Encrypted currency wallets, also known as digital wallets, are containers that can virtually store the electronic money you hold. Fundamentally speaking, it is a software program.

The digital wallet also contains information that identifies you as the owner of the digital currency in the form of a pair of public and private keys. These keys allow you, and only yourself, to obtain any funds transferred to you. The sending and receiving of funds are done on the blockchain ledger that requires your pair of keys. Any transaction completed will be registered in the blockchain.

This is different from the traditional e-wallet you use in various services. These ordinary e-wallets only hold funds transferred from bank accounts and can be used for any purpose. They do not use the encryption of digital wallets, so they may not be very secure.

Digital wallets don't save money themselves; they only keep the data (keys) that authorize you to trade. Your public key can be regarded as your account on the blockchain, and your private key can be regarded as a password. For this reason, you must ensure that this information is not disclosed. crypto wallet search typically refers to the process of searching for a specific cryptocurrency wallet address or transaction on the blockchain. This might involve using a blockchain explorer or a cryptocurrency wallet service to look up transaction details, wallet balances, and other information related to a specific cryptocurrency wallet. 

In the past few years, many digital wallets have emerged, each with its own advantages and disadvantages. Some are convenient but not very safe, while others are safe but inconvenient. Cryptocurrency users are keen to have a highly secure wallet, but such wallets can only be fully used by experienced users who understand their principles. Beginners may want to choose a form that is easier to store money.

Online wallet.
Online wallets run through cloud services. You can access them from browsers on any device. Online wallets are represented by GreenAddress and many exchanges that provide wallet services and trading platforms.

Online wallet is one of the most popular wallet types, convenient and practical, and has a variety of functions. The fact that you can access your money from any device makes online wallets popular. Many cryptocurrency exchanges integrate the wallet function to provide you with a "one-stop" service platform for trading.

However, because wallets run online, their security is poor. Compared with other types of wallets, they are more vulnerable to hackers. Your public and private keys are stored on the server, and if the server is compromised, your key may be stolen.

In addition, if the server crashes or shuts down, you will not be able to access your wallet. In this case, you are completely a slave to a third-party wallet provider or a Tudou server. Finally, some online wallets will limit your daily maximum transaction limit.

Desktop Wallet
As the name suggests, Desktop Wallet is software that runs on your computer. You just need to download the desktop wallet software and install it. They can run these wallets like any other desktop application. Popular desktop wallets today include electrum, exodus, and copay to name a few.

They provide a "middle ground" between online wallets and other wallets. These wallets have user-friendly interfaces, can perform a variety of functions, and can be accessed from the device on which you have installed the software.

However, if your system is attacked by a virus, your wallet information can be stolen. If your system is damaged, you may also lose funds because you can't withdraw them. Another disadvantage is that a desktop wallet downloads the entire blockchain ledger to your computer, and the entire ledger is very large (it takes about 50GB of space) - this is the inconvenience of a desktop wallet - consuming a lot of time and bandwidth.

Desktop wallets are also good for beginners as they are the gateway to those more advanced wallets. You can enhance the security of your desktop wallet by installing a backup program and using wallet rotation. This requires some technical knowledge about digital wallets, but it's a great way for beginners to move their wallets to a more secure form of storage at a later date and to learn about some of the technical aspects of wallets.

Mobile Wallet
Mobile wallets are really just an app on your phone. They have unparalleled convenience because you can use a mobile wallet to purchase items in stores and complete payments. Examples of mobile wallets are Mycelium, Airbitz and Bitcoin Wallet.

However, they are also very insecure and only marginally better than online wallets. Cell phones are known to be very susceptible to hacking, so it's not wise to use a mobile wallet as your primary form of money storage. If your phone is hacked or simply you lose it, the funds on your phone are gone with it.

We wouldn't recommend using a mobile wallet as your primary cryptocurrency wallet. If you have a small amount of money on a mobile app so you can use it for in-store payments, that's excellent. This is similar to your real wallet. You won't go out and carry a lot of cash with you because it's risky to do so, and it's enough to have enough money for your daily expenses.

Hardware Wallets
Hardware wallets are a must for anyone planning to make medium or large investments in cryptocurrencies. They are not stored in the cloud or on any particular device and are isolated from the internet. In most cases, they come in the form of a USB device that you can plug into when you want to use a hardware wallet. The public and private keys are stored on that USB device. The private key is generated offline, which makes it difficult for hackers to obtain. The ledger-nano-s and Trezor are two very famous hardware wallets.

Hardware wallets are very secure and this is because they are almost never connected to the internet. When you plug it in and use it, you can make secure online transactions. Support for hardware wallets continues to grow with web applications. You can also add password protection to your hardware wallet to further enhance security.

The downside of hardware wallets is that they are expensive and require an understanding of the technology. Plus, if you lose the USB device that serves as your wallet, you lose your wallet and all your money. But in our opinion, hardware wallets, because of the unrivaled security they offer, are well worth using. Except for the "hardware" wallets we mentioned below.