Mobile wallet – these are apps which you install on a mobile device and can often be used to make mobile payments where cryptocurrency is accepted. Most mobile wallets are provided by exchanges and online wallet companies to make accessing their services easier on the move.
Hardware wallet – these dedicated devices are often similar to USB keys, they store your private keys and can be kept with you. There is of course a risk of misplacing a hardware wallet or having them stolen, which is why some investors store them in safety deposit boxes.
Paper wallets – a private key is simply a code which is used to decrypt data, therefore it is entirely possible to print it and keep it in a file (or more sensibly, a safe). Copies can be kept at other locations to protect against fire and other risks.
Just a word of warning, without your private keys, you will have no access to your crypto – it is important that you keep control of them and protect against data corruption, hacking and losing them. It is always a good idea to keep a hard copy of your keys in a safe place at a different location, so that even if a fire destroys your computer and backups at your home, you still have another backup elsewhere.
The most important piece of advice I can give mobile database you is this: never let someone else have control of your digital wallet. When someone else has access to your private keys, you give up control of your security. If you are storing your Bitcoin with an exchange or in the cloud, it is possible they could be hacked, shut down or in some cases, refuse to give you access to your own money. It has happened in the past, and it will likely happen again – by keeping control of your own crypto wallet you reduce the risk of losing your crypto.
Once you have your own digital wallet, you can buy and sell crypto. Buying and selling is usually done through an exchange where you can link to your bank account or purchase using a credit card.
To buy and sell, you will need to register with your preferred exchange – here are a few of the bigger exchanges:
Coinbase
CEX
- Board index
- All times are UTC
- Delete cookies
- Contact us