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TH If you are someone who is crazy and interested in investing in digital currencies. Of course, there is one more thing you want and need. Crypto Wallet（Crypto wallet) or as some people may know it as Crypto Wallet or digital wallet
Its main function is that it is the address used to transact and store your cryptocurrencies.
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type ofCrypto Wallet
Due to the wide variety of crypto coins and the increasing number of crypto investors. This has caused crypto trading and storage service providers to pay more attention to the variety of Crypto wallets available.
The examples below detail the different types of Crypto wallets investors can choose from to store their coins.
1. Hot Wallet
This form of Crypto Wallet is always connected to the internet and crypto coin networks. To help facilitate transactions and help maintain security as well.
But the disadvantage of always being connected to the internet is that hot wallets are more likely to be hacked than cold wallets.
2. Cold Wallet
Cold Wallet is a crypto wallet that works offline without connection to the internet. As a result, cold wallets are less vulnerable to compromise than hot wallets.
But it has the disadvantage of being less convenient than other types of crypto wallets because you cannot use it all the time.
3. Hardware Wallet
As for Hardware Wallet, it is another form of Crypto Wallet that is not connected to the internet at all. This feature makes Hardware Wallet one of the most secure digital wallets.
4. Software Wallet
Software Wallet is considered to be the most popular form of Crypto Wallet today. Because it is easy to use and easy to access, it is an application used to store the private key of assets.
How crypto wallets work
The operation of a digital wallet is based on a single principle, which is to store a private key that can be connected to your digital assets on the blockchain. There are two different types of keys used in these transactions.
Public Key
which is like bank account number that we can use to send or receive coins with other investors
Private Key
which is like Bank account password It is one of the important things in the security system of your crypto wallet. You need to use the code every time you make a transaction.
How to choose the right crypto wallet for you
If you are looking for the right crypto wallet for you. We recommend that you consider the following key factors:
safety
This is the first factor to consider. You should choose a wallet that is highly secure, be it 2FA or MFA or Multi-Signature security.
and Bio metric identity verification that will allow you to access your digital assets even if you lose your Hardware Wallet.
ease of use
A good crypto wallet should be simple and convenient to use. Users should be able to access it from anywhere and at any time.
Supported crypto coin types
In addition to the security provided, crypto wallets should also support the use of a variety of cryptocurrencies to reduce the complexity of activating multiple wallets, whether it be Bitcoin (BTC), Ethereum (ETH), Tether (USDT). ) or USD Coin (USDC) etc.
Cost of use
Software wallet crypto wallet providers usually allow you to download their wallets for free. But for a wallet There will be different prices.
And the wallet that costs the most is the Hardware Wallet because of its high security.
Reliability of the wallet provider
Choosing a crypto wallet service provider that is reliable and supported by a standard organization is another factor that can help promote the security of transactions and storing your coins.
service provider Crypto Wallet Among the top 3 things to do in 2023
In the world of digital asset trading in 2023, investors will have more options as more crypto exchanges offer crypto wallet services.
Below are some examples of the most outstanding Crypto Wallets this year that professional investors like you shouldn't miss.
huobi
Huobi's crypto wallet is called iToken, formerly known as “Huobi Token Wallet” or abbreviated “HT”. It is one of the best crypto wallets that you can use for free on both. Computers and mobile devices support over 100 cryptocurrencies.
And what's more special, the Huobi platform is also certified by SEC of Thailand for February 2023 as well, thus helping you be confident that your crypto coins and the money you invest in will be inspected and certified for maximum safety.
kraken
One of the major crypto trading platforms with a long-standing reputation for security, Kraken, also has a crypto wallet available. They support trading over 200 cryptocurrencies and require verification to log in.
They store their crypto coins in a Cold Wallet keeping their private keys. This is a highly secure wallet as it works offline without an internet connection.
Additionally, you can access the Kraken investment and coin storage platform from desktop and iOS and Android mobile devices.
etoro
And one of our best crypto wallets is from etoro, a major provider of buying, selling, and storing digital assets and offering a wide range of services.
The highlight of the crypto wallet is that it comes in a Cold Wallet format, making the storage of users' private keys highly secure. There is also a security system selected with 2FA authentication as well.
As for ease of use, it is considered to be at a high level. Users can access cryptocurrencies from a variety of coins and channels. Whether it's a desktop or Android and iOS phones
Is it legal to trade crypto in Thailand?
As many users know, crypto investing is not yet supported by cryptocurrencies. Office of the Securities and Exchange Commission (SEC) of ThailandOne hundred percent
Therefore, we advise users to check the list of supported platforms directly on the relevant website before choosing any crypto wallet to ensure that your investment will be profitable. Get protection and be safe to use.
Precautions for using crypto wallets
As mentioned above, there are many different types of crypto wallets and each has its own pros and cons. Whether it is that Hot Wallet It can connect you to your crypto wallet at any time but has the disadvantage of being at a higher risk of being compromised.
or Hardware Wallet It is a highly secure option for storing private keys from online intruders, but it also has the disadvantage of being inconvenient to access and use the wallet itself.
Therefore, no matter what type of crypto wallet a user chooses to use, We recommend considering your usage preferences. Security system provided And of course, choose a wallet that is functional and easy to use for your investments.
Frequently asked questions about crypto wallets
Which crypto wallet is the best?
The best crypto wallets are the ones that make your transactions easier. Can be easily accessed It is cost effective and has a high security system.
Can I use Thai Baht to deposit into my crypto wallet?
Some crypto wallet providers allow you to deposit Thai baht into your wallet with low or no fees, for example: huobi etc.
Which Crypto wallets can be used in Thailand?
You can choose to use a crypto wallet to make your digital coin transactions easier than ever with many of the best crypto wallet providers including: etoro, kraken or huobi etc.
Hardware wallet or hot wallet, which is more interesting?
These types of crypto wallets have different strengths. Give a simple example. If you are looking for maximum security, Hardware wallet is the ideal wallet for your transactions.
But if you are looking for ease of use, then Hot wallet is an interesting option for making transactions.
What are the pros and cons of using a cold wallet?
The main disadvantage of cold wallets is that users are at risk of having their crypto wallet hacked.
