![]() ![]() Software wallets like the ones offered by Armory or Coinbase are a popular way to store crypto due to the convenience and ease of access. You may even want to store a copy in a locked safe or a safety deposit box. If you’re going to store your keys using paper, make sure you make multiple copies and store them in different locations. This method can be highly secure because your keys are stored online, but it also comes with some risk if you lose the paper your keys are written on, you could lose all of your digital currency. You can choose to store your public and private keys on a piece of paper. Paper WalletsĪ paper wallet is as basic as it sounds. ![]() Here’s a closer look at the different crypto wallets and key types. These are public and private keys, and each type performs a specific function. Regardless of which type of crypto or bitcoin wallet you choose, you will need to use two types of keys to access, send, or receive crypto. They can be paper, software, or hardware-based – think of them as a bank account for your crypto assets. Simply put, crypto wallets are where you store your cryptocurrencies for safekeeping. I’ll also let you know how they compare to cryptocurrency exchanges and share some key terminology. This article will cover ten of Canada’s top crypto and bitcoin wallets for 2022. ![]() The owner of a crypto wallet gains access to their wallet by using a private key. A crypto wallet is a type of software that lets you store your cryptocurrency online, or in the case of a hardware wallet, offline in a physical storage unit. Nor can you store it in a traditional bank account. Because bitcoin is a virtual currency, you cannot hold it in your hand. ![]()
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