What is crypto wallet and mention its types

Cryptocurrency Wallet is nothing but a software codings used to store,send and receive cryptocurrency. Crypto wallet is a place that stores private and public keys safely and allows you to interact with various blockchain network which enables users to send and receive virtual currency.

Here are the different types of crypto wallet available.

1. Software Wallet
2. Hardware Wallet
3. Paper Wallet

Software Wallet

Software wallet can again be divided into
1. Desktop Wallet
2. Mobile Wallet
3. Online Wallet

Desktop Wallet

Desktop wallet is one which is downloaded and installed on desktop or laptop. It can be only accessed in the system in which it is downloaded. Desktop Wallet also offers high end security until the system is hacked .When the system gets a virus there is the possibility that you may lose your
crypto assets.

Mobile Wallet

Mobile wallet is an app that runs on mobile phone , which is more useful that they can be used anytime anywhere. Mobile wallets are usually much smaller and simple as only limited space is available on the mobile.

Online Wallet

Online Wallet runs on cloud storage and is accessible from any device conveniently. Online Wallet stores private and public key online which is controlled by third party. This makes it more harmful and easily available for hackings and theft.

Hardware Wallet

Hardware Wallet is more different from Software wallet in the way that they store a user’s private and public key on the hardware devces like USB. Even hardware wallet do transaction online, they store cryptos offline which is highly secured.

Paper Wallet

Paper wallet is one which provides high level of security to store cryptocurrency. This refer to a physical copy or printout of the public and private keys. Paper wallet can be piece of software that is used to securely generate a pair of keys which are then printed.

To develop your own crypto wallet , contact Bitdeal - Cryptocurrency Wallet Development Company, which offers complete crypto wallet development services all over the world.