What is a blockchain wallet? Unlike digital wallets and even traditional pocket wallets, Blockchain wallets don’t save cryptocurrencies. Their function is to keep a record of all transactions related to your cryptocurrency – buying, selling, and exchanging – and to store them on the Blockchain. A blockchain wallet, also called a cryptocurrency wallet, allows users to manage different types of cryptocurrencies like Bitcoin and Ethereum. The software program enables you to buy and sell cryptocurrency and monitor the transactions and balances on your digital currency.
Features of Blockchain Wallets. Well, the blockchain is Here To Stay. Many features of Blockchain wallets make them more favorable than other storage accounts.
- Easy to use: A Blockchain wallet is like any other software or wallet you use in daily transactions.
- Highly secure: Wallet security is important for users considering a Blockchain wallet. Once you secure your private key, your wallet is highly secure.
- Instant global reach: Blockchain wallets allow immediate transactions across geographies. All of your transactions are free of any barriers and have no intermediaries.
- Low fees: Compared to traditional bank accounts, fund transfer costs in Blockchain wallets are much lower.
- Multiple cryptocurrency transactions: Blockchain wallets allow transactions across more than one cryptocurrency, which allows easy currency conversions.
Looking for the best way to upload CASH or FIAT into Cryptocurrency? We use the blockchain wallet with COINBASE (we suggest you set it up – it is the best way to learn more. You get $10 in BTC just for joining).
- From there, there are several other wallets. All with set purposes and resources within blockchain, cryptocurrency, and the growing digital future in store for us all. For years we have been trusting and utilizing Coinbase.
- Coinbase is now offering Staked Coins, and the option to “Stake” or hold your coins for gains. You agree to lock them, where you “STAKE THEM” meaning you will not sell or transfer them. They are STAKED so they hold the value of the COIN itself. For doing so, you get an APY or Annual Percentage Yield as you would with a Bond or Savings Account. These are ranging from 0.01 to sometimes 25{41b09fb06b1a953ddeb04611a9d534216ebbd59b3d66d0d9eaaf369bcf8c50cf} or more. The ones supported within Coinbase generally have proven to be more safe. But risk is always involved with investments and that includes staking.
- Staked Coins can gain in rewards, usually in additional coins as the staking is occurring. Similar to a bank bond or Certificate of Deposit. Used to create and leverage the creation of additional Crypto Coins.
We cover and train on the Blockchain, Cryptocurrencies and More in our Online Community Zoom Rooms. Be sure to get in Contact With Us for more! We will educate and support you in this incredible time of life with this technology.