āWhat is a wallet (crypto wallet)?ā
When you buy cryptocurrencies, you donāt 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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š Types of wallets:
1ļøā£ Exchange wallet (like Binance)
š» This is where most people start. Your cryptos are in your Binance account. Itās convenient, but it depends on the security of the exchange.
2ļøā£ Non-custodial wallet (like Trust Wallet or MetaMask)
š You have total control. No one else can access it, but if you lose your key, you lose everything.
3ļøā£ Cold Wallet (like Ledger or Trezor)
š§ It is a physical wallet, not connected to the internet. Ideal for storing large amounts long-term.
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š” Which one to use first?
Start with the Binance wallet while you learn. Then you can explore other options.
š Remember:
āIf itās not your keys, itās not your cryptos.ā
When you control the private key, you are the real owner.
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