Читать книгу Cryptocurrency All-in-One For Dummies - Peter Kent, Kiana Danial - Страница 50

First, you need to understand the difference between a traditional digital wallet and a cryptocurrency wallet. You may already be using digital wallets, also known as e-wallets, through your mobile phone. Cryptocurrency wallets are a whole different animal and come in several different types of wallet client software that each caters to different needs. The following sections cover the five most popular types of cryptocurrency wallet client software, in order of their security level (from least to most secure).

In Figure 3-1, you can see a summary of the most common crypto wallets and their examples that Kiana shared with Invest Diva students in 2018. Note: According to Bitcoin Wiki, a “seed phrase, seed recovery phrase, or backup seed phrase is a list of words which store all the information needed to recover a Bitcoin wallet. Wallet software will typically generate a seed phrase and instruct the user to write it down on paper. If the user’s computer breaks or their hard drive becomes corrupted, they can download the same wallet software again and use the paper backup to get their bitcoins back.” A PoS stands for proof of stake, a mining concept explained in Book 6, Chapter 2.

Specific wallet brands mentioned here aren’t the only options available, and you shouldn’t take their inclusion as a recommendation. You must do your own research to find the best options available in your area as well as for your needs and chosen cryptocurrencies and activities.

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FIGURE 3-1: Popular cryptocurrency wallet types.