Types of crypto wallets

  • Hot wallets and Cold wallets are the two different classifications of crypto wallets based on their storage type.

    Hot wallet consists of
    Web wallets

    • They are browser-based wallets that facilitate flexible crypto transfers.
      Mobile wallets
    • These are similar to normal mobile apps and they enable instant crypto payments On The Go.
      Desktop wallets
    • They run on desktops (installed as software) and can be accessed only when necessary.

    Cold wallet consists of
    Paper wallets

    • Writing down the private keys on paper and storing them in a secured location.
      Hardware wallet
      -They are USB-like devices and they offer the highest security to one’s crypto assets.