There are several types of wallets to store your cryptocurrencies. Here's an overview of the most common options:
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Smartphone Wallets: These wallets are apps available on download platforms such as Google Play for Android or the App Store for iOS. They are handy for managing your daily transactions due to their accessibility. A notable example is the Digycode app.
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Online Wallets: These wallets operate via a web browser and allow you to access your cryptocurrencies from any device connected to the Internet. They are often provided by exchange platforms.
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Hardware Wallets: These are physical devices specifically designed to securely store your private keys, keeping them safe from online attacks. Common examples include the Ledger Nano S and the Ledger Blue. They offer enhanced security against hacking attempts.
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Paper Wallets: As the name suggests, this is a simple piece of paper on which both the public key (to receive cryptocurrencies) and the private key (to access and spend those cryptocurrencies) are printed. If lost or damaged, access to the funds is lost as well. It is therefore vital to keep this type of wallet in a secure place and make multiple copies.
Key Points to Remember:
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The Public Key: It allows you to receive cryptocurrencies. You can safely share it to receive payments.
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The Private Key: This is your exclusive access to your cryptocurrencies. If lost, you will no longer be able to access your funds. It's crucial never to share it and keep it in a safe place.