Digital Wallets Made Simple

NFTs Made Simple

Feb 26 2022 • 16 mins

The beauty of crypto and NFTs is they don't require bank accounts. So if this is the case, where do you save your assets? In a digital wallet.

A digital wallet is an app that allows cryptocurrency holders to store and retrieve their digital assets. When a user acquires cryptocurrency (or NFT), you store it in a wallet. You then can make transactions, such as the purchasing a NFT.

There are Hot and Cold wallets. Both with pros and cons.

A hot wallet lives online and makes it easier to transact with others, but it is less secure. A cold wallet lives offline (similar to a USB drive), which makes it more secure, but more difficult to transfer to others.

Regardless, in order to transact with a blockchain, you'll need to understand some basic wallet concepts. That's what this episode is all about!

Topics:
➡️ What is a cryptocurrency wallet?
➡️ Do you need one and why?
➡️ Is my cryptocurrency safer in a wallet then not?
➡️ What is the difference between a hot and cold wallet?
➡️ If I move my Cryptocurrency to a wallet, what's the cost?
➡️ How do I connect my wallet to an NFT marketplace?

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This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!