🏧 Secure Crypto Wallets
Crypto wallets explained.
Today's Highlights
- Blockchain Wallets
- Today's Infographic
- In Other News - a few interesting developments we're tracking.
Blockchain Wallets
In the last few years, interest in Cryptocurrency has exploded. Bitcoin and Ethereum have reached new highs. The “meme” coin, Dogecoin, went “to the moon” and came right back down. Some coins such as Luna lost practically 100% of their value. All those coins described can’t just live in a traditional bank account. They must be stored in secure and decentralized platforms on the blockchain called blockchain wallets.
A blockchain wallet is a wallet that allows its users to store and manage different types of cryptocurrencies. Due to the wallet being on a decentralized chain, it is easy and fast to exchange funds with someone else while ensuring security by having transactions cryptographically signed.
They can be safely accessed from any web device, such as a smartphone or computer. Accessing the blockchain wallet is very similar to using an email and password to login into a website. You get a public key (shared with everyone on the blockchain) and you get a private key (a top-secret key that only the owner of the wallet should know).
Traditional online wallets pose many problems such as slow transactions, risk of corruption, and the fact that everything has to pass through a central intermediary (the bank). Blockchain wallets eliminate many of these problems due to the wallet being on a decentralized blockchain, allowing for privacy and immediate transactions that will be marked clearly on its blockchain.
Metamask is a popular crypto wallet established in 2016 for Android, IOS, and the Google Chrome browser. The platform allows users to buy, store, send, and swap Ethereum-based cryptocurrencies. Metamask also allows users to connect to Blockchain apps in a secure and simple way. It also has utmost security features which allow the user to have complete control of what to share.
Coinbase is another popular crypto wallet that was established in 2012 for Android, IOS, and web browsers. Coinbase allows the user to trade with more cryptocurrencies than Metamask by supporting cryptocurrencies on 3 different blockchains. Users can also buy, trade, and sell NFTs on the wallet.
As the world begins to change its habits and transition its money into crypto, it will be more and more important for new blockchain wallets to pop up and current ones to upgrade their services in order to make cryptocurrency more accessible and secure to use.
🧐 Today's Infographic
In Other News
Jesse Hamilton
Helen Partz
