Choosing a cryptocurrency wallet is the first and most important step on the path to securely storing your assets. A wallet is not a place where your coins are stored, but a key that gives you access to them on the blockchain.
Main types of wallets
1. 'Hot' wallets (Hot Wallets)
What it is: Wallets that are always connected to the internet. For example, apps on your phone (Trust Wallet) or wallets on exchanges.
Pros: Convenient for quick transactions and trading.
Cons: Less secure, as they are always online. Not suitable for storing large amounts.
2. 'Cold' wallets (Cold Wallets)
What it is: Wallets that are not connected to the internet. These are hardware wallets (Ledger, Trezor) or paper wallets.
Pros: Maximum security, ideal for long-term storage.
Cons: Less convenient for frequent transactions, require purchasing a device.
Three golden security rules
Never share your seed phrase. It is your main password that gives access to all your funds. No one, under any circumstances, should ever know it.
Use 2FA (two-factor authentication). This is an additional layer of protection for all your accounts.
Beware of phishing. Always check the links you click on. Scammers often create fake websites to steal your data.
In summary: The choice depends on your goals. For everyday transactions, a 'hot' wallet is suitable, for long-term storage — only a 'cold' wallet.