Types of wallets
There are 2 kinds of crypto wallets:
- Online wallets
- Hardware wallets
An online wallet refers to any cryptocurrency wallet that is connected to the internet. Generally, hot wallets are easier to set up, access and accept more tokens. But online wallets are also more susceptible to hackers, possible regulation, and other technical vulnerabilities.
- Quick access to your cryptocurrency (many hot wallets are accessible via your cell phone)