There exists various types of cryptocurrency wallets to allow users store and access their digital currencies in different ways. The question that is relevant in this context is how far are these wallets secure. Before taking up the security aspect, it is helpful to understand the various types or varieties of cryptocurrency wallets that exist today.
Cryptocurrency wallet: Types and varieties
These wallets can broadly be classified in 3 categories:
- Software walletsHardware wallets andPaper wallets
Cryptocurrency software wallets can again be sub-divided into desktop, online and mobile wallets.
- Desktop software wallets: These wallets are meant to be downloaded and installed on desktop PCs and laptops.