Steemit Crypto Academy Contest / S3W3 - The Wallets by @jani786||Burnsteem25%

Hello Everyone

I hope you are all ok and enjoy the health by the grace of the Allah Almighty today I am here to participate the contest steemitcryptoAcedemy the task is that discussed about My crypto wallet in their own words I am glad to participate in this contest we discussed here about some important questions which asked in the contest so let's start this contest without any delay:

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Introduction to Wallets

To secure our money or our assets we always need wallets. In the case of Fait currency we store our assets in the physical wallets or May be in the banks where the money can ve transffered and deposited at different places and accounts . In this era of Technology as we use the digital currency so for the security and protection of our digital assets we use different digital wallets in our mobiles or computers. The use of this digital wallets is very easy that the currencies can be transferred from one place or from one account to the other just by some clicks.

The use of this digital wallet is somehow we have to install the app in the presence of internet and we can create our accounts by using our Gmail different passwords and keys are given to us. We can also transfer our currencies from one digital wallet to the other by using different keys and passwords. It can be said that with the help of these digital wallets exchange of currency have become very easier for people who use digital method of economy.

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As in banks we deposit our money and we also installed different banking apps through which money can be transferred to pay different dues such as bills,feeses etc. Same the digital wallets are created where the currencies can also be transferred in our banking accounts by the conversion. So this was some introduction to the wallets now I am going to talk about the Crypto wallets.

Crypto wallet

There are multiple wallets in the market because we know that the growth of cryptocurrency is increasing day by day so many wallets are also introduced in the market for the sake of and storage of our cryptocurrency and make it more secure and protectable. These wallets are very helpful because we can easily access ourselves at any time we want.

After the creation of account by using our password and keys we can easily access our wallet and see the presence of different currencies and their amount easily. Also the currency can be exchanges from one wallet to other wallets by using the required password and keys. As we talk about this Steem there is also a wallet, where the rewards such as Steem and TRX is stored which can also be connected to the tronlink wallet and other wallets for the sake of exchange by using keys generated by the system after creation of account.

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To create a wallet there are two ways that first is that you create an account on digital wallets such as (Binance trust wallet ,metamask and tron link wallet)
And other way is when you start exchanging the currency the exchange also offers the wallets where your assets can be transferred whenever you buy any coin or own it.

Importance of wallet

So now I am going to talk about the importance of Wallets. The wallets has many benefits and has a great importance.

• First of all it provide convenience to us by storing our all assets at one place.
• These wallets Store our cryptocurrencies and assets at one place from where they can easily exchanged.
• These wallet Store your currencies securely because it is very difficult to hack them.
• It is very convenient to use.
• Exchanging become very through these wallets.
• The exchange and transaction on these wallets is secure,relable and can be done on the reasonable fee.

Crypto wallets are of great importance but we should keep in mind that while doing our transactions the keys and password should be cracked or we should know that which wallets are we connecting to make our transaction. Because sometimes by our mistake we lose our assets.

Wallets that I own and reason to choose them.

So there are somewhere that I mostly used and reason why I use this wallets in my exchanges.

Tron wallet

In my wallets one of them is tron link Wallet. It is very scare able and easy to use for me. Some reasons that why I use this wallet are following.

This is a screenshot of my tronlink Wallet.
The reason why I use this wallet are following.

• Tronlink wallet is created by the TRON ecosystem for the transfer of different Assets of TRX it is also connected to the steemit .

• We can use TRON LINK wallet for the transfer of our TRX in steemit wallet by using keys that are created by the system.

The reason for the use of this wallet is that it is security and conveninet to use the wallet beacuse it has developed for the coustmores support and convenience.

Trust wallet

This is screenshot of my trust wallet account. This is mostly used and one of my favourite wallet. It is connected to different exchanges we can easily transfer our assets to the wallet by connecting it with different keys.

So if I talk about some reasons to use this wallet are following.

• It is very secure and safe to use. The use of Trust wallet is also very easy.

• It Supports the transactions in all blockchain. It also offers the storage of a great variety of cryptocurrency .

