CLASSES OF CRYPTOCURRENCY.
Hello, my fellow cryptocurrency Learners,so far so good,in our Tom cruising journey,it will be good,if our followers give us their feedback and comments on our YouTube channel.
Thereby also raising our channel subscriptions to ten thousand (10,000) active subscribers.With your support, the sky is not the limit.
Today,we will be looking at classes of cryptocurrency, which there are two main type of wallets.
-Non custodial wallets.
That are also divided into another categories of.
Which are furthermore divided into the categories of.
You have to understand that,these division of wallets in to hot wallets and cold wallets, software wallets, hardware wallets and paper wallets are on the category of non custodial wallets class, because it’s a class of wallets,in which you take the responsibility of killing in the project, yourself by securing your wallet keys privately.
Where as,a custodial wallets are wallets that are hold in trust by third party on behalf of customers by cryptocurrency enterprises and companies.
Here,we should know that, software wallets, hardware wallets and paper wallets can be hot wallet or cold wallet, therefore to have a mixture of
-Non custodial hardware cold wallets or hot wallets.
-Non custodial software hot wallets.
-Non custodial hardware cold wallets.
Is very common.
Hot wallets,we should know are wallets that has internet connections or a connecting device with internet connection access, while cold wallets has no connection.
What we should know here is:-
-Software wallets are generally hot wallets.
-Mobile wallets use on iOS phones and Android phones can hasten quick payments in physical stores through near-field communication (NFC) or by scanning a QR code.
We are beginners,so we have to behave like the beginners,in our future class, we will know more on.
For more on this lesson,go to https://www.investopedia.com/best-bitcoin-wallets-5070283
Thank you for joining this class, you are welcome once again.