Hello dear wonderful and beautiful kids to of steemkids community, and I will once again be participating in the crypto assignment by @benton3 it is fun to be able to understand all about crypto at a young age, and this week is about our crypto wallet, the questions are quite sure after understanding the lessons.

● 1. What is a cryptocurrency wallet?

It is a wallet were public and private keys are stored it also helps in decrypting or saving information. It is used to store and retrieve digital assets, it helps keep people keep their investments in One place.
In steemit, once a person is signed up, you can automatically get a wallet, where your keys can be stored, that wallet helps to store his steem, SBD, and Tron.

● 2. What are the benefits of a crypto currency wallet.

• It is easier to store and manage any business transaction.

• It helps keep our money secure.

• it helps users manage crypto balances

● 3. Mention the types crypto wallets.

Software wallet:

This type of wallet comes in different types and characteristics, which are most at times connected to the internet
Most of these are:

• Web wallet: it is used to access Blockchain through Browsers without installing or downloading anything. The disadvantage most at times is that it is not secure.

• Digital wallet: This is where you will download and execute things on your computer, it gives full control over your keys and funds, it contains your private key information to your wall so you should be able to encrypt your own password, it is also more secure than web wallet because hackers cannot get the password used to save it.

• Mobile wallet: it is specially designed As smartphone application, it is suitable for daily transactions and payments, it is not secure though.

Hard ware:

These are physical devices that use a a random number generator to get our public and private keys, it does not require internet connection, thereby making it more secure, they are not user-friendly hich means that accessibility to crypto assets is more difficult.
Examples are:

• Paper wallet: it is a paper which a crypto address and it's private key is physically printed in a form of QR codes. These codes can be scanned to execute transactions, it is usually stored offline and thereby fraudster cannot have access easily.

● 4 Explain the classification by mode of storage

They are:

• Hot wallet: it is connected to the Internet, they are very easy to set up and so funds are easily accessible, making it convenient for traders. They are user-friendly.

• Cold wallet: on the other hand, cold wallet does not require internet connection, they are used to store keys offline, making it harder for hackers to access them , it is suitable for long time investors.

This is the link to my introduction post

Cc:
@steemkidss
@ngoenyi
@benton3
@eliany
@goodybest
@chimeroselam