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Title: Crypto wallet explained simply. Post by: KarlKanKarl on February 25, 2020, 10:25:20 AM I am a newbie yet but I know a lot about the crypto wallet. Higher ranked members would know pretty more about the wallets but this will be helpful for new people that just joined in crypto world.
Crypto wallets are used to save cryptocurrencies like bitcoin. It generate you crypto addresses. The address are called public key like bank account number where you can send cryptocurrencies. Note: sending crypto to a wrong address is 99% to 100% impossible to be reversed. Send to the right address. The best is to copy and paste the address. Crypto wallet also have private key, just like a password but different from a password because it gives you the full ownership of the wallet. Some wallet do not have this feature. There are two types of crypto wallet: 1. The online/hot wallet 2. The offline/cold wallet The online wallets are not safe and more susceptible to cyber attack. There are 3 types. The web wallet Web wallets are wallets you can access through the browser, it can be mobile or computer browser. The mobile wallet The wallets you can access through a mobile app. The bitcoin wallet and mycelium wallet are example. The desktop wallet The wallets you can access through laptop or other computers. Example is bitcoin core and electrum wallet. You can use it to connect to your hardware wallet The offline wallets are the safest wallets and are of 2 types The paper wallet As the name imply, some organizations provided you the opportunity to save cryptocurrencies on papers. It is very safe to use. But some people see it like a transitional means. The hardware wallet It is very safe too like the paper wallet but are very expensive. You will save the cryptocurrencies on a hardware. There are 3 common hardware wallets. The Trezor Model T is the most expensive The Trezor one The Lender Nano X is the one you can also connect with phone or also with laptop The Lender Nano S is the most common used The third one is Keepkey. Making the fifth one I talked about the hardware wallet. Title: Re: Crypto wallet explained simply. Post by: Debonaire217 on February 25, 2020, 10:52:21 AM I think it is better if you move this thread to beginners and help for newbies to also learn about the information you've provided.
I just want to add something about it, when we are copy and pasting wallet addresses, we need to make sure that we double check the information that we copy if we paste it. Make sure that it matches the initial address because there are some clipboard malware that basically changes the address once we've copied it at the same time that it is activated. Title: Re: Crypto wallet explained simply. Post by: Twentyonepaylots on February 25, 2020, 11:00:40 AM I already pointed out the posting you need to make in order to earn a merit in your past post where some commented that it is not relevant at the present and assumed that you are just begging for merit. Although the topic is suitable for beginners, still we already have many of these threads on beginners and and help section. Not every wallet you have given is not applicable for all and might look silly for some. You need to think outside of the forum, post your insights or opinion on newest and latest events in the crypto space.
Title: Re: Crypto wallet explained simply. Post by: KarlKanKarl on February 25, 2020, 11:49:55 AM I already pointed out the posting you need to make in order to earn a merit in your past post where some commented that it is not relevant at the present and assumed that you are just begging for merit. Although the topic is suitable for beginners, still we already have many of these threads on beginners and and help section. Not every wallet you have given is not applicable for all and might look silly for some. You need to think outside of the forum, post your insights or opinion on newest and latest events in the crypto space. Thank you so much. But, how can I move this thread to the beginner section? I will also try my best to write new posts here with meaningful corners. I even posted another one you can see informative https://bitcointalk.org/index.php?topic=5228307.new#new Title: Re: Crypto wallet explained simply. Post by: odolvlobo on February 25, 2020, 08:11:49 PM Some corrections and clarifications ...
The address are called public key like bank account number where you can send cryptocurrencies. ... Crypto wallet also have private key, just like a password but different from a password because it gives you the full ownership of the wallet. Some wallet do not have this feature. An "address" is not a "public key". An address is derived from its public key. A public key is derived from its "private key". A private key is generated from the wallet's "seed". A private key is not a password, though there are some similarities. A wallet can hold many addresses. There are two types of crypto wallet: 1. The online/hot wallet 2. The offline/cold wallet The online wallets are not safe and more susceptible to cyber attack. There are 3 types. It is more complicated than that. A wallet can be ...
Each one of these affect the security, convenience, and functionality of the wallet. The Ledger Nano X is the one you can also connect with phone or also with laptop The Ledger Nano S is the most common used FTFY. Also, I believe that all hardware wallets can be accessed and controlled by compatible wallets on your desktop or mobile. I have several different hardware wallets and they all connect via USB to Mycellium and Electrum. Title: Re: Crypto wallet explained simply. Post by: jossiel on February 25, 2020, 08:33:27 PM We have other sets of hardware wallets that's also listed on bitcoin.org and those three are the most common hardware wallets. I've seen some other new hardware wallets from an unknown company and it's better not to touch those unlike someone reviewed their codes.
https://bitcoin.org/en/choose-your-wallet?step=5&platform=hardware |