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Digital Wallets Made Simple
Manage episode 321204450 series 3318552
The beauty of crypto and NFTs is they don't require bank accounts. So if this is the case, where do you save your assets? In a digital wallet.
A digital wallet is an app that allows cryptocurrency holders to store and retrieve their digital assets. When a user acquires cryptocurrency (or NFT), you store it in a wallet. You then can make transactions, such as the purchasing a NFT.
There are Hot and Cold wallets. Both with pros and cons.
A hot wallet lives online and makes it easier to transact with others, but it is less secure. A cold wallet lives offline (similar to a USB drive), which makes it more secure, but more difficult to transfer to others.
Regardless, in order to transact with a blockchain, you'll need to understand some basic wallet concepts. That's what this episode is all about!
Topics:
➡️ What is a cryptocurrency wallet?
➡️ Do you need one and why?
➡️ Is my cryptocurrency safer in a wallet then not?
➡️ What is the difference between a hot and cold wallet?
➡️ If I move my Cryptocurrency to a wallet, what's the cost?
➡️ How do I connect my wallet to an NFT marketplace?
Get your FREE NFT Cheat sheet
👉 www.nftsmadesimple.com 👈
This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!
47 episodes
Manage episode 321204450 series 3318552
The beauty of crypto and NFTs is they don't require bank accounts. So if this is the case, where do you save your assets? In a digital wallet.
A digital wallet is an app that allows cryptocurrency holders to store and retrieve their digital assets. When a user acquires cryptocurrency (or NFT), you store it in a wallet. You then can make transactions, such as the purchasing a NFT.
There are Hot and Cold wallets. Both with pros and cons.
A hot wallet lives online and makes it easier to transact with others, but it is less secure. A cold wallet lives offline (similar to a USB drive), which makes it more secure, but more difficult to transfer to others.
Regardless, in order to transact with a blockchain, you'll need to understand some basic wallet concepts. That's what this episode is all about!
Topics:
➡️ What is a cryptocurrency wallet?
➡️ Do you need one and why?
➡️ Is my cryptocurrency safer in a wallet then not?
➡️ What is the difference between a hot and cold wallet?
➡️ If I move my Cryptocurrency to a wallet, what's the cost?
➡️ How do I connect my wallet to an NFT marketplace?
Get your FREE NFT Cheat sheet
👉 www.nftsmadesimple.com 👈
This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!
47 episodes
All episodes
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