In the currency circle, it is difficult to do without a digital wallet. As the most critical part of the world of digital assets, virtual digital currency wallets play an important role like a bank.
Types of digital wallets
1. Software wallet and hardware wallet
In terms of form, wallets can be divided into software wallets and hardware wallets.
Software wallet is an APP, installed on our mobile phone or can be installed on our computer.
The hardware wallet has a dedicated device to store the private key, and the functions related to the signature are also performed on this hardware device.
2. Cold wallet and hot wallet
According to whether it is online or not, we can divide wallets into cold wallets and hot wallets.
The most commonly used wallets that have been connected to the Internet are hot wallets, such as the well-known IMtoken and Bitpie. Hot wallets are easy to use, easy to operate for novices, and relatively efficient in transaction transfer.
The wallet that has not been used in the network environment is a cold wallet. For example: professional hardware wallets write private keys (or mnemonics) on paper, and some people use devices that are not connected to the Internet to make cold wallets.
3. Full node wallet
In addition to saving the private key, the full-node wallet also saves the data of all blocks. The most famous is bitcoin-core, which has better privacy. The disadvantage is that the novice has a poor experience and takes up a lot of hard disk space. Need to synchronize data every time.
4. Centralized wallet
As the name implies, it is a wallet for transactions through a certain platform or banking institution during the transaction, such as the safe provided by oklink.
5. Light wallet
A decentralized wallet that only saves data related to itself, does not save all block data, and is very small.
The aforementioned wallets can all fulfill the needs of storing digital assets, but in terms of experience, light wallets are slightly better.
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