Paybis supports all kinds of wallets. You must, however, make sure you enter your wallet address correctly.

There are two main kinds of crypto wallets:

  • Hot wallets that are connected to Internet;

  • Cold wallets that are not connected to Internet.

Hot wallets:

Hot or online wallet refers to any cryptocurrency wallet that is connected to the internet. Generally, online wallets are easier to set up, access and accept more tokens. On the other hand, they are also more susceptible to hackers, possible regulation, and other technical vulnerabilities.

Pros:

  • Free

  • Quick access to your cryptocurrency (many hot wallets are accessible via your cell phone)

  • Easy to use, and user-friendly

Cons:

  • Online wallets by definition are connected to the Internet which means that your cryptocurrency is less secure (e.g. hackers, possible regulation, and other technical vulnerabilities)

Cold wallets:

Cold or hardware wallet refers to any cryptocurrency wallet that IS NOT connected to the internet. Generally, hardware wallets are more secure, but they don’t accept as many cryptocurrencies as do many of the online wallets.

Hardware wallets also cost close to $80 USD, whereas online wallets are free.

Pros:

  • The most secure option

  • As it’s completely offline this provides a greater level of safety.

Cons:

  • Expensive to buy ($80 USD+)

  • Not ideal for quick or regular transactions (you will always have to take your cold wallet with you so you would be able to access it.)

Hardware wallets we recommend to use:

  • Trezor is a hardware wallet on which you can store bitcoin, ether, Dash, Zcash, Litecoin, Bitcoin Cash, Bitcoin Gold, and any ERC-20 token.

  • Ledger is another hardware wallet on which you can store 1185 cryptocurrencies, including popular currencies like bitcoin, ripple, Ethereum, bitcoin cash, etc.

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