Should your crypto wallet be online or on your PC?

[Grant]

I'm still a bit new to cryptocurrency and was curious about wallets. When it comes to using one, should it be a wallet on your own PC? Or would it be best to have a wallet within the cloud? Or maybe I'm confusing how this all works? Can you explain if so?

The reason I ask, is because I got a wallet for Dogecoin, as I was going to invest, but did not end up doing so. They had me download and install their dogecoin wallet. So that's why I made this topic. Just want to see if I'm right or way wrong. lol

 

[Suba]

I'm still a bit new to cryptocurrency and was curious about wallets. When it comes to using one, should it be a wallet on your own PC? Or would it be best to have a wallet within the cloud? Or maybe I'm confusing how this all works? Can you explain if so?

The reason I ask, is because I got a wallet for Dogecoin, as I was going to invest, but did not end up doing so. They had me download and install their dogecoin wallet. So that's why I made this topic. Just want to see if I'm right or way wrong. lol

Ok bro, currently there are lots of crypto wallets that you can use, but you need to know before using them, there are two types of crypto wallets, namely hot wallets and cold wallets, hot wallets (mobile wallets, web wallets and desktop wallets) that are always connected to the internet. the internet is cold wallet (hardware and paper wallet) not connecting to the internet or offline mode. So my advice if you want to store crypto that is worth above US $ 750 then you should use a hardware wallet.

 

[Didosky]

Well it all depends on how you want to save your coin.. there are people who safe theirs online and there are people who save theirs on their pc.. but I would prefer saving mine in a hardwire

 

[Josemendez]

You can only have two types of wallet , a hot wallet and cold wallet. The hot wallet are the ones that can always be connected online perhaps in your phone or PC but the cold one are the ones that are store in a special device that are like USB

 

[Nurudeen]

You can decide to put it where ever you want to put it so far it's just safe and secure. As for me I keep my crypto currency wallet in my portfolio so any time I need it I just go there to copy it

 

[Senator]

If you want your wallets to be in your computer is all your choice to make. I like mine online. I don't want a situation someone goimg to my computer and tries to access any of my wallet

 

[Shigobad2020]

You can only have two types of wallet , a hot wallet and cold wallet. The hot wallet are the ones that can always be connected online perhaps in your phone or PC but the cold one are the ones that are store in a special device that are like USB

I am just hearing about the two types of wallet for the fist time , I just have a crypto wallet which is luno account and i dont even know if its characterise as hot wallet or cold., but with your definition I believe my wallet is hot wallet.

 

[mcjerry]

I'm still a bit new to cryptocurrency and was curious about wallets. When it comes to using one, should it be a wallet on your own PC? Or would it be best to have a wallet within the cloud? Or maybe I'm confusing how this all works? Can you explain if so?

The reason I ask, is because I got a wallet for Dogecoin, as I was going to invest, but did not end up doing so. They had me download and install their dogecoin wallet. So that's why I made this topic. Just want to see if I'm right or way wrong. lol

If you know that you are not ready to trade or do anything with the dogecoin that you are having. I will advise you to download coinomi wallet or trust wallet. They are both offline wallet. I don't trust all those online wallet. They can bring storey at any time which will leads to lost of your coin.

 

[Josemendez]

I am just hearing about the two types of wallet for the fist time , I just have a crypto wallet which is luno account and i dont even know if its characterise as hot wallet or cold., but with your definition I believe my wallet is hot wallet.

The hot and cold aspect of it is all about internet connection. Your Luno wallet is usually connect to internet so it is a hot wallet .cold wallet are like USB they are not always connected to the internet

 

[Setho]

Before you even begin your cryptocurrency journey it is very important that you know that there are many types of wallet. Only afternoon this will you be able to determine which one will be best for you.

 

[Dowenship]

I'm still a bit new to cryptocurrency and was curious about wallets. When it comes to using one, should it be a wallet on your own PC? Or would it be best to have a wallet within the cloud? Or maybe I'm confusing how this all works? Can you explain if so?

The reason I ask, is because I got a wallet for Dogecoin, as I was going to invest, but did not end up doing so. They had me download and install their dogecoin wallet. So that's why I made this topic. Just want to see if I'm right or way wrong. lol

Its better you have it on both. their nothing bad in having your wallet both on your PC and your phone.... in case your phone get lost you can access your wallet on your pc

 

[Shigobad2020]

The hot and cold aspect of it is all about internet connection. Your Luno wallet is usually connect to internet so it is a hot wallet .cold wallet are like USB they are not always connected to the internet

Really appreciate for the explanation on the aspect concerning hot and cold aspect of the wallet, so the luno wallet account is hot wallet while the one connected to USB is cold wallet.

 

[Josephjossy]

It depends on the wallet that you are using example of using atomic wallet so I have the app on my phone I don't need to store it on my computer or on the internet it is good for you to have your app on your phone so you can make transactions so easily

 

[Tolumi]

I'm still a bit new to cryptocurrency and was curious about wallets. When it comes to using one, should it be a wallet on your own PC? Or would it be best to have a wallet within the cloud? Or maybe I'm confusing how this all works? Can you explain if so?

The reason I ask, is because I got a wallet for Dogecoin, as I was going to invest, but did not end up doing so. They had me download and install their dogecoin wallet. So that's why I made this topic. Just want to see if I'm right or way wrong. lol

This is my own rule of thumb; if my asset is below $20000 I will keep all of them in an online wallet but once its more than that I withdraw some to an offline wallet. Basically, any currency I will not be trading or spending in the next 4 months is put in an offline wallet.

 

[eLdavis]

It depends on what you want, personally I don't go for online wallets much, not because I don't trust them but rather for easy and quick access to my coins.

 

[Grandeur]

Technology has so improved that smartphones can now do a lot of work like PC's so you don't have to go everywhere with your laptop to monitor your wallet, it can be done on your smartphone.

 

[Yusuf]

So far you have the crypto currency exchange platform on your smartphone, you can always copy the wallet address from the platform whenever you need it for any transaction and you will just copy it from there

 

[Aaron625]

Your crypto wallet need not be in PC , it can also be an Android or IOS wallet. I use Android crypto wallets such as Trust wallet , coinomi wallet and atomic wallet. In fact , there is no option to download Trust wallet in PC.

 

[tyrim88]

When it comes to saving cryptocurency it has to depend on what you really want.You can decide to save yours in an online wallet and access it whenever you like,you just download the app and you are ready to use.Mine is an online wallet.

Post automatically merged: Aug 4, 2021

When it comes to saving cryptocurency it has to depend on what you really want.You can decide to save yours in an online wallet and access it whenever you like,you just download the app and you are ready to use.Mine is an online wallet.

 

[Good-Person]

I have my wallet on my computer and I use a downloaded wallet software to send and receive my coins. I have been using software wallet for a very long time and I never had a problem with it ever.