โWhat is a wallet (crypto wallet)?โ
When you buy cryptocurrencies, you donโt keep them in your pocket; you store them in something called a wallet or digital wallet.
Here I explain what it is and why it matters:
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๐ Types of wallets:
1๏ธโฃ Exchange wallet (like Binance)
๐ป This is where most people start. Your cryptos are in your Binance account. Itโs convenient, but it depends on the security of the exchange.
2๏ธโฃ Non-custodial wallet (like Trust Wallet or MetaMask)
๐ You have total control. No one else can access it, but if you lose your key, you lose everything.
3๏ธโฃ Cold Wallet (like Ledger or Trezor)
๐ง It is a physical wallet, not connected to the internet. Ideal for storing large amounts long-term.
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๐ก Which one to use first?
Start with the Binance wallet while you learn. Then you can explore other options.
๐ Remember:
โIf itโs not your keys, itโs not your cryptos.โ
When you control the private key, you are the real owner.
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