With the rapid development of technology, digital transactions and investments have become easier. Various ways and technologies have emerged to make it easier for humans to exchange assets quickly. One of them is a technology known as a crypto wallet.
A Crypto wallet is a software program, where this digital wallet allows its users to store and manage their crypto assets such as Bitcoin, Ethereum, and other crypto-assets.
It can also help to transfer crypto-assets anywhere and to anyone with a crypto wallet. After the crypto asset is sent and entered into the recipient, the recipient can convert it back into fiat currency or other terms of legal tender distributed by the government in the form of paper money.
Well, there are several types of crypto wallets, here. First, Hot Wallet. A hot wallet, also known as hot storage, is an online wallet. With this, users can easily access their wallets through the website. Hot wallets are also divided into two types, namely hosted and non-hosted. Of these two types, most people prefer non-hosted wallets because they can easily add to their crypto assets.
The second one is, cold wallet. In terms of name and technology, it is very different from hot wallets, cold wallets or also known as cold storage are offline wallets that are safer from digital threats. Although it is safe, there are drawbacks, because it is not online, its use uses a more manual system and cannot be accessed anywhere with the internet.
Then, the third is a paper wallet. As the name implies, of course this type of wallet is in the form of paper. Where, on that piece of paper printed the private and public keys. Paper wallets can reduce the chances of someone’s bitcoins being stolen by hackers or tampered with by a computer virus. Paper wallets are used by printing the public and private keys of the user’s bitcoin account on paper, which is usually accompanied by a QR code so that the import process back into the digital wallet can run easily.
In Indonesia, the most famous and secure crypto wallet is Indodax. Indodax is a crypto asset trading platform which is also a pioneer and the largest in Indonesia. In addition to offering convenience and security in transactions, Indodax will also give you convenience in storing crypto assets.