Wallet Basics
Don't use wallets that don't provide recovery data, because if you don't have your own private keys, you don't actually own your BTC! Also, don't keep large amounts of money in one wallet and make sure your heirs know how to get your wallets back without you!
The core of the wallet is the private key or seed phrase (Ethereum is used as an example).
Here's how the private key looks like:
0xa164d4767469de4faf09793ceea07d5a2f5d3cef7f6a9658916c581829ff5584
In addition, here's how the seed phrase looks like:
cruel weekend spike point innocent dizzy alien use evoke shed adjust wrong
Classified by application: PC wallets, browser extension wallets, mobile wallets, hardware wallets and web wallets. Please note that while there are wallets that can be trusted to some extent, no one can guarantee that they do not have security problems during use.
In terms of internet connection, they can be mainly divided into cold wallets and hot wallets. Before we jump into the crypto world, we must first think about the purpose of the wallet. The purpose not only determines which wallet we should use, but also how we use the wallet.
No matter what kind of wallet you choose, one thing is for sure: after you have enough experience in this world, one wallet is not enough.
Here we should keep in mind another security principle: isolation, i.e., don't put all your eggs in one basket.The more frequently a wallet is used, the more risky it is. Always remember: when trying anything new, first prepare a separate wallet and try it out for a while with a small amount of money.
Types of Bitcoin addresses (compatibility matrix).
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