.

  5. HOW DO YOU USE IT? • You need to log on to the particular website and download the officially endorsed wallet from the website. • You could then sign up for a custodial wallet service. Coinbase is an instance. That service handles a wallet and it makes an exchange with an account. • Then you would need a hardware wallet like TREZOR. • Else, you could make use of a universal software wallet. • As a matter of fact, you could choose from a wide variety of best cryptocurrency wallets, which are available with various pros and cons.

  6. TYPES OF WALLETS Wallets on your cell phone Such wallets function as apps on your phone, making use of an internet connection. Functioning efficiently, these could store your public and private keys online. • Online wallets  You could download the app on your desktop, web app, or in-browser extension. After getting downloaded, you could use it anywhere if you have an internet Connection. • Hardware wallets If you have a special device like mini-computer, it also could get used as a wallet. It could interface with online best crypto wallet without the involvement of an internetconnection. • Paper wallet Paper wallet consists of keys on a piece of paper. This could get stored anywhere without the necessity of making it online. This wallet gives only the important essentials without any price.

  7. THANK YOU.

More Related