It feels great to be fully back to @tron-fan-club community, to join my brothers in learning and participating in the Interesting crypto activities going on here.
I believe everything is fine with everyone in this community and I appreciate the moderators of this community for a job well done.
Today we shall be discussing about crypto wallet as this is what everyone in this community has.
WHAT IS A CRYPTOCURRENCY WALLET
A cryptocurrency wallet can be explained to be a device or program that stores the public and private keys to an account and helps for cryptocurrency transactions.
A cryptocurrency wallet also help for the encryption and decryption of information.
To a layman, a cryptocurrency wallet can be defined to be a program that helps to facilitate cryptocurrency transactions, that Is, it helps in the receiving and sending of cryptocurrency.
KINDS OF DIGITAL CURRENCY WALLET
There are different types of cryptocurrency wallet and we shall examine a few of them now:
- MOBILE WALLET:
A mobile wallet can be explained to be mobile application specifically designed for smart phones .
These wallet has a similar working format as the software wallet and they provide portability and convenience to it's users.
Mobile wallet can be used for financial transaction with a physical store through the use of Near Field Communication [NFC].
A good example of mobile wallet is Trust Wallet and Coinomi.
- SOFTWARE WALLET:
Software wallet can be referred to those wallet that can be installed on computer, tablets and smart phones.
This wallet provide easy and convenient access to cryptocurrency and also aids the transfer of cryptocurrency from one person to another.
This wallet can also be used to check transaction history and sometimes it can be used to exchange cryptocurrencies.
A good example of this wallet includes Electrum, Mycelium, Exodus etc.
- PAPER WALLET:
A paper wallet can be referred to as an hand written document or a physical print out that consist of a user's public and private keys in the form of alphanumeric characters or QR CODES.
Paper wallets are most times generated offline and are not kept online inorder to secure it from online attacks.
However, paper wallet are vulnerable to physical damages from water and other factors and as such, holders ought to take extra precaution to keep them safe.
CONCLUSION
I appreciate you for bringing out time to go through my post.
We have considered few types of crypto wallet although that is not all, as we proceed in our lessons, we shall come to understand other types of crypto wallets
Thank you, friend!
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https://twitter.com/JuecoYoung/status/1665484745633923072?s=20
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Nice to see you posting here in our Community after a long time. Once you were a regular post writer here. Hope you will write regularly here. Thanks.
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Yes, i have come to stay and my goal is to be and remain a regular post writer.
I hope I am welcome and will be supported by the TFC team 😊
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