Cryptocurrency wallets – overview and comparison

The practice of using wallets for cryptocurrencies, for example, ltc wallet online, is even more diverse.  Wallets differ not only in principles but also in the place of storage and the application method.  Let’s start with the design.

There are hardware wallets.

They are not installed on a computer but on a particular device.  Which only connects to a computer and, through it, to the Internet to perform transactions and update data.  The rest of the time, the hardware crypto wallet is disconnected from the network, completely safe from hackers.  It can be stolen, but it will be tough to use its information.

Hardware wallets vary in performance and price.  These are the most reliable cryptocurrency wallets and the most expensive.

There are desktop wallets, i.e., stored on personal computers.

There are more of them than hardware ones.  They differ in software aspects and installation methods.

A desktop wallet can be installed on a computer that is usually disconnected from the Internet.  Then it becomes almost as reliable as hardware.  “Almost” because it is easier for the virus to get into the network at moments of connection with the network.  If it can’t steal the money, it can damage the internal system and erase all the information.  Sometimes a desktop wallet is divided into two computers.  One is connected to the network, the other is not, but it is he who stores the most important information.  Transmission and reception of data will occur in stages.

A desktop wallet is a reliable option but inconvenient for quick transactions.

There are mobile and tablet wallets.

They and some desktop wallets are usually hot.  The leading information remains on the Internet, and only some fragments necessary for work are placed on the device.  It can only be an interface, a “showcase,” for the convenience of entering communication with the system.  Others, when using the phone, can be difficult because the memory of most of them would not be enough to load information blocks, as is the case with “thick” wallets.

Among mobile wallets, there are wallets designed:

  • for IOS
  • for android

These wallets work with information on the Internet.  They store only a small part of the data.  Some mobile wallets cause the most significant doubts about their reliability.  Among the wallet programs available for download, many were later accused of stealing data, i.e., unauthorized access to someone else’s digital cash.  The situation was worsened by the fact that newbies often download such wallets.  Those who are used to installing free programs on their smartphones do not expect any threat from them.

A separate category can be distinguished:

  • web wallets for cryptocurrencies.

These are software products without reference to the hardware.  These wallets are constantly connected, entirely online.  They can be accessed from any device.  The convenience and speed of work on them are great, and security is below average.

Conclusion

When choosing a cryptocurrency wallet, the size of the amount to be stored, the regularity of transactions, the wallet’s security, the convenience of working with it, and the shelf life of tokens (in the short or long term) are taken into account.  In other words, the choice of a usdt online wallet depends on the user’s specific goals.