Topic: DIFFRENT TYPES OF WALLETS -ALL HAVE TO KNOW THIS!!!! (Read 251 times)

Cold wallet is very safe, but the cost is high, the ease of use is poor. However, like the traditional Armory, it is generally not a small cost to find a non-networked computer dedicated to installing an Armory offline terminal. If the cold wallet will be installed on an idle old phone like a wallet, it will not only cost a lot less, but also be convenient to use.

This is very helpful to all newbies who are thinking what wallets are safe and what are not. I use myetherwallet at this moment because I don't have enough money to buy an hardware wallet. Maybe in 6 months or more, I will buy my hardware wallet if I have some money to buy for it. Hardware wallets are the best wallets for me but make sure buy it at the official website. There are some news saying that their coins were gone because the old owner retrieved it using the keys. Be careful when buying hardware wallets.

Thanks for this piece of information, but based on what I have read your post, I think I rather prefer using the hardware wallet on phone and computer/desktop devices because it is much safer and hassle-free as compared to paper wallet in which you would still think which is legit seller of this kind of wallets and that would be an additional assignment for you.

it depends how much you have and how much you care about your crypto.
There is no need to get an hardware wallet (i would recommend to get one) if you are careful enough with your private key/passphrase.
For small transaction/small amount of crypto, a desktop wallet it's more than enough with a proper backup of private key but for long term holding definitely hardware or cold wallet it's the way to go.

 To choose the best wallet depends on the rate of transaction, size of transaction, Cryptocurrency exchange and storage.

•   Small and frequent transactions: Online wallets or Software wallets

•   Cryptocurrency exchange: Online wallet.

•   Occassional big transactions: Hardware wallet

•   Storage only: Hardware wallet or paper wallet

It is an excellent information, it is very well explained. I have a question. Which of the different types of wallets is the most recommended?

Myetherwallet is safe as they said that they couldn't save any of private keys but still more chances of hacked so i recommend you to use the hardware wallet beacause it's more safe than any other wallet and you can easily store you bitcoin in this wallets and anyone can't hack it but if you can't afford this then i recommend you to use the desktop wallet or paper wallet beacause these wallet are also very safe and you can get it free of cost.

I recommend to buy directly from their official site for more safety
-Trezor
-Ledger

No need to buy hardware wallet if you dont want it, just import it to ethereum dekstop/android wallet using your private key or your wallet file for more safety. But hardware wallet still the best choice so i recommend you to buy it if you want.

I think the best wallet is cold wallet.
it is the most safe wallet and he almost can't be hacked.
trezor or ledger they are the main two.

Hello.
I use the online wallet myetherwallet so is it safe for me or i have to buy the hardware wallet?

If you want to buy hardware wallet then i suggest you to buy the TREZORE currency wallet.it's very safe and secure and i personally use it.you can buy it from the amzon

You can buy this wallet through this link:-
https://www.amazon.in/Trezor-Bitcoin-Currency-Hardware-Wallet/dp/B00R6MKDDE?tag=googinhydr18418-21&tag=googinkenshoo-21&ascsubtag=4a94c89a-400d-4fae-ad37-bb26c8938cfa

You can easily use by watching this tutorial on YouTube.
Link:- https://youtu.be/h4RGA58ZtOk

I see many of people aksed many times about the different wallets information.so i think this content will  help all the members who want to know about the different cryptocurrency wallet.

There are basically two types of wallets.
1.HOT WALLET
2.COLD WALLET

HOT WALLET
           The hot wallet is also known as internet wallet beacause it's connected with the internet.you can access  this wallet any time and anywhere from your computer or smartphone which have internet connection.the security of this wallet is very less than the hot wallet And  more chances of hack.it usually free.

There are different types of Hot wallet available in cryptomarket.

1.ONLINE WALLET OR WEB WALLET:-
              This types of wallet are comenly use for store cryptocurrency.this wallet is hosting through the clouds and you can easily access this wallet from any location by your computer or samrtphone but your private key is store by the third party.Therfore this wallet has more chances of hack.

2.MOBILE WALLET:-
               This type of wallet you can easily use by install  the wallet application on your  smartphone.mobile wallet is available for all android,ios, blackberry etc systems.this wallet is very simple so anyone can easily use it.

3.DESKTOP WALLET:-
              This wallet is same like the mobile wallet but you can use this wallet by only your one computer.you have to download this wallet in your PC and install it. it's more secure and safe than any other hot wallet but you you can loss your all funds if your computer hack by someone.

COLD WALLET:-
              This types of wallet is not connect with the internet connection and it's usually on some device or paper.This wallet is also known as the offline wallet and safest among the all wallets.The hacker can't hack your this wallet.this wallets are use for long term storage and cold wallet may cost for purchase the device.

There are different types of cold wallet available into market.

1.PAPER WALLET:-
              Paper wallet is easily use and it's more secure.this wallet is in the form of paper which contains the private key and public key.The public key is for recive the bitcoin and public key is for spend the bitcoin. it's more secure wallet and no chances of hack beacause it's offline wallet.

2.HARDWARE WALLET:-
          This wallet is one of the most safest wallet.The hardware wallet is come with the USB so you can easily connect with your computer and send your bitcoins but hardware wallet doesn't need to connect for accept bitcoin.it's also offline wallet so no chance of hack.you can easily buy it from some online shopping sites.

So you can choose your wallets according to your convenience.But i suggest you as below.
▪️For small transaction:-online wallets
▪️For big transaction and storage:-hardware or paper wallet.