Cryptocurrency wallets are simply software programs that store private and public keys that interact with various blockchains. A wallet provides a way to send and receive digital currency and track account balances.
The cryptocurrency itself is not stored in a wallet. It only exists as a record of transactions stored in the blockchain.
Securing your Cryptocurrency
Altcoins only remain secure if the private key was generated securely, remains a secret, and controlled solely by the owner.
It is very important to follow some general guidelines in order to avoid theft, scams, and other loos of funds. Large transactions should always generate private keys in a secure, offline environment. These private keys should also be backed up on secure external drive, preferably in several secure locations. (bank vault, Iron Mountain Storage, etc. )
Types of CryptoWallets
Desktop: Online: Mobile: Hardware: Paper:
How Many Wallets Do I Need?
You may be asking yourself "How many wallets do I need?", "Which wallet is the best one for me?" The answers often come down to personal preference and type of hardware used. Did you know that several popular cryptocurrencies can be traded on Robinhood? Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, and others can be traded commission free 24 hours a day, 7 days a week. This popular stock trading platform just got a lot more interesting. Use my referral link to sign up today and we both are awarded free stock. Keep it or sell it to off and use to pick up some bitcoin! https://join.robinhood.com/briant2490
Keep in mind that although your Robinhood account is great way to convert cash into crypto and vice versa, Robinhood wallets do not function the same as other trading platforms. This feature is currently not supported for security reasons. Simply trade your coins back to cash and transfer to your linked bank account to access the money.
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