First and most important thing you need to learn about Wallet is that: You can’t do a thing without it. In order to own, or trade any Cryptocurrency, you must have your own Cryptocurrency Wallet.
When diving into new areas of interest, it’s good to encounter a term that is pretty much self explanatory among all that new information, language and words. With this being said, it’s easy to define Cryptocurrency Wallet.
A Secure Digital Wallet that allows you to store, send and receive Cryptocurrencies and Alt Coins is called Cryptocurrency Wallet, or simply Wallet once you get used to being part of our community.
Word “store” from the definition can be somewhat misleading as the cryptocurrencies are not ACTUALLY stored in the Wallet itself. The Wallet is instead assigned with a Unique Private Key. This key further gets connected with Public Key linked to a certain amount of Cryptocurrency.
Your ownership of Alt Coin is defined with the connection between your Private Key (Wallet) and Public Key (Certain amount of Cryptocurrency).
When it comes to choosing which Wallet to use, it’s safe to say, that is primarily defined by the very Cryptocurrency we intend to do business with. We say this because each of the Cryptocurrencies have their own official Wallets, or work with, and suggest, a third party Wallet.
While there are Universal Wallets that can be used to store and trade many Alt Coins (not necessarily all though) that allow you to have everything at one place, we strongly recommend using Private or Suggested Wallets for each Crypto individually. Reasons for this are Compatibility, Support and Security.
Further in this section we’re going to elaborate on Types of Wallet, the Security as well as guides and intros on some of the most popular Wallets around.
Category: Cryptocurrency Exchange
Comprehensive guide on Cryptocurrency Exchanges. Covering several parts of topic and serves as good intro. Part II coming soon.
Cryptocurrency Exchange: Part I
Category: Wallets, E-Wallet
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Jaxx, MultiCoin E-Wallet
Ledger Nano S, Hardware Wallet
Category: Wallets, Hardware
Best Cryptocurrency Hardware Wallet. Ledger Nano S is right there on top when it comes to safety and many other concerns you may have. Learn why.