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Author: Admin | 2025-04-28
Tokens on other blockchains, Bitcoin is stored in a Bitcoin wallet with a unique address.You can call a Bitcoin wallet a bank account as follows:Therefore, if you lose your private key, you will lose ownership of your wallet. Remember to keep your private key and don’t disclose it to anyone.3 Types of Bitcoin WalletsHot wallets or Non-custodial wallets are places to store coins/tokens online, where users have to keep the private keys to protect their own crypto assets. There are some popular wallets for storing crypto assets, namely: Coin98 Wallet, Trust Wallet, Metamask, etc.Cold wallets exist in the physical shape (usually as a USB) that require multiple security steps. Investors often use cold wallets for long-term coins/tokens storage. This complexity enhances the security of the wallet in return. Some popular cold wallets are Ledger, Trezos, etc.Wallets on exchanges or Custodial wallets, basically, users don’t own any private key, they access their funds by password kept by the exchange. Since investors store their crypto assets on exchanges, there are potential risks of scams and shutdowns. Binance, Okex, and Coinbase are the most popular centralized exchanges.Bitcoin WalletsBitcoin's Potential RisksBefore investing in anything, it’s important to acknowledge all the potential risks.Bitcoin Bubble - Crisis ErasBitcoin Bubble is the event when the price of Bitcoin has been skyrocketing in a short time.For example: At the beginning of 2017, BTC was $1,000. However, the price surpassed $11,000 then inclined to $9,000 in just 24 hours.In the transition of 2017 and 2018, the Bitcoin price was
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