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

Introduction

Hello everyone, I hope you are all doing great, it is a great pleasure to complete my homework task for the crypto academy week 3 by @sapwood.

The sub-topic for today:

• Types of Blockchain Wallets

• The type of Wallets I Use

• The Most Secure Blockchain Wallet

• Important points to consider when dealing with centralized and decentralized 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?

• The Web 3.0 wallet That I Use

Types of Blockchain Wallets

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A blockchain wallet is a cryptocurrency wallet thaat is use for storing crypto assets, it can also use by some exchange that allow users to store, buy and sell crypto assets.

The two type of blockchain wallet are:

1. Custodian wallets: This blockchain wallet allow users to store, transfer, buy and sell crypto assets. This type of wallet are fully operated by exchanges it doesn't all users to have access to their keys.
   They are use by exhanges like Binance, Houbi and so on

2. Self-custodian: Self-custodian wallet is a blockchain that gives users full access to the keys of the wallet, this type of wallet are use for storing or kepping crypto assets.
   This blockchain wallet can either be an online or offline wallet,

The type of Wallets I Use

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There are differnt types of blockchain wallet, but the one that I make use of is the a "Software wallet"

A software wallet: A software wallet are wallets that allow users to backup their keys offline this is because they have their keys online. A software operates online, they could be either on web or desktop

Example of a software wallets are:

• TronLink Pro

• Klever App and so on.

The Most Secure Blockchain Wallet?

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This is literally a good question, well as you all know there are different types of blockchain wallet. But in term of securing assets. The hardware wallet is the most secured blockchain wallet.

Hardware wallet: The hardware wallet are wallet that uses devices that looks like a hard drive for storing crypto assets, this type of wallet generates their keys randomly, they futher allow users to have access to their crypto assets easily when they connect them to the computer.
This type of wallet is the most secured wallet used for storing assets as it is usually offlinr, it automatically the risk of exposing the user's keys to potential hackers.

Example of hardware wallet

• Ledger

• Nano X

• Trezor and so on.

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

Centralized wallet: Centralized wallet are also known as "exchange wallet", this type of wallet are used by exchages like Binance, , this type of wallet allow the users to have access to hi/her keys. The users can create an account using an email address, password the user can set a multi-factor authentication like

• Email Authentication

• Two Factor Authentication

• SMS Authentication and so on.

A Centralized wallets will offer users the privilege to buy or sell their crpto assets, they can also withdraw and send their crypto assets with ease.
A user that want to trader his/her crypto is advice to use a centralized wallet.

Example of centralized wallet are

• Binance Exchange

• Houbi Exhange

Decentralized wallets: A Decentalized wallet is also known as "crypto wallet", this type of wallet allow users to have access to his/her account's keys. This wallet is use for storing crypto it allow users to have access to their account's key. This type of wallet is the best for storing crypto assets. Because of the high security.

A user that want to securely store is crypto is advice to use a Decentralized wallet.

Example of Decentralized 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:

Web 3.0 wallet are the new modern wallet, this type of wallet are compatible, this type of wallet operate through smart contracts, they usaully interact with specail dApps which serve as browsers to go through or betterstill to navigate the world of blockchain

Example of a web 3.0 wallet

• TronLink

• Multichain wallets and so on.

The Web 3.0 wallet I Use

Like I stated earlier that a web 3.0 wallet are the new age wallet, there are different types but the one have used and am using is the Tron link wallet, this type of web 3.0 wallet as a feature of a web browser and this allow me to interact with other dApps like Justlend, JustSwap and so on

Below is the screenshot of the dApps on my Tron link wallet

Conclusion

Thank you @sapwood for this wonderful lecture.

Special mention:

Cc: @steemcurator01

Cc: @steemcurator02