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• What types of wallets are there?

• Are Cryptocurrency wallets easy to use?

• Which wallet could be best for me?

• What is a Public Key?

• What is a Private Key?

• Are Crypto wallets free?

*Basics: What Type of Cryptocurrency Wallets Exist

Wallets & The Keys

There is an abundance of online, software & hardware wallets you could use but it’s important to consider the functionality of each type!

All Cryptocurrency wallets provide you with a public and private key.

The public key is your “address” that you give out for transactions.

BTC Public Key Example: 1A00t7KjNd2SYMai1GRQjNTPhuT77KpaSs

The private key is an encrypted sequence of characters designed for accessing your Cryptocurrency and also may be required before sending Cryptocurrency to another user. You must keep this to yourself!

Cryptocurrency Backup

Write down your wallet’s unique 12-word phrase in the exact order it is displayed.

Example: Elephant Parachute Truck White Green Popular

Musician Trampoline Leaf Dancer Love Trading

The backup phrase cannot be recovered & the funds attached will be gone too!

Keep in mind public Cryptocurrency addresses are not cross-compatible with other assets.

Hardware Wallets

Hardware wallets such as KeepKey, the Nanoledger, and Trezor emphasize a simple user interface and offer the highest level of security due to how Cryptocurrency is accessed.

• Referred to as “cold storage” because private keys are securely stored offline on the wallet

• Cryptocurrency is still on the blockchain and requires USB + password authentication to access

• Price will vary depending on compatibility, ease of use, and style

• A Backup ‘master phrase’ is provided

Software Wallet Exodus

• Allows you to hold, send and swap Cryptocurrency

• Charts to track real-time market conditions

• Secure encryption and control of your private keys

• Customizable interface

• Free to use

• Offers “recovery” features(i.e. Sent ETC to ETH address)

• Bi-weekly updates

• Offer an advanced version “Eden” with more features & assets

*exodus  (See video: Configuring Exodus Wallet)

Software Wallet Jaxx

• Allows you to hold, send and swap Cryptocurrency

• Secure encryption and control of your private keys

• Customizable interface

• Easy to setup

• Compatible with many devices and operating systems

• Free to use

*Jaxx (see video: Configuring Jaxx Wallet)

Online/Mobile Wallets

• Compatible with the web and accessible online

• Can process transactions using a mobile phone camera

• Most software wallets also offer online/mobile accessibility

• Typically free but less secure because anything online can be hacked

• Two-Factor Authentication as additional security

• This is what you will use when trading on an exchange

*bitpay

*cryptopia

In Summary: Wallets are flexible and will continue to be upon as more investors participate in the Cryptocurrency space, the most important things to consider are cost, security, mobility, user-friendliness, convenience, and style.