GRASSROOT CRYPTO EDUCATION (Vol.6) - WALLETS IN CRYPTOCURRENCY//10% CASHOUT TO STEEMKIDSS

introduction

It's my pleasure to join in this crypto lesson for the first time in this community and I also regret why I didn't participate in the other lessons because I feel like I have missed a lot of good things.

And I also like the topic of the lesson today and I will like to put my area of concentration firstly in what is WALLET CRYPTOCURRENCY.

What is WALLET IN CRYPTOCURRENCY

According to our lesson,wallet in CRYPTOCURRENCY is said to be any device or object that one can use to store his or her cryptho assets and also can be used to store other flat like money,gold, pictures and other things.
And also we were taught the wallet in CRYPTOCURRENCY can only be seen in two forms which is physically or digitally which means that you can save your cryptho physically with the help of your USB which is saved offline and also you can save your crypto online.i.e they are connected with internet.
With this knowledge I believe that crypto walletd can be connected or not connected to the internet.
In this case wallet in CRYPTOCURRENCY can be classified in two types which are:
Hot wallets
Cold wallets

hot wallets

Hot wallets in CRYPTOCURRENCY is said to be the ones that are connected to the internet and which means that it can only be used online and the user can withdraw asstes from it only via the Internet,it can be used at any desired time and it is very easy to use but main disadvantage of hot wallet in CRYPTOCURRENCY is that it can easily be hacked since it is done in the internet and also we all know that hackers are too many in the internet and you might also lose your wallet whenever you forget or use you wallet key(like me,I once lost my steemit wallet key and all my earnings were gone).Examples are coinbase wallet,Exodus etc.

cold wallets

Cold wallets as we are taught in this lesson can be seen as a type of wallet that can be operated offline and it is said to be the most secure type of wallet because it is free from hackers and it can also be connected to the internet at some point and the keys are generated by it's users secreting and makes it more secure than that of the hot wallet.
As I first said that they can be connected to the internet when it is needed but some are kept completely offline and these cold wallet are classified into two forms
Paper wallet
Hardware wallet.

Paper wallet
These are wllets that it's activities is basically in a sheet of paper and has all the required information to access the stored assets.

Hardware wallet
This is a type of cold wallet that all assets are stored in a form of USB and can be connected to another device.

difference between hot and cold crpto wallet.

• As we were thought,hot wallets which are stored online with the help of the internet can be used to store large volume of crypto and as for the cold wallet which is stored offline can be used to store less crpto asset.
• As for the hot wallets,they are susceptible or they are exposed to hackers whicheans that they can be hacked by a hacker at any point in time.
  But as for the cold wallet,they are not susceptible to hackers and which means that they are not exposed to hackers.and also the keys are stored offline and which means that it can not be misplaced easily.
• And also hot wallets are flexible whicheans that you can ccess your assets easily through the help of the internet but as for the cold wallet,they can not be accessed easily because they need to be connected to another device before use.

which one do you prefer

If it was up to me I will rather choose the cold wallet.

reasons

• I will choose the cold wallet because it is free from hackers.
• I will choose the cold wallet because it's keys are stored offline and that means that I will store it in a secure place.
• I will choose the cold wallet because it is less expensive to run.that is,I will not have to spend my data to check my assets.

Thanks to the professor @fredquantum for this lecture and also @steemkidss for giving us this very opportunity to learn this stuff.