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A self-custody wallet is a type of cryptocurrency [[wallet]] that allows users to have full control over their private keys and digital assets. Unlike [[custodial wallet]]s, which are managed by third-party service providers, self-custody wallets provide complete ownership and control of the user's assets. This means that users are responsible for managing their own private keys and are not reliant on a third party for asset management. Self-custody wallets are typically more secure and offer greater privacy compared to custodial wallets. |
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A cold wallet is a type of cryptocurrency [[wallet]] that is not connected to the internet, providing a higher level of security. Cold wallets are used to store large amounts of cryptocurrency offline, protecting them from online threats such as hacking and phishing attacks. Examples of cold wallets include hardware wallets, paper wallets, and offline computers. |
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A custodial wallet is a type of cryptocurrency wallet that is managed by a third-party service provider. These wallets are typically used by individuals who do not have the technical expertise to manage their own cryptocurrency assets securely. Custodial wallets offer convenience and ease of use, but they also come with the risk of losing control over one's assets if the custodian's platform is compromised or goes out of business. Examples of custodial wallets include centralized exchanges, custodial services, and online wallet providers. |
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A Hardware [[wallet]] is a physical device designed to securely store cryptocurrency private keys. Unlike [[hot wallet]], hardware wallets remain offline, providing enhanced security against online threats and hacking attempts. They are considered one of the safest methods for managing and safeguarding digital assets. |
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A hot wallet is a type of cryptocurrency [[wallet]] that is connected to the internet, providing easy access to the user's digital assets. Hot wallets are typically used for daily transactions and are more susceptible to security risks such as phishing attacks and online theft. Examples of hot wallets include mobile wallets, web wallets, and desktop wallets. |
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A wallet is a digital storage device used to manage and secure cryptocurrency assets. It serves as a secure vault for digital currencies, allowing users to store, send, and receive digital assets. Wallets can be categorized into [[hot wallet]], [[cold Wallet]], and [[hardware wallet]]. |