Steemit Crypto Academy Homework: Blockchain Wallet- Chapter 3 | by @sapwood

Good day everyone, I hope your days are going well, it another brand new day, we thank Almighty God for the gift of life.
Let begin the homework task for today.

Today I will be covering this topic:

1. Types of Blockchain Wallets

2. The type of Wallets I Use

3. The Most Secure Blockchain Wallet

4. Important points to consider when dealing with centralized and decentralized wallet

5. Give An Example Of A Web 3.0 Wallet And What Are The Distinct Uses Of A Web 3.0 Wallet? Have You Ever Used Any Web 3.0 Crypto Wallet? Examples?

6. The Web 3.0 wallet That I Use

Types of Blockchain Wallets

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The crypto academy lectcure for week 3 by @sapwood.
We have different types of blockchain wallet, but before that let me explain the meaning of block chain wallet.
Well a blockchain wallet is a crypto wallet which are use for storing or keeping crypto assets.
This wallet are also use by exchange, they don't only use it to store crypto assets, they also allow the users to buy andd sell cryptocurrencies.

The type of Wallets I Use

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Yeah, as you all know that there are different types of blockchain wallet, but the one I use is the software wallet, and this bring us to this question "What is software wallet"

Software wallet is a type of blockchain wallet which allow users to have access to their keys, the software wallet are mainly online wallet. It allow the users to backup their keys also. The wallet could be either web or desktop

Example: Klever App, Tronwallet and so on

The Most Secure Blockchain Wallet?

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Good question!
With the lecture from professor @sapwood and some researches I made, the hardware wallet is most secured blockchain wallet.

Hardware wallet: The hardware wallet are type of blockchain wallet that uses devices that looks like a hard drive or pen drive in storing crypto assets, the hardware wallet generates their keys randomly, this wallet allow users to have access to their crypto assets easily when they connect them to the computer.
The hardware wallet is usually offline and this reduce the risk of exposing the user's keys to hacker making it the most secured wallet used for storing crypto assets.

Example: Trezor, Ledger, Nano X and so on.

Important points to consider when dealing with centralized and decentralized wallet.

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Let me start first be explaing a centralized wallet and a Decentralized wallet.

Centralized wallet

Centralized wallet are type of wallet that are used by exchange like Binance, Hobit and so on, this wallet allow thr user to store their crypto assets, it also gives them access to trading their crypto assets on the exchange platform. But it doesn't give the users access to their keys, they can only store, buy and sell their crypto assets. Centralized wallet are also known as "Exchange wallet".

A users can create an account on Centralized wallet using an email address, password the user can set a multi-factor authentication to strenghten the security of the wallet.
A multi-factor Authentication like Email Authentication, Two Factor Authentication, SMS Authentication and so on.

Examples: Binance, Houbi and so on

Decentralized wallets

A decentralized wallet is a type of wallet that allow their users to have access to his/her account's keys. Decentralized wallet is the best for storing crypto assets. Because of the high security.

Someone that want to securely store his/her crypto assets is advice to use a Decentralized wallet.

A Decentalized wallet is also known as "Crypto wallet"

Example: Trust wallet

Give An Example Of A Web 3.0 Wallet And What Are The Distinct Uses Of A Web 3.0 Wallet? Have You Ever Used Any Web 3.0 Crypto Wallet? Examples?

What is Web 3.0 wallet:

Like we are the new age, the Web 3.0 wallet are the new age wallet or let me say they are the modernised wallet, the web 3.0 wallet are very compatible, they operate through smart contracts, this type of wallet usaully interact with specail dApps which serve as browsers to go explore the world of blockchain

Example: TronLink, Multichain wallets and so on.

The Web 3.0 wallet I Use

The web 3.0 wallet that I make use of is the Tronlink pro, this wallet allow me interact with some dApps like JustSwap, Justlend. I can stake my crypto assets to earn another token.

For example in my Tronlink pro wallet, I interact with Justlend, I lend my Tron Token to earn SUN token.

Below is the screenshot of

Conclusion

The lecture as been a great one, I have learnt some new things about the blockchain wallets.

I really appreciate @sapwood for this wonderful lecture, I also thank the @steemitblog for this wonder innovation.

Special mention:

Cc: @steemcurator01

Cc: @steemcurator02