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A person who is just getting acquainted with the world of crypto assets should first of all think about how to store the selected coins. This universal knowledge will help to save the deposit and the available profit, regardless of what actions you have performed in the market. And only then proceed to the study of narrower topics.
You can store cryptocurrency both on the exchange's accounts and in personal cryptocurrency wallets.
The exchange is convenient, but not the best option. The number of pairs here is limited, the reliability is not so high. Therefore, most investors choose to store currency in reliable wallets.
They can be divided into:
Also, depending on the nature of the work, you can divide wallets into hot and cold.
The most reliable (and therefore quite expensive) is considered to be a hardware crypto wallet. It is a small device resembling a standard USB flash drive, which has one function - storing cryptocurrency. They are independently connected by the user to the computer. Thus, there is access to crypto assets. These are quite expensive devices that cost over $500. Usually they are bought by large players who understand the specifics of the market.
Desktop/mobile. The most popular option. They are software that performs the role of a wallet. Here you can see the exchange rate, whether you have it, as well as other useful functions. The same can be said about the mobile versions of wallets. With this method of storage, it is important to protect your assets well. Verification, connection of the authenticator will not be superfluous.
A paper wallet is a special QR code that is printed on sheets of paper. By pointing the camera at him, the investor gets access to his assets. It belongs to one of the safest storage methods with quite understandable disadvantages.
Cold wallets are wallets that do not connect to the World Wide Web. Due to the lack of internet access, they are very reliable. Hot ones, on the contrary, can be connected.
Now some may be surprised by the fact that, it turns out, there are wallets designed to store only one cryptocurrency. Although some 5-6 years ago, every crypto enthusiast knew about it. Bitcoin had its own wallets, and ether had its own. They are called Single Wallet and do not have such a spread these days as multicurrency. For most users, the latter are very convenient and therefore popular. You can create such a wallet yourself by writing a script or buy a ready-made solution.
A ready-made solution for a crypto wallet has a number of advantages. For example, you don't need to thoroughly understand the technology itself, you just need to know the interface well. For financial institutions and various crypto companies, the availability of their own service guarantees high reliability and the opportunity to take a completely new look at the procedure for working with crypto assets. After all, it is of paramount importance for the user that the security level is as high as possible and his assets remain intact. You can purchase such a solution from us.
Study of the full terms of reference and problem statement
Coordination of the technology stack and project design
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