WALLETS
A cryptocurrency wallet is a software program that allows a user to buy, sell, send, and receive digital assets. Crypto wallets consist of public keys and private keys. The public keys allow a user to receive cryptocurrency and this information is readily available for viewing on the blockchain. A private key provides ownership of funds and must always be guarded carefully and kept secret. There are many different types of wallets and not all are created equal.
The Official Wallet of Crypto Track
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Key Features:
Price $99.99
Cold Wallet
Not Connected to the Internet
Cold Wallets are not connected to the internet. The user's private keys are offline, while the public keys are online.
Difficult to Attack
Cold wallets are extremely difficult to hack or steal crypto because the private keys are offline.
No Government Control
Cold Wallets do not require Know Your Customer "KYC" information and therefore are more difficult to track.
Popular Cold Wallets
Ledger, Trezor and Arculus are three of the most popular cold wallets used by law enforcement to securely store seized cryptocurrency.
Hot Wallet
Connected to the Internet
Applications connected to the internet and the crypto infrastructure that allows a user to access digital resources.
Vulnerable to Attacks
Because they are online, hot wallets are vulnerable to hacks and thefts.
Hosted Exchange Wallets
Exchange wallets maintain access to a user's private keys. Exchange wallets are needed to buy and sell crypto, but caution must be made when storing crypto at an exchange because the exchange controls the private keys.
Self Custody Wallets
Self-custody hot wallets provide users with complete control over their funds as the user maintains the private keys. Common self-custody wallets are Trust Wallet, Metamask, and Exodus.