• Another very great importance of Trust wallet is that Offers different Dapps to use as well.

Binance

Binance is one of the leading exchange of cryptocurrency we used to buy and sell different currencies on this platform. Some reasons that I use the binance platform are following .It is itself and exchange which also offers its wallet.

• The customer support on this platform is great it never compromise on its security purpose.

• It's very safe and secure and had a very low fees for transactions and transfers.

• It covers almost all the cryptocurrencies .if we use the top cryptocurrencies this wallet is best.

• So this is very secure and trustable exchange's wallet.

My Experience in using different wallets

So now I am going to talk about my experience while using this wallets. The experience of my Crypto journey is great I mostly used the above mentioned wallets for the sake of my transfer the transactions. These wallets have make my assets and transfers easier and conveinent.

There are a lot of benefits to use these words for the payments and different transactions can easily performed by some clicks. It makes me satisfied towards my assets that we cannot easily hacked so the danger of hacking is less in my mind. Another benefit that I got from the digital wallet is that these wallets offers transactions with the low Trading the fees and in this way we avoid from the high taxes.

In the case we have to pay any dues on different websites to on the different computer courses we can easily transfer and may payments in US dollars stored in our wallets with low fees and taxes.

Have you ever face any scam

Yes, in my Crypto journey I have face many scams and If I talk about the wallets there are many scams where we lost our assets and currencies. Specially by transferring hour currencies to the third party to Got reward. In this many people got trapped while transferring their assets story 3rd person who use our keys and lost all the amount of currency we have in our wallet.The same case was with me I also trapped in this scam by a third party person who said me to give an extra reward if I used to transfer TRX by using the keys.

Some method to protect wallet

Now I will talk about some methods that we can protect our volers for many kind of in security and from the third person specially that no one can got access to our assets.

• Always keep your keys of alert at the safe place and make sure their protection so that no one can access your wallet.

• Do not give the information of your wallets to any unknown party and before making transactions make confirm about the address.

• Never Link your wallet to any third party specially without verification.

• The person who has the key has full access to the account So never provide your keys to anyone.

So these are some methods that how can we protect our wallet to secure our assets in the wallet and to avoid the process of hacking make sure your keys are at safe place.

Hot and Cold Wallets

So now I am going to talk about the hot and cold and the wallets which and the wallet which I prefer the most. There are hot and cold wallets to use for the storage of our digital currencies.

Hot Wallet

These wallets are user friendly and can be acessed in the presence of internet.These wallets are free to use and are less secure than that of the cold wallets.These wallets does not need any kind of external device for the sake if its working.We can run the hot wallets simply on oyr phones in the presence of internet.These wallets are widely used wallets for the storage of currencies and can be used freely without any cost.

Cold wallet

These wallets can be acessed by the without use of internet.These wallets are very secure specially for the storage of long term assets these are very securable.These wallets required a device which have some cost to work.This device can be in the form of any hardware.

Which wallet did you prefer

The choice of the wallet depend upon the currency you want to store and also on the time if you want to save any currency for a long time cold wallet will be better because it is most secureable and there is no any chance of hacking.

The wallet for the most is the hot wallet because I used to exchange currencies for the sake of trading that's why it is not stored for long period there another reason is that it is free to use and very easy. So I use hot wallets for my exchange.

But the crypto users wants to store their crypto currency's then preferred the cold wallet but if we want trade then we use the hot wallet for this purpose but the hot wallet is not secure cold wallet is completely secure.

Conclusion

Wallets are very important and great source to store your digital assets.With the help of these wallets transactions and exchanges become more easy and safe these things added the conveniance in our exchangings.As the cryptocurrency is growing there are also so many cryptowallets that are introduced in the market with new development and more coustomer support.Hot and cold wallets both has their own importance.

Thank you

I would like to invite:
@abdullahw2
@malikusman1
@alihussain07
to participate in this contest.

Thank you

Topic	My crypto wallet
COMMUNITY	steemitcryptoacademy
LOCATION	PAKISTAN🇵🇰
AURTHOR	@jani786
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