Intro to cryptocurrency wallets


This channel is mostly about trading cryptocurrencies on markets, but I want you to also know how to store your funds responsibly If you were trading on the stock market, you wouldn’t just use your trading account as a savings account would you? The general rule of thumb is that you should never trade what you can’t afford to lose, and if you’re not trading with your cryptocurrency, you probably shouldn’t be keeping it in your exchange account

That’s why I’m going to give you a quick primer on wallets Wallets are — exactly what they sound like They’re a way for you to keep your cryptocurrencies on your person, er, I mean your hard drive There are services out there like Coinbase that give you basically “wallets in the cloud” Coinbase is fine, I have money in Coinbase, and I trust them, but let’s face the facts

S*** happens There’s no FDIC insurance in this world If you can, it would really help with your piece of mind and mine if you store your coins locally In the upcoming videos, I’m going to show you just how to get that all set up If I haven’t yet covered the installation process for the wallet of your favorite coin, let me know in the comments

I’ll be adding videos to this section routinely

About the Author Dancake

Hey hey hey. It’s Ville and welcome to my blog. I am a tech enthusiast and always looking for ways to generate new income streams. At the moment Bitcoin cloud mining is one of the most promising ones and that’s why I created this website. Hope you like your stay. If you want a quick start guide about making passive income with cloud mining check out this guide.