It's another week to learn things concerning cryptocurrency Wallet, I wouldn't want this knowledge to pass me by as this is my first time of partaking. Warm greetings to all my fellow kids present.

I really appreciate this privileged given to all us to learn the basic statics attached to steemit and about cryptocurrency. My gratitude to @benton3 for this awesome opportunity.

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What Is A Cryptocurrency Wallet?

A cryptocurrency wallet can be defined as any physical medium, device or computer program that is used to store the keys for a cryptocurrency transaction. In cryptocurrency wallet you have the ability to store and be able to retrieve digital assets. With it your investment are safe and stored in a particular place.

In steemit, cryptocurrency wallet automatically gets generated when signed up followed with the keys that will be given to you to have access to them and with these keys you are able to do some transactions with cryptocurrency like withdrawal and transfers from your wallet. Every steamian ueses his/her wallet to store their STEEM, STEEM DOLLARS, and even the Tron we get.

What Are The Benefits Of A Cryptocurrency Wallet?

There are lots of benefits which include;

• A cryptocurrency wallet makes it easier for users to store, manage and do transactions with their cryto assets.
• It's security is assured based on the type of wallet you use.
• It helps us to manage our crypto balances.

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Mention The Types Of Wallets

The main two types of of crypto wallets include;
✓Software wallets.
✓Hardware Wallets.

SOFTWARE WALLETS:
This type of wallet are mostly used by people today, This wallet can come in form of an app or run on a browser. Most of them uses the internet connections and makes it easier for making payments and transactions with less difficult.

Some of the wallets in software wallet Includes;
✓ Online or web wallet.
✓ Mobile wallet.
✓Desktop Wallet

HARDWARE WALLETS:
This type of wallet does not require internet connection to work, Thursday making it a secure form of storage. It stores it's users keys in a very secure hardware and can be moved or transferred to other devices. Hardware wallets are not user-friendly compared to software type. Accessibility to cryto assets tends to be more difficult.

The wallet here is;
✓Paper.

Explain The Classification By Mode Of Storage

In this part, we have two types of wallets bassed on Mode Of Storage which includes;

• Hot Wallet:
  This type of wallet works with internet connection, thus making cryptocurrency wallet unsecure. They are more easier to use, more user-friendly and prone to security and cyber attacks.

• Cold Wallet:
  This type of wallet requires no internet connection to store cryptocurrency, it stores them in an offline mode. It is less user-friendly compared to hot wallet .it can be stored in a detachable drive or computer hardware, which can only be accessed when you want to use it.

Conclusion:

Learning about cryptocurrency wallet was really understandable and amazing, I enjoyed every bit of it. Above is my assignment and mostly written to my understanding of it. Thank you again @benton3 for the opportunity to take part!.

Special regards:
@benton3
@steemkidss
@ngoenyi