In this article, we will tell you where and how to store cryptocurrency. At first glance, the issue of storing cryptocurrencies may seem like a banal thing – they threw it on the exchange, and that’s all. And there is no point in understanding all the abundance of crypto wallets. However, it is worth understanding what they are and what they are suitable for.
1 – Ledger
This is wallet that supports most known cryptocurrencies and blockchains (Etherum, Bitcoin, Shiba, Polkadot). So, even not the most popular currencies and exchanges like eth to sc are available.
At first it may seem that you are throwing cryptocurrency into it, like on a flash drive, but this is not so. This is the same window to the world of Web3, but with additional protection. Namely, physical interaction with the wallet. That is, you cannot interact with your assets without physically pressing the button. Thus, you are protected from the risk of losing cryptocurrencies as a result of computer/phone hacking.
The principle of installation is simple. After you have unpacked your wallet, you should install the Ledger Live application and follow the instructions to create a wallet. During the process, you will need to write down a 24-word seed phrase. This is the most important part.
Ledger supports many popular blockchains and cryptocurrencies. That is, it is not focused solely on EVM compatible blockchains. Among other things, Ledger can be connected to hot wallets such as Metamask for easier access to Web3 applications.
2 – Trezor
Another wallet that stores your cryptocurrency without physical access to it. The essence of the work is about the same as that of Ledger. This is a universal wallet that supports most popular blockchain networks and cryptocurrencies. There is not much difference between these two wallets.
Trezor also offers its own asset management app, which is only available on the desktop. Trezor suite.
3 — Theta Wallet
Theta is one of the prospect blockchains in the media industry, as well as the entertainment space. It even hosts its own hackathon, offering developers new ways of revealing their skills and adds promising projects to the platform.
Theta Wallet is the Theta team’s official wallet. It’s an online and mobile application (both for Android and iOS). This wallet gives you complete access to the Theta ecosystem: not only can you send and receive THETA transactions, but you can also use the platform as a decentralized streaming service.
The theta wallet is compatible with TFuel, the platform’s second token, which you can earn by watching other users’ movies and sharing your bandwidth with the network. It also acts as gas for Theta transactions, and if you’re just getting started with the wallet, you may use a TFuel faucet to get some tokens.
You can also stake THETA and TFuel in Theta wallet, which allows you to protect the Theta network and be compensated for it. If you’re a developer, Theta Wallet lets you keep track of your Theta-based contracts.