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Setting up your crypto wallet

The perfect place for saving your crypto value is in the crypto wallet. At this moment we can see many different crypto wallets. But the most popular are those with host, non-custodial wallets, and hardware wallets. You will choose your perfect wallet, depending on what you want to do with your crypto values. 

So, as we mention, the most popular wallets are hosted wallets. This wallet is also easy-to-set. Once you buy crypto, you will be able to see it in your wallet. Why is called a hosted? Well, because a third party is taking care of your crypto. Similar to a bank, a bank is holding your money in a safe place. 

The main benefit of this wallet is that even if you forget your password, you wouldn’t lose your crypto. But you can’t access everything that crypto is offering. Still, this can change, because they are evolving. 

Self-custody wallets is offering full control over your crypto. In this case, you wouldn’t have a third side who is taking care of your crypto. For that reason, you will need to take care of your password. So, if you lose your password, you will lose your crypto. And if someone else finds out your password, they will have access to your crypto. This wallet is offering some good things, like more advanced crypto activities. But if you only want to sell, buy, send and accept crypto you will not need this type of wallet. 

Hardware wallets are small devices, where you will have all your keys and crypto. But only a small amount of people are using this type of wallet. The main reason for that they aren’t so easy to use. But they have some advantages. They will protect your crypto even if someone hacks your computer. However, if you want to buy this type of wallet, this could cost you more than 100$

 

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