All right folks let's go to part two of our brief series on crypto wallets now there are different types of wallets which are going to be doing we've kind of gone over this to some extent with the exchanges versus wallets but we use something like a hot wallet for frequentUh cryptocurrency transactions for using wallet-enabled applications but you'll be using a cold wallet for long-term storage so those are two of the main distinctions and wallets or the really the only two types of watch you're gonna be thinking about so let's talk about hot wallets now hot water is going to be somethingConnected to a internet connected device so it could be your laptop it could be your smartphone um and it's simple easy to use we at this point have our iphones and androids as extensions uh our very essence uh for better or for work so that's what a hot wall is gonna be usedFor now one thing to remember though is that a hot wallet is a lot more vulnerable so when you're thinking about malware and fishing and being stolen from that's gonna happen on a hot wallet let's talk about the two types of hot wallets your desktop or your mobile wallet now the firstHot wallet on the desktop i think was bitcoin qt and you know it's just something you get on your windows your mac um and it's still the most popular type of wallet for beginners not bitcoin qt uh desktop wallets those are still quite popular to install a desktopWallet you're going to go to you're going to go to the developer website and you're going to download like electrum exodus metamask brave those are some desktop wallets now mobile wallets are useful if you want to do transactions on the go because you don't want to be you know taking that laptop aroundEverywhere like the real nerdy kid in law school anyway so if you want to use your mobile wallet your your device your android your iphone you want to remember to of course like have a really strong pin uh it's way more likely to lose your phone than your laptopAdditionally it's just more there's just more to happen because it's more likely outside of your home in terms of just you know people wanting to mess with you especially if they know that you've got money on it which most people at this descent have something even it's just apple pay additionallyYou may want to limit the amount you have in your hot wallets of course considering the extra risk that you have when you're carrying a mobile device now with mobile devices you can sometimes get the wallet directly in the google play store or the apple app storeBut you may want to go directly to the developers as well some of those major ones are going to be mycelium metamask mobile atomic wallet and truss wallet next let's talk about cold wallets now i'm going to do a whole thing looking at the various cold wallets out but let's just dive intoWhat we're talking about to begin with which is a wallet that is not connected to the internet so you will not be to do any transactions on the code wallet unless you attach that wallet to the internet so of course if you're doing frequent transactions which you know i always suggest you buyShouldn't be doing anyway you're going to want to use that cold wallet now technically cold water can be a hardware wallet or it could be some type of paper backup hardware wallet is going to be a usb device that stores your private key we've talked about private keys beforeI'm sure i'm gonna talk about private keys uh in the future but that's what your hardware wallet is gonna have now it has a pin code to help keep people out of it and then you're gonna connect it to your pc the device will then send the signatureThrough the usb port but it never sends the private key itself in theory this prevents any malware from your pc being able to get to your private key now just a quick aside your hardware wallet can still have the information robbed from it if they get your physical deviceSo if your hardware wallet is stolen and used to have access to it you may want to get everything out of there now the safest way to get a harder wallet is to get it directly from the manufacturer this is not something that you know we would probably do a giveaway for becauseUh you know it's just you got to trust me dude you trust me now some popular hardware wallets are the treasure model t the ledger model x and the safe pal s1 now let's talk about paper backup wallets now when you first set up a desktop wall you're going to be given aNumber of seed words that allow you to get back into your account in the case that your device crashes or something bad happens however you can also use these words as a form of long-term storage let me talk about how that would work so you wouldWrite your seed words on a piece of paper and you would secure that piece of paper with your life two you would transfer your crypto to a desktop wallet three you would delete that wallet from your pc and you would have to make sure that you did step oneVery very well so once you've done this the crypto is essentially stored on that piece of paper which means that an attacker shouldn't be able to do anything to get access to it it just doesn't exist in any form that they have access to unless they of course have your seedWords now when you're ready to spend your crypto you can reinstall that crypto wallet bada bing bada boom you're ready to go all right thanks for watching part two of today's look at crypto wallets my name is gabe this is security.org be secure You

Crypto Wallets: A Comprehensive Guide Cryptocurrency has become increasingly popular in recent years, with more and more people embracing digital payments and transactions. One essential tool for managing and securing your digital assets is a crypto wallet. In this mini-series, we will explore what crypto wallets are, what they can and cannot do, and why […]