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Hot vs. cold wallets: What different crypto wallets do

What are the different kinds of cryptocurrency wallets, and which should you choose? Watch this 3-minute Forkast.News video explainer to find out what’s right for you.

Just like dollars, pounds or any other form of money, cryptocurrencies need to be kept in a safe place, too. After all, you wouldn’t leave your cash lying around just anywhere — so why would you do so with your digital currency? This Forkast.News explainer video will take you through different cryptocurrency storage options and what kind is more suitable for which crypto investor.

What you will learn by watching this video:

  • What are the two main types of crypto wallets?
  • Why crypto wallets are important and why investors — especially crypto beginners — should not store their coins directly on crypto exchanges?
  • What are the pros and cons of hot and cold wallets, and which kind is more appropriate for your investment needs?