A wallet (or digital wallet) is where you store your cryptocurrencies, like your wallet, but in digital form. Without a wallet, you cannot send, receive, or store your crypto.
There are two main types:
1. Hot wallet:
It is connected to the internet, making it more convenient for daily use and quick transactions. However, being online also makes it more vulnerable to attacks and hacks.
2. Cold wallet:
It is not connected to the internet, making it much safer for storing large amounts in the long term. It is usually used in the form of physical devices (hardware wallets).
How to choose your wallet?
If you are a novice and want to make frequent transactions, a hot wallet is suitable for you.
If you seek security for storing large sums, invest in a cold wallet.
Always keep your private keys and seed phrases in a safe place and never share them.
Having a secure wallet is the foundation for managing your cryptocurrencies well and protecting your digital money.