March 10, 2020
Since childhood, it is always taught to each one of us that to store our money in a safe place is a wise act. We all know the CryptoCurrency industry has taken a significant turn in recent years and it does not exist in a physical form, yet it holds value. Hence, it is important to save it in a safe place, and a CryptoCurrency wallet solves the same purpose.
What is a CryptoCurrency Wallet?
A user who tends to trade and monitor his digital currencies in coordination with various Blockchains, the Cryptocurrency Wallets act as a medium to allow the traders to utilize their assets more effectively and enables the user to store their private and public keys to smoothen the functionality. For the security purpose, every individual Cryptocurrency wallet address has a unique private and public key although the majority of crypto wallet security depends on the wallet type selected and its service providers. A wallet address is like a bank account number and there is no limit to the number of wallet addresses one can create. Different wallets offer different features, such as extra security, user-friendliness or convenience to the users.
Different Types of Wallets for the Safety of your Assets:
Desktop wallets are a great option for anyone who sends frequent Crypto payments from their computer as these can be downloaded on to the laptop or PC and the assets stored can be directly accessed via desktop only. If you’re on your computer a lot and don’t need super secure storage, a desktop wallet is a good choice but this isn’t recommended often, to store large amounts of Crypto Coins.
Desktop wallets are actual apps that are installed on your computer.
Due to its ease of accessibility, Mobile crypto wallets are more preferred over desktop crypto wallets. For intermediate and advanced users who like to manage their Cryptos on a go, they can just carry their Crypto Mobile wallet downloaded on their mobile with them. This also makes easy for the user to make payments to the retailers/merchants who accept crypto currency.
Online/Web Wallet When it comes to the convenience to be offered, online wallets are the best option for most users as one can just connect to the internet and have an access to his online wallet from any server or any device in the world. These wallets are created to simplify crypto specifics and make access to coins easier. A user can have access to more features and more crypto trading options, with these wallets.
Paper Wallet Paper wallets are recommended for highly cautious users due to its advanced safety features. The user can have full control over his crypto currencies storage as the public and private keys are printed on a piece of paper in the form of QR codes which he can scan in the future for all his transactions. All one needs is a computer, an internet connection, something to record the keys on.
Hardware Wallet These wallets are referred to the physical devices to store the CryptoCurrency safely. The hacking threat is lessened as the CryptoCurrency is stored in an offline mode here. For a non- technical Crypto trader or for the one who is less familiar with the codes and other details, Hardware Wallet serves a great purpose for them. Just remember to keep it in a safe place without mentioning it to a lot many people.
To choose a right Crypto Wallet for yourself depending upon the requirements and needs, you must look around and select wisely as there are multiple options available in the market. Hence, JD Coin in cooperation with TRUST WALLET gave its users access to a safe and secure Mobile wallet. Trust Wallet is the premier mobile Ethereum wallet which works with any ERC20, BEP2 and ERC721 tokens along with supporting the main Blockchains in the Ethereum ecosystem. It is an intuitive and easy to understand yet packed with tons of useful features enabling the traders of JDC to avail multipurpose benefits of your Crypto currency.