Types of Crypto Wallets

Crypto wallets are essential tools for storing, sending, and receiving cryptocurrencies. Understanding the different types helps you choose the right one for your needs.

Hot Wallets (Online)

Connected to the internet for easy access:

Software Wallets

**Desktop**: Installed on your computer (Exodus, Electrum)

**Mobile**: Apps on your phone (Trust Wallet, Coinbase Wallet)

**Web**: Browser-based (MetaMask, Phantom)

Pros & Cons

✅ Convenient and easy to use

✅ Quick transactions

❌ Vulnerable to online attacks

❌ Device security dependent

Cold Wallets (Offline)

Stored offline for maximum security:

Hardware Wallets

Physical devices (Ledger, Trezor)

Store private keys offline

Sign transactions securely

Paper Wallets

Printed private keys

Completely offline

Risk of physical damage

Pros & Cons

✅ Highest security level

✅ Immune to online hacks

❌ Less convenient

❌ Initial cost for hardware