A guide to cryptocurrency wallets covering hot and cold storage, desktop, mobile, hardware, and paper options. The host stresses protecting passwords and secret codes, backing up software wallets, and storing paper wallets safely. Diversify across wallet types since long-term availability is uncertain.
What's going on? Cointelegraphers, this is Rodeymic here with today's crypto 101 on wallets. Now let's talk about wallets. This right here, friends, is a wallet. And here are my cards, my money, and a photo of Lucy, my dog. I can put here anything and everything that I want. If I lose my real wallet, hey, I lost all my money, my cards, and even Lucy's photo. Where are they? In case of a crypto wallet though, I can bring all my money back. Hey Mikey, send me my wallet back, please. Thank you. There are different types of wallets held online or offline, or as we call them in the industry, hot and cold wallets. Desktop, mobile, online based physical and hardware wallets. Let's take a look at them. Any online or hot wallet has the risk of being hacked into. Hackers can phish your information or they can simply hack the company's server. Or you can simply lose your phone or have it stolen. Be careful with phishing websites and if you lose it, make sure not to forget your email and your email's login credentials. Now some Wallers do offer a backup system, but try not to lose the computer which you've downloaded. A software to register a wallet is simple. First of all, choose one of the links below. Then either download the wallet on your computer or your mobile phone or just register one on the links below. Remember your password and secret code. Voila. Now you have a wallet. What is a paper wallet? It's simple. You get a printed piece of paper which contains your wallet info. And if someone steals this paper, hey, then they'll steal your wallet. Make sure that you store it into your safety deposit box. There are some details in using hardware wallets, you purchase the USB and have it shipped directly to your home. As for all cold wallets, the security is based on how you handle the hardware. If you lose it, hey, then you'll lose all your money. So don't lose it. And here's a tip, make sure to keep it away from your kids and your dog. We saw a variety of wallets. Now you ask, what kind of wallets should I choose from? I'll tell you all of them. The reason why is we don't know which one of these wallets is still going to be in business 10 years from today. Now comment down below and please let me know how many wallets you have. And take a guess at how many I have for a chance to win a prize.
