How to Get a Crypto Wallet

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Table of contents

  1. Empty
  2. What Is a Crypto Wallet?
  3. What Is the Purpose of a Crypto Wallet?
  4. How to Get a Crypto Wallet
  5. How to Choose a Crypto Wallet
  6. Conclusion

Empty

{"blocks":[{"key":"7n5v5","text":"Investing money in cryptocurrencies is a complicated business. There are many processes involved, such as mining and trading. Owners of crypto need to look out for hackers and fraudulent third parties too. It’s a matter of security then to consider purchasing or downloading a digitized wallet to store altcoins in. This article’s purpose is to show crypto owners how to get a crypto wallet. Another goal is to explain to altcoin investors the different kinds of crypto wallets out there, so they can choose which one best fits their needs.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":540,"style":"color-rgb(0,0,0)"},{"offset":0,"length":540,"style":"bgcolor-transparent"},{"offset":0,"length":540,"style":"fontsize-11pt"},{"offset":0,"length":540,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

What Is a Crypto Wallet?

{"blocks":[{"key":"997b4","text":"A straightforward definition for a crypto wallet is that it’s a digitized form of real-life wallets, but instead of carrying money bills, crypto wallets are designed to store cryptocurrencies.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":192,"style":"color-rgb(0,0,0)"},{"offset":0,"length":192,"style":"bgcolor-transparent"},{"offset":0,"length":192,"style":"fontsize-11pt"},{"offset":0,"length":192,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"bobp2","text":"Crypto wallets have been around since the first cryptocurrency, Bitcoin, was introduced back in 2009. This fact is why these wallets are often called bitcoin wallets too.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":170,"style":"color-rgb(0,0,0)"},{"offset":0,"length":170,"style":"bgcolor-transparent"},{"offset":0,"length":170,"style":"fontsize-11pt"},{"offset":0,"length":170,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"6brkk","text":"A crypto wallet is also labeled as noncustodial. That’s because its owner holds both the key and the wallet’s contents with no interference from other parties. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":160,"style":"color-rgb(0,0,0)"},{"offset":0,"length":160,"style":"bgcolor-transparent"},{"offset":0,"length":160,"style":"fontsize-11pt"},{"offset":0,"length":160,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

What Is the Purpose of a Crypto Wallet?

{"blocks":[{"key":"cumh8","text":"The basic function of a crypto wallet is to be used by crypto owners to store their coins. There are no minimum amount of altcoins an investor needs to have in order to open a crypto wallet.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":190,"style":"color-rgb(0,0,0)"},{"offset":0,"length":190,"style":"bgcolor-transparent"},{"offset":0,"length":190,"style":"fontsize-11pt"},{"offset":0,"length":190,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"cg50","text":"But that’s not all a crypto wallet can be used for. Bitcoin wallets provide a secure, computerized vault for crypto holders to safe keep their public and private keys. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":168,"style":"color-rgb(0,0,0)"},{"offset":0,"length":168,"style":"bgcolor-transparent"},{"offset":0,"length":168,"style":"fontsize-11pt"},{"offset":0,"length":168,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"3qkuk","text":"Public keys are deeply important for investors as they need them to perform all kinds of financial transactions involving cryptocurrencies. Such business dealings include selling, buying, and trading altcoins.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":209,"style":"color-rgb(0,0,0)"},{"offset":0,"length":209,"style":"bgcolor-transparent"},{"offset":0,"length":209,"style":"fontsize-11pt"},{"offset":0,"length":209,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"9mv4p","text":"Private keys, on the other hand, are what crypto owners use to gain access to their crypto wallets so they can spend their coins. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":130,"style":"color-rgb(0,0,0)"},{"offset":0,"length":130,"style":"bgcolor-transparent"},{"offset":0,"length":130,"style":"fontsize-11pt"},{"offset":0,"length":130,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"76gqd","text":"Another function of the crypto wallet is that it provides its owner with secure, digital signatures. Wallet holders use these signatures to authorize crypto transactions.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":170,"style":"color-rgb(0,0,0)"},{"offset":0,"length":170,"style":"bgcolor-transparent"},{"offset":0,"length":170,"style":"fontsize-11pt"},{"offset":0,"length":170,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

