Once you’re investing or using cryptocurrencies, you’ll get wallets where you can both store and access them. Actually, there are various types of Cryptocurrency wallets now available for users including mobile wallets, online wallets, and desktop wallets. The differences of these crypto wallets include where the data are stored, security, and accessibility. Knowing these types of crypto wallets will help you decide the best wallet for your currencies, let’s have a look at them.
Desktop Wallets
This type of wallet requires you to download and install the software to your desktop. You can then store your currencies through this desktop wallets. Since it’s installed in a particular desktop, you can’t access it in other devices or computers. Well, that’s the obvious limitations of desktop wallets but in other hands, it provides the most secure access into your currencies. The only security issues are possible when you the installed computer is infected by virus or malware or somebody hack into it. As long as you activate the firewall and update your internet security, there should be no problems on your desktop wallets.
Online Wallets
It’s the cloud-based services work as a wallet for your cryptocurrency. As the wallet is run on the cloud, you can access it from anywhere as long as you get a computer device and a stable internet connection. Despite the convenience, online wallets actually have some issues on privacy and security. Even though you can have your own passwords, they’re still visible and managed by other parties. At this point, online wallet even though has some accessibility advantages, you need to consider the risks of being exposed to hacking. It’s suggested to check the reviews of the former wallet users before picking an online wallet service.
Mobile Wallets
It’s the mobile version of online wallet and comes with an actual mobile app which can be downloaded and installed to your smartphones, tablet, and other compatible mobile devices. It allows you to access your currencies anywhere and anytime without any desktops needed. It’s now being the most popular wallets among the cryptocurrency users due to its practical and mobile elements. The growing mobile internet has encouraged more people to use mobile wallet compared to desktop or online wallets. If you’re a mobile person and using cryptocurrency, then mobile wallet could be your best friend.