Cryptocurrency is not just a trendy word but a fundamental tool. For some, it is an investment; for others, it is a way to transfer money and even a salary. But as soon as digital coins appear at your disposal, a key question arises: where to store all this stuff?
Losing access to crypto means losing money. That is why choosing a wallet is not a formality but a serious decision, especially regarding security. A striking example is the non-custodial cryptocurrency wallet from IronWallet. An industrial wallet does not store your keys but gives all control to the user.
Main Types of Crypto Wallets
To avoid confusion in the choice, it will be helpful for you to know what types of storage there are. Here is a short list:
- hardware — a physical device for storage;
- mobile — an application for a smartphone;
- desktop — installed on a computer;
- web wallet — works through a browser;
- paper — a printed private wallet;
- multicurrency — supports several currencies;
- multicurrency — requires confirmation of several keys.
All these types serve different purposes. Desktop solutions are convenient for those who work at a computer, and multicurrency wallets are ideal if you have a portfolio of other assets. Multisig will be an excellent choice for team access or a corporate account.
Some wallets can combine several types. For example, they can be mobile and multicurrency at the same time. It all depends on your goals and preferences.
Hardware Wallets: Maximum Security
«Hardware crypto wallet» refers to a physical device resembling a flash drive. Its main advantage is complete isolation from the Internet. Until you connect the device to your computer, attackers will not be able to get to your funds.
This storage method suits those who keep large sums and rarely make transactions. Hardware wallets are resistant to viruses and phishing, but they can be lost or damaged. The main thing is not to lose the seed phrase, which gives access to recovery.
You should also remember that a high-quality hardware wallet costs money. However, this investment pays off, primarily if you work with significant assets.
Mobile Wallets: Convenient and Fast
Mobile applications for storing cryptocurrency are one of the most popular options. They are always at hand, work quickly, and suit everyday transactions. IronWallet, by the way, works in this format. It allows you to send and receive cryptocurrency without intermediaries instantly.
The main advantage of mobile wallets is convenience. Among the disadvantages, one can highlight the dependence on the phone. You can lose access to funds if the device is stolen and you have not set up protection. Therefore, using two-factor authentication and a reliable PIN code is essential.
A good mobile storage must be simple, secure, and support current cryptocurrencies. You should also check if the application has open-source code and reviews in official stores.
Hot and Cold Wallets: What’s the Difference?
All cryptocurrency wallets can be roughly divided into hot and cold. The first option is those connected to the Internet, including mobile, web, and desktop versions. Cold wallets include hardware devices or paper versions. They do not have constant access to the network.
Hot wallets are convenient for individuals but more vulnerable. Cold wallets are almost invulnerable but less practical for everyday use. Often, experienced users combine both types: hot for small amounts and expenses and freezing for storing capital.
This approach allows you to balance between convenience and security. You need to distribute funds and not keep «online» more than you are willing to lose in the event of a hack.
Conclusion
A crypto wallet is not just a storage place. It is safe. Which safe to choose depends on how often you use the card, for what amounts, and how important autonomy is to you.
Non-custodial solutions like IronWallet gives you complete freedom and control, increasing your assets’ security.
It may seem a little complicated when you first start using crypto storage, but this feeling disappears over time. Crypto is freedom that requires attention to detail and specific knowledge.
