Crypto Wallets

Crypto Wallets

Every single person on earth must have heard about bitcoins by now, even if they do not fully understand what it is. Bitcoin, and many other crypto currencies like litecoin, dash, ethereum, and even dogecoin, have seen sudden surges in their prices over the last few years. 2017 especially saw a huge rise in the popularity and value of these crypto currencies with bitcoin leading the rest by reaching almost 20 thousand dollars at one point. It is no wonder that a huge amount of people then wanted to get in on the action and make some form of profit from a rising investment opportunity.

The reason crypto currencies like these are able to be as big as they are is because of the way they are valued. Bitcoin gets its value from people who invest in it. Unlike other currencies bitcoins are not centralized to any government or any type of commodity, like gold, or connected to any other type of currency. The entire currency exists virtually and because of that you need to store the money in a safe place digitally.

This is why the concept of crypto wallets was created. Crypto wallets are basically storing spaces for information about the crypto currency you own. You can store your own bitcoins in it and use them for spending through the wallet. There are generally two different types of crypto currency wallets available; there are hot wallets and then there are hardware wallets. The best bitcoin wallet would be the hardware wallets because they are often impossible to hack through a virus or through any sort of malware. The hot wallets are easier to hack but the hardware wallets are offline wallets and so keep your bitcoins safe. You never have to worry about someone trying to steal them away.

Sharing is caring!