👨💻 How to store and transfer cryptocurrency: important things made simple
Cryptocurrency is not paper money, but code on the blockchain. To manage it, you need a wallet.
Wallets come in:
🟢Cold (offline): hardware wallets (Ledger, Trezor) or computers disconnected from the internet. The safest way to store coins, but inconvenient for frequent transactions.
🟢Hot (online): web wallets, mobile apps (Trust Wallet, MetaMask). Services for quick transactions, but with a higher risk of hacking.
🟢To transfer cryptocurrency, you need the recipient's address (life hack: always double-check the address). You specify the amount, pay the fee, and confirm the transaction.
Important: the private key is your password to the bank in the crypto world. Do not store it online, write it down on paper or in a safe place.
Terms for the concept:
🟢Seed phrase — 12-24 words for wallet recovery.
🟢Public Key — your address.
🟢Private Key — your key to money.
Keep your keys safe, use 2FA, and do not send coins to unknown addresses. Crypto favors the cautious!