{"id":8738,"date":"2022-10-22T12:55:31","date_gmt":"2022-10-22T09:55:31","guid":{"rendered":"https:\/\/crypto-mining.blog\/?p=8738"},"modified":"2022-10-22T12:55:35","modified_gmt":"2022-10-22T09:55:35","slug":"trust-wallet-and-metamask-wallets-where-is-the-best-place-to-store-cryptocurrency","status":"publish","type":"post","link":"https:\/\/crypto-mining.blog\/en\/news\/trust-wallet-and-metamask-wallets-where-is-the-best-place-to-store-cryptocurrency\/","title":{"rendered":"Trust Wallet and Metamask wallets. Where is the best place to store cryptocurrency?"},"content":{"rendered":"
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Every crypto-investor wondered: which wallet to choose for storing cryptocurrency, in order to have convenience and most importantly security. Today we will talk and decide once and for all, which wallet will be suitable for a beginner, is it worth to buy a hardware device or you can just store it on the exchange? I will try to answer these questions.<\/p>\n\n\n\n

Cryptocurrencies, how they work and what is the difference between them<\/h2>\n\n\n\n

Let’s first understand what a cryptocurrency wallet is and why we can trust it with our cryptocurrency?<\/p>\n\n\n\n

A cryptocurrency wallet is usually an application where we send our cryptocurrency for storage. But essentially, a wallet is just a way to store a secret key to access your cryptocurrency. The cryptocurrency itself is stored in a blockchain network.<\/p>\n\n\n\n

There are various keys that provide cryptocurrency transfers, to confirm transactions, etc.<\/p>\n\n\n\n

A public key is essentially the address to which you receive or transfer cryptocurrency. Each wallet has a personal one. Everyone can see it and it is not classified information.<\/p>\n\n\n\n

A private key is a key that is secret information, essentially a password for transactions.<\/p>\n\n\n\n

Secret phrase – if you have already registered a wallet you know that there is a secret phrase that consists of 12-24 words. These words must be written down on a piece of paper and put in a secluded place, which only you know about.<\/p>\n\n\n\n

Above we have listed the main components of a cryptocurrency wallet. And now let’s break down what kind of wallet to choose and not to lose. <\/p>\n\n\n\n

There are two types of wallets: warm and cold. Warm wallets are the most common and free, they are an application. These wallets include Trust Wallet, Metamask, Phantom, etc. Cold wallets – they are also called hardware wallets, the most reliable type of cryptocurrency storage – does not have access to the Internet and has no possibility of being hacked. <\/p>\n\n\n\n

Cold wallets have similarities to a USB flash drive, connected to the PC through a wire. So you can also consider a fingerprint sensor on it, this is created for complete privacy. And there may also be a window for entering a passphrase.<\/p>\n\n\n\n

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A beginner doesn’t need such a wallet right away. An ordinary hot wallet is enough to start with. But when you have large investments in cryptocurrency, you should think about buying a hardware wallet. <\/figcaption><\/figure>\n\n\n\n

Which hot wallet is better<\/h3>\n\n\n\n

Trust Wallet is one of the popular hot cryptocurrency wallets. It has excellent protection, works on the basis of a mobile application. You can download it to your smartphone and the wallet will always be at your fingertips.<\/p>\n\n\n\n