Types of Cryptocurrency Wallet
Web Wallet
This kind of crypto wallet primarily requires web access to execute the transactions.
Advantages:
- Speedy way to complete the transactions.
- Ideal for small transactions.
- Allows multiple cryptocurrency transactions.
- Easy to integrate directly with a crypto exchange platform.
Mobile Wallet
Highly functional cryptocurrency wallet that can be accessed easily on any mobile device and operating system. Internet connection is must.
Advantages:
- Easy and speedy transactions.
- Allows multiple cryptocurrency transactions.
- Can be accessed from anywhere on mobile with Internet connection.
- Pay and receive through QR code scanning.
Desktop Wallet
This kind of wallet is really effective cold storage method for cryptocurrency transactions. Comparatively safer that mobile and web wallet.
Advantages:
- Easy to use.
- Advanced and strong security compared to other types of wallets.
- Compatible to integrate with many wallet apps.
Hardware Wallets
Hardware wallets are offline devices and highly secured than other kind of wallets. It stores the private keys offline that decreases the chances of being hacked.
Advantages:
- Easy and safest way to store crypto assets for long term.
- Safer than mobile and web wallets.
- Comes along with private keys.
QT Wallet
QT is an UI framework and a cross-platform application. It offers full functionality for a currency. Efficient enough to download complete blockchain setup to your local computers.
Advantages:
- Compatible with all kind of operating system and device.
- Always asks for confirmation before any transactions.
- Shows the status of the transaction. For e.g.: Confirmed or Unconfirmed.
