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There are a lot of bitcoin investors and crypto experts who advocate for the use of cold wallets because of their security features.
As we discussed in our previous blog, looking into hot versus cold wallets, digital assets are deemed more secure in cold storage because they are not connected to the Internet. Once your devices like computers and smartphones have become exposed to the Internet, they can be at risk for malware, viruses, and hacking attempts.
With cold wallets, you need a physical medium to store bitcoin and altcoins. …
If you are serious about having a profitable venture in altcoin and bitcoin trading, it is not enough to know which is the best crypto trading platform. You also have to be aware of the types of hot crypto wallets so you can safely keep your digital assets.
In this article, we will explore the types of software wallets.
Software Crypto Wallets
Software wallets can be categorized under hot storage options. Since most software crypto wallets are connected to the internet, then they can also be considered as hot wallets.
But know that software wallets come in different forms —…
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In the process of learning how to invest in Bitcoin or how to trade altcoins, you will encounter the term “cryptocurrency wallet.” Although you cannot physically hold digital currencies in the same way as you hold traditional money, you will still need to have any of the following: paper, mobile, web, or desktop wallet for altcoins and Bitcoin so that you can adequately secure, manage, and keep your digital assets.
Cryptocurrency wallets are mere tools that you can use so that you…
How to Find the Best Crypto Wallet for You: Hot or Cold Storage
Once you have learned how to start crypto trading or have been positive about investing in cryptocurrency, then you have to decide which altcoin or bitcoin wallet is best for you.
Crypto wallets can fall into two categories according to the way that they operate — hot storage or cold storage.
Hot Crypto Wallets
Hot crypto wallets are connected to the internet. Most of these hot wallets are in the form of software and applications. …
If we already have traditional money like the fiat that we know today, why do we still need to look for other stores of value and means of exchange? Why use cryptocurrency?
For those who are confident enough of the traditional financial institutions, they doubt the effectiveness, stability, and reliability of cryptocurrencies. Most of them would question if there is such a thing as a legitimate cryptocurrency value. They hardly accept the possibility of the independent ownership of financial resources without the centralized authority of banks.
Although there are people who are against the use of digital currencies, there are…
Most people think that professional crypto traders have everything perfectly going on in their trading venture. Because of this notion, pro traders are regarded as immune to stress, tiredness, and other real-life problems associated with the challenging nature of crypto buy and sell.
Despite being experienced in the use of advanced cryptocurrency tools and being masters of market observations, professional crypto traders still suffer from substantial life problems such as the following:
Newcomers in the crypto world are wondering, “Why do we need to use a crypto trading app for multiple exchanges?; when we can trade directly using our cryptocurrency exchange accounts.” Multi-exchange crypto trading platforms are not competitors of crypto exchanges. Instead, they complement each other to provide the best experience for digital currency investors and traders.
So why use crypto trading platforms for multiple crypto exchanges?
You have ever asked yourself why people decide to open accounts in different exchanges? Why is there a need for crypto trading on Binance when you can already trade altcoins on Bittrex?
Since the inception of Bitcoin and blockchain technology more than ten years ago, the public has gradually grown their curiosity and increased their interest in the topic. Many have asked, what are cryptocurrencies? Are cryptos like cash?
According to Binance Academy’s cryptocurrency for beginners, “A cryptocurrency is a form of digital cash that enables individuals to transmit value in a digital setting.” We have also discussed in previous posts the definition of cryptocurrency — a digital currency or virtual currency that is secured by cryptography. Cryptocurrencies basically encompass a wide range of digital money systems that rely on cryptography.
Why is the internet full of cryptocurrency trading tutorials on how to earn Bitcoin or earn altcoins?
First, millions of people are now interested in crypto trading tips and tricks, mainly because of the potentials for wealth generation of altcoin and Bitcoin investment.
Second, there are multiple ways by which you can experience cryptocurrency growth, as proven by the most successful crypto traders of this generation.
If you watch cryptocurrency trading videos on YouTube, you will notice that different traders recommend a variety of crypto trading techniques and strategies. This only means that there is no definite answer as to…