Cryptocurrency Wallet Explained | How to Store Crypto Safely

Did you know?

A German Software developer Stephan Thomas lost his 7002 Bitcoins worth ₹3,400 Crores just because he forgot his cryptocurrency wallet password.

This is why we believe securing your cryptocurrency wallet is the most important thing you need to consider before making any kind of digital asset transaction.

Not sure about what Cryptocurrency Wallets are? & How to choose between the different types of Crypto Wallets?

Don’t worry we got you covered, in this video @Ishita Khanna explains how to safely secure your digital assets like NFTs or Cryptocurrencies using crypto-wallets. Boost your crypto knowledge with us to make sure you do not fall prey to any crypto scams or get denied of your access to the wallet and lose your holdings in any way.

Despite the fact that the NFTs or any kind of digital asset's transaction history is being stored on the blockchain. The wallet has a public and a private key which is like an address and access to your Crypto wallet respectively.

Important Note: Only the Public Key shall be shared for the purpose of making transactions and NOT the Private Key in any case, because it allows access to the wallet holdings to whoever has the Private Key. Taking note of a seed phrase and keeping it secure is just as important as having a physical key to your in a bank locker.

To understand different ways of keeping your holdings safe & secure in a deeper sense, watch this video till the very end.

#CryptocurrencyWallet #StoreCryptoSafely #CoinDCX

Timestamps:

0:00: How a Developer lost Bitcoins worth ₹3400 Crores
0:29: Introduction
1:16: What is a Cryptocurrency Wallet & How do they work?
1:40: Difference between Public Keys & Private Keys
2:55: Different Types of Crypto Wallets
3:16: What are Hot Wallets?
3:50: Custodial vs. Non-Custodial Wallets
5:00: What are Cold Wallets?
6:23: Hot Wallets vs. Cold Wallets, Which One is Right for You?
6:42: Safe Custodial Crypto Wallet in India
8:12: Summary

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