In simple terms, a cryptocurrency wallet is a special program for receiving, sending and storing cryptocurrency and is the link that helps you convert digital money into fiat money and pay with it in the way you are used to.
There are three main types of wallets: software, hardware, and paper. According to the way they work, they can be divided into two types: hot and cold.
A hot cryptocurrency wallet is a wallet with Internet access. This type is convenient for daily use, because you can check your balance, deposit or withdraw funds at any time.
However, it is better not to store large amounts of money in this type of wallet, because it is less secure than a cold, or offline wallet. This type of wallet is more secure because instead of online storage, a physical medium is used to write the keys offline.
Examples of some tried-and-true cryptocurrency wallets: MetaMask, Trust Wallet, SafePal, MyEtherWallet, MDAO Wallet, MDAO KeyWallet.
The most common wallets among users are MetaMask and Trust Wallet.
In our ecosystem products, these wallets are also common among users, along with MDAO Wallet.
Therefore, we have collected detailed information on the use of wallets and their common features.