The security of the various wallets varies. Among other things, the type of wallet plays a role. Put simply, there are so-called hot wallets and cold wallets. Hot wallets have a connection to the Internet, while cold wallets do not. In addition, each wallet has an individual key that is used for identification.

Create a wallet: This is how it works

There are several ways to create a wallet for buying and trading cryptocurrencies. When deciding for or against a type of wallet, not only the above-mentioned security aspects should play a role, but also the trustworthiness of a provider.

We recommend creating an online wallet an online wallet such as MyEthereum, Metamask or Exodus allows you to access your cryptocurrencies from anywhere and can be used to exchange, send and buy various coins and tokens.

These wallets can be used to access the blockchain via various websites. The application only needs to be downloaded to the PC or smartphone. A password for the personal wallet and a backup key are then created. The wallet can be restored with the backup key, which is why the phrase should be noted down and kept in a safe place.