Understand the different ways to store your crypto
A crypto wallet doesn't actually store your coins - it stores the private keys that control them. Choosing the right wallet depends on your needs.
Browser Extension Wallets
Examples: MetaMask, Rabby, Rainbow
Pros: Easy to use, instant access, free
Cons: Vulnerable if computer is compromised
Best for: Daily transactions, DeFi, small amounts
Mobile Wallets
Examples: Trust Wallet, Coinbase Wallet
Pros: Convenient, good for payments
Cons: Phone theft/loss risk
Best for: On-the-go transactions
Hardware Wallets
Examples: Ledger, Trezor, GridPlus
Pros: Keys never touch the internet, most secure
Cons: Cost money ($50-200), less convenient
Best for: Long-term storage, large amounts
Paper Wallets
A printed copy of your keys
Pros: Completely offline
Cons: Can be destroyed, stolen, or lost
Best for: Backup only
Custodial: Exchange holds your keys (Coinbase, Binance)
- You trust the company
- They can freeze your account
Non-Custodial: You control your keys
- Full control
- Full responsibility
"Not your keys, not your coins." - If you don't control the private keys, you don't truly own the crypto.
1. Which wallet type is most secure for long-term storage?