Crypto Wallets

[cahlen]

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Here's a summary of what Cryptocurrency Wallets are, their various types and when to use which.

WALLETS I USE

Local (Open Source): https://cakewallet.com/
Local (Multi-Wallet): https://coinomi.com
Online (Exhange): https://coinex.com/

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Comments

[overunitydotcom]

not your keys, not your money... !!!

[harvestmoon299]

Thanks for your explanation and recommendations! Two questions:

1. Does the pass phrase unlock an encrypted wallet stored on a server somewhere, or does it map directly to the wallet data?
2. In light of the possibility of a crash in the cryptocurrency system because of a power outage, are there any decentralized cryptocurrency technologies that
   a. Do not depend on a certain majority of computers to be online? I think HIVE does this with rotated witnesses.
   b. Can process transactions offline? Cash works this way. You check certain markers to look for counterfeits, and you trust that before accepting payment; but the bank systen can validate the serial numbers and roll back fraudulent transactions.

[cahlen]

1. I think it can recover a wallet while offline. I'll have to test that.
2. Good question, I'd like to understand this better too.

[overunitydotcom]

everybody has to fully understand, that if someone gets your seed phrase of you Wallet or your hardware wallet, they can really easily steal all your cryptos then...
so never let your book lay around, that has all these phrases and passcodes written in there as some new guests can come into your house and take a quick snapshot with their phone...and suddenly all your cryptos are moved away from your adresses, that you own..
🤔🤔🤔😱😱😱😮😮😥😥😥😰😵😳😳😳😪😪🥴🥴🥴🥵🥶🥶🥶

[katou.kanga]

A lot now use https://tradeogre.com/markets because they can get Pirate through Btc. And one of the best hard wallets is Trezor which is recommended by many

[overunitydotcom]

everybody has to fully understand, that if someone gets your seed phrase of you Wallet or your hardware wallet, they can really easily steal all your cryptos then...
so never let your book lay around, that has all these phrases and passcodes written in there as some new guests can come into your house and take a quick snapshot with their phone...and suddenly all your cryptos are moved away from your adresses, that you own..
🤔🤔🤔😱😱😱😮😮😥😥😥😰😵😳😳😳😪😪🥴🥴🥴🥵🥶🥶🥶