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Understand What a Wallet Does
A cryptocurrency wallet doesn't actually "store" your crypto like a physical wallet stores cash. Instead, it stores the cryptographic keys that prove you own cryptocurrency on the blockchain. Think of it like this: Your crypto exists on the blockchain (a public ledger). Your wallet holds the "key" that proves you own it and lets you send it to others.
- Wallets store keys, not actual cryptocurrency
- Your crypto lives on the blockchain
- Keys prove ownership and enable transactions
Choose the Right Wallet Type
There are several types of wallets, each with different trade-offs between convenience and security:
Browser Wallets
MetaMask, Phantom
✓ Easy, great for dApps
⚠ Connected to internet
Mobile Wallets
Trust Wallet, Rainbow
✓ Convenient, always with you
⚠ Phone can be lost
Desktop Wallets
Exodus, Atomic
✓ More features
⚠ Computer security matters
Hardware Wallets
Ledger, Trezor
✓ Most secure, offline
⚠ Costs money
Download from Official Sources Only
This is CRITICAL for your security. Scammers create fake wallet apps and websites that look identical to real ones but steal your crypto.
- Only download from official websites
- Verify the URL carefully (look for typos)
- Check the developer name in app stores
- Never download from third-party links
Secure Your Recovery Phrase
When you create a wallet, you'll receive a recovery phrase (also called seed phrase) - usually 12 or 24 words. This is the MOST IMPORTANT thing to protect.
- Write it down on paper - NEVER digitally
- Store in multiple secure locations
- Never share with ANYONE
- Never enter on any website
- If someone has your phrase, they have your crypto
Common Scams to Avoid
- • Fake Support: Real wallet companies will NEVER ask for your recovery phrase.
- • Phishing Sites: Always verify URLs. Bookmark official sites.
- • Fake Airdrops: Be suspicious of free crypto offers requiring wallet connection.
- • Malicious Apps: Only download from official sources, never from links.