In order to participate in the future of Cryptocurrency, it is important to have a good blockchain wallet, or crypto wallet. The blockchain, because of its design, has much tighter security built-in. However, it is still important to find the right wallet to ensure that it stays secure. Not only does the wallet store the crypto securely, but it also will protect and validate the information for each transaction.
What is a Blockchain Wallet?
So you are likely wondering “what is a Blockchain Wallet”? I am sure you know what physical wallets are. They are generally leather and hold your cash (known as FIAT), debit, and credit cards. There may be any a number of other things in a regular wallet, however this discussion is about currency, both FIAT and crypto.
The short explanation is that a blockchain wallet is a digital wallet for your cryptocurrency that allows you to:
- Transfer FIAT money (money as we know it) into the wallet.
- Purchase cryptocurrencies such as Bitcoin, Ethereum, or any of the other available coins.
- Make purchases or pay others using your Bitcoin or other coins.
- Sell any of your cryptocurrency.
- Withdraw FIAT money from your blockchain wallet to your regular bank account.
You can also “STAKE” crypto coins. This is the digital equivalent of putting money into a savings account, and earning interest. And many of the digital coins pay much better interest rates than you can get at your bank today!
Choosing a Blockchain Wallet
Now that you have a basic introduction to blockchain wallets, the next step is to make a choice. And there are so many choices out there. The one we recommend is Coinbase, because it is very easy for those just getting started with cryptocurrencies. Coinbase supports almost 200 coins, and also allows you to “STAKE” coins. It also has a feature where you can learn about new coins and earn coins as a reward. This is extremely helpful for the crypto novice, helps them learn and grow. In addition, you can earn $10 in Bitcoin when you set up your account, and buy or sell $100 on the platform!
I only recently started using Coinbase, and have found it to be very easy to use, especially for those just starting their journey into the world of crypto.
We will help….
We will continue to share information about cryptocurrencies and we ourselves learn and grow in this area. And we are always willing to help expand everyone’s knowledge in this area.
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