How to Get a Crypto Wallet

{"blocks":[{"key":"99sg2","text":"How cryptocurrency holders get a crypto wallet essentially depends on what kind of wallet they want to use. Choosing a crypto wallet that suits their needs will then rely on how many altcoins they own and how they intend to use them in future transactions.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":256,"style":"color-rgb(0,0,0)"},{"offset":0,"length":256,"style":"bgcolor-transparent"},{"offset":0,"length":256,"style":"fontsize-11pt"},{"offset":0,"length":256,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"f38v9","text":"That said, the process behind getting and setting up a crypto wallet is pretty universal. The only difference is the source.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":124,"style":"color-rgb(0,0,0)"},{"offset":0,"length":124,"style":"bgcolor-transparent"},{"offset":0,"length":124,"style":"fontsize-11pt"},{"offset":0,"length":124,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"4hdek","text":"Once a crypto wallet is installed, its new owner needs to create an account. This typically includes inputting some information about the kind and quantity of their crypto. Then, owners are asked to set up a secure password, otherwise known as a private key.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":258,"style":"color-rgb(0,0,0)"},{"offset":0,"length":258,"style":"bgcolor-transparent"},{"offset":0,"length":258,"style":"fontsize-11pt"},{"offset":0,"length":258,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"5tg0","text":"Crypto investors should guard their wallet’s password and not entrust it to third parties. Additionally, providers of crypto wallets will ask new clients to set up a backup password called a seed or secret phrase.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":213,"style":"color-rgb(0,0,0)"},{"offset":0,"length":213,"style":"bgcolor-transparent"},{"offset":0,"length":213,"style":"fontsize-11pt"},{"offset":0,"length":213,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"dg89s","text":"These seed phrases are a collection of words that make up around 12 to 24 codes. They’re used only when the original private key is lost. They function as safety nets and should be safe kept because if lost, the crypto wallet will self-destruct along with the coins in it.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":272,"style":"color-rgb(0,0,0)"},{"offset":0,"length":272,"style":"bgcolor-transparent"},{"offset":0,"length":272,"style":"fontsize-11pt"},{"offset":0,"length":272,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"9uevq","text":"On the bright side though, some crypto wallets come with extra security features besides those mentioned above. Those may include encryption and two-factor authentication.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":171,"style":"color-rgb(0,0,0)"},{"offset":0,"length":171,"style":"bgcolor-transparent"},{"offset":0,"length":171,"style":"fontsize-11pt"},{"offset":0,"length":171,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

