A public key is a wallet address that is available to everyone. Similar to the card number, the sender needs to know the recipient's public key in order to send them funds. Public key is used to encrypt information when the browser accesses the server. The private key is required to gain access to the wallet. Similar to the PIN, the wallet owner must remember the system-generated private key (or write it down and store it in a safe place) in order to manage the funds. Never share your private key with anyone! There are several types of storage for digital assets: • hardware; • software (local); • paper. Let's see what their differences are. Such devices are electronic devices that consist of a processor, touchpad and display. These devices generate public and private keys and store them. To process a transaction on such a device, you must connect it to your computer using USB or Bluetooth. Pros: • One of the safest ways to store cryptocurrencies. • Private keys are completely under user control. Cons: • They are not free. The hardware wallet starts at $ 50. • It can be difficult for beginners to understand the interface A software wallet is a software or cloud service that allows you to manage crypto assets. Most of all, these wallets are suitable for people who use digital money in their daily life or often conduct crypto transactions. Software wallets are divided into desktop wallets, web wallets, and mobile wallets. Pros: • Most often they are free. • Ergonomic and easy to use. Cons: • Like any software, such wallets are vulnerable to viruses and malware. • The user risks losing control of the private keys. A paper wallet is a sheet of paper on which the owner's private and public keys are printed. Despite the high level of security of the paper safe, it is not popular. On the one hand, this is a reliable cold storage without access to the Internet, and on the other hand, paper is too unreliable a medium of private information. The market for digital safes is constantly updated with new products. Developers of web applications for storing and transferring tokens are fighting for the attention of buyers. We will highlight several successful developments that we can recommend to our readers.
Top 10 Crypto Wallets in 2020
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