Wallets In Crypto Currency And Types Of Wallets In Crypto Currency

For saving our currencies the service we use and protect our keys of transaction is called crypto currency wallet.As i real life we use wallets for saving our money and in crypto currency we use wallets for transaction keys and for saving our crypto currencies and crypto currency wallet is also known as digital wallet.In other words the space for saving crypto currency is called crypto wallet.Every crypto currency wallet has one public key and one private key.For example if we have digital wallet and we have ten coins and we want to send these coin to other wallet account then firstly we have to know the public key of other wallet account for transaction.

Types Of Crypto Currency Wallets

1. Hot Wallets
2. Cold Wallets

Hot Wallets

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The wallet use for online everyday transaction is called hot wallet.In this wallet we did online transactions every day.

These wallet almost connect with internet every time.

But hacker can hack this wallet and not suggested for anyone to hold crypto currency in this wallet for long time.

This wallet is easy and free to use.

These wallet is also web wallets and exodices.

Desktop wallet and Mobile wallet and online wallet are the types of these hot wallets.

Cold Wallets

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Cold Wallets are the wallet for saving crypto currencies for long term and from savings these currencies from hackes.In this wallet we use offline service from saving it from hackers and for saving crypto currencies.

It is not always connected with internet and it is offline some time.

These wallets are not free and these are paid wallets.

This wallet is more secure than hot wallet.

Paper wallet hardcore walletsare the hot wallets.

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