How to Choose a Crypto Wallet

{"blocks":[{"key":"c9dr3","text":"Creators of bitcoin wallets provide crypto holders with a wide range of wallets to choose from. Each crypto wallet differs from the other in terms of convenience, performance, and security.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":189,"style":"color-rgb(0,0,0)"},{"offset":0,"length":189,"style":"bgcolor-transparent"},{"offset":0,"length":189,"style":"fontsize-11pt"},{"offset":0,"length":189,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"13pdh","text":"Keeping that in mind, here are the two main types of crypto wallets that are currently available in the market:","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":111,"style":"color-rgb(0,0,0)"},{"offset":0,"length":111,"style":"bgcolor-transparent"},{"offset":0,"length":111,"style":"fontsize-11pt"},{"offset":0,"length":111,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"494st","text":"Hot Crypto Wallets","type":"header-three","depth":0,"inlineStyleRanges":[{"offset":0,"length":18,"style":"color-rgb(67,67,67)"},{"offset":0,"length":18,"style":"bgcolor-transparent"},{"offset":0,"length":18,"style":"fontsize-14pt"},{"offset":0,"length":18,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"9v3g","text":"Digital wallets that are labeled hot are those that exist only online and need an internet connection for owners to access them.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":128,"style":"color-rgb(0,0,0)"},{"offset":0,"length":128,"style":"bgcolor-transparent"},{"offset":0,"length":128,"style":"fontsize-11pt"},{"offset":0,"length":128,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"a257f","text":"Hot crypto wallets are convenient for people who don’t deal with large sums of crypto or aren’t constantly dealing with their coins. An added bonus? These wallets are free of charge.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":182,"style":"color-rgb(0,0,0)"},{"offset":0,"length":182,"style":"bgcolor-transparent"},{"offset":0,"length":182,"style":"fontsize-11pt"},{"offset":0,"length":182,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"28klb","text":"They do pose a security risk though since all crypto will be stored on the internet. In other words, a hot crypto wallet is quite susceptible to being hacked and stolen.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":169,"style":"color-rgb(0,0,0)"},{"offset":0,"length":169,"style":"bgcolor-transparent"},{"offset":0,"length":169,"style":"fontsize-11pt"},{"offset":0,"length":169,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"1j3ud","text":"That said, there are two present types of hot digital wallets and they are:","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":75,"style":"color-rgb(0,0,0)"},{"offset":0,"length":75,"style":"bgcolor-transparent"},{"offset":0,"length":75,"style":"fontsize-11pt"},{"offset":0,"length":75,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"3c6co","text":"Desktop Crypto Wallets","type":"header-four","depth":0,"inlineStyleRanges":[{"offset":0,"length":22,"style":"color-rgb(102,102,102)"},{"offset":0,"length":22,"style":"bgcolor-transparent"},{"offset":0,"length":22,"style":"fontsize-12pt"},{"offset":0,"length":22,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"dgp0","text":"Desktop wallets work from the owner’s laptop or Mac and store their coins on the computer. Third parties aren't able to freeze or control a desktop crypto wallet because the holder has complete autonomy over their funds.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":220,"style":"color-rgb(0,0,0)"},{"offset":0,"length":220,"style":"bgcolor-transparent"},{"offset":0,"length":220,"style":"fontsize-11pt"},{"offset":0,"length":220,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"2decc","text":"With desktop crypto wallets, owners should check their computers for malware. Otherwise, they risk losing their digital cash.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":125,"style":"color-rgb(0,0,0)"},{"offset":0,"length":125,"style":"bgcolor-transparent"},{"offset":0,"length":125,"style":"fontsize-11pt"},{"offset":0,"length":125,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"cnqmh","text":"Mobile Crypto Wallets","type":"header-four","depth":0,"inlineStyleRanges":[{"offset":0,"length":21,"style":"color-rgb(102,102,102)"},{"offset":0,"length":21,"style":"bgcolor-transparent"},{"offset":0,"length":21,"style":"fontsize-12pt"},{"offset":0,"length":21,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"9q2f8","text":"Mobile crypto wallets are portable and can be downloaded for either IOS or Android systems. They can be useful in paying for daily purchases with a quick scan of a QR code.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":172,"style":"color-rgb(0,0,0)"},{"offset":0,"length":172,"style":"bgcolor-transparent"},{"offset":0,"length":172,"style":"fontsize-11pt"},{"offset":0,"length":172,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"cqhcp","text":"Holders of mobile wallets should continuously back up their information and crypto. This way they keep their money safe from hackers and online thieves. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":154,"style":"color-rgb(0,0,0)"},{"offset":0,"length":154,"style":"bgcolor-transparent"},{"offset":0,"length":154,"style":"fontsize-11pt"},{"offset":0,"length":154,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"1jjqi","text":"Cold Crypto Wallets","type":"header-three","depth":0,"inlineStyleRanges":[{"offset":0,"length":19,"style":"color-rgb(67,67,67)"},{"offset":0,"length":19,"style":"bgcolor-transparent"},{"offset":0,"length":19,"style":"fontsize-14pt"},{"offset":0,"length":19,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"e1ghi","text":"As opposed to hot crypto wallets, cold digital wallets are purchased from hardware stores. They typically cost around 100 dollars, if not slightly more.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":152,"style":"color-rgb(0,0,0)"},{"offset":0,"length":152,"style":"bgcolor-transparent"},{"offset":0,"length":152,"style":"fontsize-11pt"},{"offset":0,"length":152,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"3e7gj","text":"Cold crypto wallets are sold as portable devices, such as USB drives. Owners can download all their cryptocurrencies on these wallets and carry them around.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":156,"style":"color-rgb(0,0,0)"},{"offset":0,"length":156,"style":"bgcolor-transparent"},{"offset":0,"length":156,"style":"fontsize-11pt"},{"offset":0,"length":156,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"28uah","text":"Because cold crypto wallets function offline and don’t need an active internet connection, they’re considered more secure than hot wallets. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":140,"style":"color-rgb(0,0,0)"},{"offset":0,"length":140,"style":"bgcolor-transparent"},{"offset":0,"length":140,"style":"fontsize-11pt"},{"offset":0,"length":140,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"c70s5","text":"This makes a cold digital wallet more convenient for investors who daily access their crypto for transactions and business deals. However, if misplaced, there’s no plan B to regain your lost coins. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":198,"style":"color-rgb(0,0,0)"},{"offset":0,"length":198,"style":"bgcolor-transparent"},{"offset":0,"length":198,"style":"fontsize-11pt"},{"offset":0,"length":198,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

Conclusion

{"blocks":[{"key":"dcrr0","text":"The above article’s primary aim was to clarify how to get a crypto wallet. Investors should purchase or download a crypto wallet even if they don’t own many digitized coins. Crypto wallets are a secure way to store, trade, and carry out different transactions through crypto exchanges. Since there are many kinds of crypto wallets, financial advisors recommend choosing one that’ll accommodate how much money you work with. Also, what kind of investments you’re interested in.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":476,"style":"color-rgb(0,0,0)"},{"offset":0,"length":476,"style":"bgcolor-transparent"},{"offset":0,"length":476,"style":"fontsize-11pt"},{"offset":0,"length":476,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}