What is a Crypto Wallet?
A crypto wallet doesn't actually store your coins. Instead, it stores the private keys that give you access to your coins on the blockchain.
Types of Wallets
- Hot Wallets: Connected to the internet (e.g., MetaMask, Trust Wallet). Convenient for trading but less secure.
- Cold Wallets: Offline storage (e.g., Ledger, Trezor). The most secure option for long-term storage.
Custodial vs. Non-Custodial
Custodial wallets are hosted by a third party (like an exchange) that holds your keys. Non-custodial wallets give you full control over your keys and your funds.
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