{"id":376403,"date":"2021-12-04T16:00:16","date_gmt":"2021-12-04T13:00:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-a-crypto-wallet\/"},"modified":"2021-12-04T16:00:16","modified_gmt":"2021-12-04T13:00:16","slug":"what-is-a-crypto-wallet","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-a-crypto-wallet\/","title":{"rendered":"#What Is a Crypto Wallet?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a32137e3e7e9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a32137e3e7e9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-crypto-wallet\/#What_Is_a_Crypto_Wallet\" >What Is a Crypto Wallet?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-crypto-wallet\/#Hot_Wallets_vs_Cold_Wallets\" >Hot Wallets vs. Cold Wallets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-crypto-wallet\/#Hardware_vs_Software_Wallets\" >Hardware vs. Software Wallets<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>&#8220;#What Is a Crypto Wallet?&#8221;<\/strong><\/p>\n<div>\n<figure style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage wp-image-772004 size-full\" data-pagespeed-lazy-srcset=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/11\/shutterstock_1041240385.jpg?width=398&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 400w, https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/11\/shutterstock_1041240385.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 1200w\" sizes=\"auto, 400w, 1200w\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/11\/shutterstock_1041240385.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Coins representing cryptocurrency in a physical wallet.\" width=\"1200\" height=\"675\" data-crediturl=\"https:\/\/www.shutterstock.com\/image-photo\/crypto-currency-coin-leather-wallet-on-1041240385\" data-credittext=\"stockphoto-graf\/Shutterstock.com\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"type:primaryImage imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/crypto-currency-coin-leather-wallet-on-1041240385\">stockphoto-graf\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>If you want to own cryptocurrency\u2014either because you\u2019re looking to invest or because you want to spend money online\u2014you\u2019re going to need a crypto wallet. Using one will let you keep your crypto safe, while also allowing you to make transactions.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"What_Is_a_Crypto_Wallet\"><\/span>What Is a Crypto Wallet?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A crypto wallet is nothing like your regular, real-life wallet. Right now, you could probably reach for your wallet, open it up and either take out physical money or put some back in\u2014or at least some kind of payment card. A wallet doesn\u2019t protect your money in any way, except maybe from the weather or getting lost in your bag.<\/p>\n<p>A crypto wallet is a different beast entirely. A crypto wallet is more or less your identity when you buy Bitcoin or any other cryptocurrency: its address is how your buying and selling is recorded on the blockchain (and also the reason these currencies aren\u2019t anonymous).<\/p>\n<p>Because of this, technically you don\u2019t <i>need <\/i>a wallet when doing anything with cryptocurrencies: you could just leave them on the exchange you bought them, or write down the wallet address and passkeys and hope you don\u2019t forget where you left them. This method is jokingly referred to as a paper wallet and a great way to make sure you\u2019ll never see your cryptocurrency again.<\/p>\n<p>It\u2019s better to be safe than sorry when dealing with these sums of money, so using a software wallet is a good idea. Luckily, you have plenty of options. For example, many crypto exchanges come with built-in wallets, meaning you can trade and store from a single interface (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fwww.coinbase.com%2F\">Coinbase<\/a> is an example of this).<\/p>\n<figure style=\"width: 640px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-771395 size-large\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/11\/Coinbase-interface-650x433.png?trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Coinbase interface\" width=\"640\" height=\"426\" data-credittext=\"Coinbase\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"imagecredit\">Coinbase<\/span><\/figcaption><\/figure>\n<p>That said, plenty more options don\u2019t do more than just provide a simple graphical interface where you can see what you have and very little else. If you prefer to keep your exchange and your wallet separate, wallets like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/electrum.org\/\">Electrum<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/wallet.mycelium.com\/\">Mycelium<\/a> may be a good choice for you.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Hot_Wallets_vs_Cold_Wallets\"><\/span>Hot Wallets vs. Cold Wallets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>All the above are examples of software wallets, also known as hot wallets or hot storage. Hot storage means that the wallet is connected to the internet and you can use it to directly pay for things, as well as acquire new cryptocurrencies in real-time.<\/p>\n<p>On the flipside of hot storage is, unsurprisingly, cold storage. This means that the wallet is not connected to the internet and really all it does is store your keys and that\u2019s it. In almost all cases, this means you\u2019re using a hardware wallet. This is usually some kind of USB key that you plug into your computer and which then gives you access to your exchange of choice.<\/p>\n<figure style=\"width: 773px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-748406\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/08\/ledger-wallet.png?trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Ledger wallet\" width=\"773\" height=\"500\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fshop.ledger.com%2Fproducts%2Fledger-nano-s\">Ledger<\/a><\/span><\/figcaption><\/figure>\n<p>Paper wallets\u2014where you write down your access codes on a piece of paper\u2014technically are also a form of cold storage. As you can imagine, this isn\u2019t particularly safe, especially if you\u2019re the type to leave scraps of paper around the house.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Hardware_vs_Software_Wallets\"><\/span>Hardware vs. Software Wallets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Though there is a definite line between hardware and software wallets, the line blurs a little at times. For example, you can use a hardware wallet to access your hot storage, and you can use a software interface to update your cold storage.<\/p>\n<p>Aside from these fringe cases, though, you can assume that software wallets are meant for hot storage and hardware wallets for cold. In practice, this means that you use your software wallet to trade in crypto and to make purchases with it. Cold storage is more for people that are looking to buy crypto and hold in hopes of a major payday somewhere down the line.<\/p>\n<p>If you\u2019re not sure which one is the best for you, you might want to consider it like this: if you want to be able to see in real-time what your crypto is doing and like being glued to the graphs showing its performance, a hot wallet is the way to go.<\/p>\n<p>If you just want to buy some crypto on the cheap right now and then cash in if you ever catch wind of a massive upswing\u2014or even just because you want to hold for the sake of holding\u2014 then cold storage is the best option for you.<\/p>\n<p>Whichever option you choose to go with, just make sure that you know where your passkeys are, and that you\u2019ve kept the passwords for your wallet safe; you don\u2019t want to lose your cryptocurrency because you misplaced your keys\u2026<\/p>\n<\/div>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Using one will let you keep your crypto safe, while also allowing you to make transactions. What Is a Crypto Wallet? A crypto wallet&#8230;<\/p>\n","protected":false},"author":1,"featured_media":376404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2021\/11\/shutterstock_1041240385.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-376403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=376403"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/376404"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=376403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=376403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=376403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}