A digital wallet or wallet is a place where we can have “protected” our cryptocurrencies, operating similarly to a bank account. Depending on the type of wallet, it will have certain characteristics that will guarantee the security of our assets. There are different types of wallets: some for frequent payments and others for savings.

Regardless of the type of wallet used, it is important to have a backup in case of any problem, such as the loss of the cell phone or the damage to our personal computer, as well as we must correctly choose the place where to keep the keys that we print to avoid them being lost (it is recommended to always have a backup of all passwords and private keys). Next we will know some types of wallets or Wallets:

Desktop or PC wallet

This type of wallet is one of the most widespread, it is basically a program or software that is downloaded to the PC / Laptop (in some cases it runs 100% online using a web browser). It is recommended that our team have a good antivirus program to use this alternative. There are a variety of desktop wallets that meet different needs, as well as some guarantee security, others are focused on maintaining anonymity.

Mobile Wallet

A mobile wallet or wallet allows us to interact with our cryptocurrencies from a mobile device, this option is ideal if the person has to move / travel or if they want to make payments to other individuals, businesses or companies, this is one of the most used alternatives to global level due to its portability, flexibility and comfort, however it has the disadvantage that we can lose the mobile device. Like online web versions of PCs, online mobile applications allow you to interact with cryptocurrencies online (as long as you have an Internet connection).

Hardware Wallet

Hardware wallets or physical wallets, are basically electronic devices to store cryptocurrencies, they are not very flexible to make payments, but they are ideal to be used as a means of saving, a usb cable is necessary to connect to the computer and install the hardware wallet, there the cryptocurrency will remain offline.

Paper wallet

It is the simplest of all the Wallets, it consists of printing the private key or the QR code (which represents the private key) which is kept in a secure physical place, when you want to access the funds, we need to look for the paper and then scan the QR code with our mobile or our private key is written in a desktop wallet. The security of our private key will depend on us, since we must correctly choose where to store it and prevent it from being lost.

What do you think about this topic? What type of digital wallet do you think is best?

If you want to have your own digital wallet or wallet in Mercury Cash you can download our application at the following links: Android (Google Play) or iOS (App Store).

Image by Alejandro Escamilla via unsplash.com under creative commons license.

Leave a Reply

Your email address will not be published.