{"id":35591,"date":"2023-06-06T20:42:07","date_gmt":"2023-06-06T17:42:07","guid":{"rendered":"https:\/\/vigolex.net\/?post_type=service&p=35591"},"modified":"2023-06-06T20:42:16","modified_gmt":"2023-06-06T17:42:16","slug":"opening-of-the-cryptocurrency-wallets","status":"publish","type":"service","link":"https:\/\/vigolex.net\/en\/project-details\/opening-of-the-cryptocurrency-wallets\/","title":{"rendered":"Opening of the cryptocurrency wallets"},"content":{"rendered":"\t\t
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If you have already definitely decided on the need to work with cryptocurrencies and register on cryptocurrency exchanges, then you definitely need to understand how to store your assets and how to protect such assets from fraudsters.<\/p>

Unlike traditional fiat currencies, digital assets cannot be stored either in a bank account or in a safe. A special electronic crypto wallet is used to store cryptocurrencies, which enables the user to send and receive digital currency.<\/p>

A cryptocurrency wallet<\/strong> is software that allows users to interact with each other as well as with exchanges to transact on the blockchain. Crypto wallets store two types of critical information, namely the user’s public and private keys.<\/p>

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The public key<\/u><\/em> is the personal address of each wallet in the blockchain, which allows you to ensure the implementation of transactions and the receipt of digital assets. The public key is available to all counterparty users, because the knowledge of this key allows you to transfer a certain cryptocurrency within the blockchain to your personal account in the crypto wallet.<\/p>

A private key<\/u><\/em> is a special combination of characters that provides access to cryptocurrencies stored in a wallet account. Only the user who has the private key information can move and spend their digital assets. This key must be known only to the owner of the wallet, since the possession of this data by criminals is equivalent to the user losing all cryptocurrency from the wallet.<\/p>

The main types of cryptocurrency wallets are online<\/strong> and offline<\/strong> wallets, they are also called “hot”<\/strong> and “cold”<\/strong> wallets.<\/p>

“Hot” wallets<\/strong> are such software wallets that have a mandatory connection to the Internet, and access to them is carried out through a web browser or mobile application. Hot wallets are custodial and non-custodial.<\/p>

Custodial wallets<\/u><\/em> are usually created automatically when registering an account on the exchange, and the user of such a wallet does not have direct control over his private keys, which carries certain risks of loss or blocking of funds in the account.<\/p>

Non-custodial wallets<\/u><\/em> are more secure because the user independently manages and controls their private keys using special software or a mobile application.<\/p>

Currently, there are many “hot” cryptowallets, but MetaMask <\/em>and Trust Wallet<\/em> are among the most popular and easy to use.<\/p>

“Cold” wallets<\/strong> are hardware wallets that do not require an Internet connection to access the cryptocurrency assets they hold. It is precisely because of the lack of need for network access that such wallets are considered more reliable and protected from hacker attacks. It should be noted that “cold” wallets are also custodial and non-custodial, but the majority of users of such wallets choose non-custodial wallets, since this principle of operation provides the opportunity to fully independently control the wallet and the crypto assets it contains.<\/p>

Today, the most famous “cold” hardware wallets are wallets produced by the companies “Ledger” and “Trezor”<\/em>, which have captured the attention of users due to their ease of use and security.<\/p>

In our opinion, before choosing a cryptocurrency wallet for use, the user should decide on such parameters as:<\/p>

– security<\/strong> – protection against cyber-attacks and crypto-thefts, which are increasingly common in the crypto-industry;<\/p>

– type of wallet<\/strong> – it is necessary to clearly define which wallet is acceptable for use. If you plan to use cryptocurrency for permanent trading on crypto exchanges, it will be more convenient to use hot wallets. If you have planned a long-term investment in crypto, a cold wallet will be safer for storing your assets;<\/p>

– compatibility of cryptocurrencies<\/strong> \u2013 it is important to choose a wallet that will be exactly compatible with the cryptocurrencies you plan to keep on this wallet. Most wallets support many types of currencies in different networks, but there are also wallets that are created to store only one type of currency;<\/p>

– easy to use<\/strong> \u2013 the interface of the crypto wallet software should be convenient and clear to use, which will ensure prompt use of your crypto assets.<\/p>

Recently, along with the growing demand for cryptocurrency, the number of fraudsters who want to “make money” from those who have not fully understood the principles of the crypto industry is also increasing. So far, there have already been several sales of fake “cold” hardware wallets, as well as the distribution of fake software on the network, with the help of which fraudsters gain access to the cryptocurrencies of such inexperienced new users. In order not to become a victim of crypto thieves, we advise you to consult with professionals beforehand.<\/p>

The “VigoLex”<\/strong> team has extensive experience in working with cryptoassets, uses an individual approach to each client, and will provide you with information on the most secure and convenient cryptowallets on a professional basis. We will help you register for using “hot” wallets, as well as purchase and configure “cold” wallets.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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If you have already definitely decided on the need to…<\/p>\n","protected":false},"featured_media":0,"template":"","_links":{"self":[{"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/service\/35591"}],"collection":[{"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/service"}],"about":[{"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/types\/service"}],"version-history":[{"count":5,"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/service\/35591\/revisions"}],"predecessor-version":[{"id":35596,"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/service\/35591\/revisions\/35596"}],"wp:attachment":[{"href":"https:\/\/vigolex.net\/en\/wp-json\/wp\/v2\/media?parent=35591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}