There is a common concept that your crypto wallet is where your coins are held. That is a massive simplification. In fact, your coins are on the blockchain - your wallet is just a set of public and private keys meant to authorize and allow crypto transactions. There are different methods of keeping those keys - you can just store them, use a software (hot) wallet or a hardware (cold) wallet. Software wallets are easier to use and more user-friendly, but due to their online nature they are more prone to security risks. Hardware wallets are more secure, as you can unplug them while not being used, however they might always be lost and you have to spend money upfront to purchase them.

Each crypto wallet has an address (public key). A wallet address is a unique phrase used to identify your particular crypto wallet. It is made up of letters and numbers and can be different lengths. Think of it like a bank account number - the address specifies which wallet the crypto goes to. Please note that your wallet address and your seed phrase/private key are NOT the same. You can post your wallet address publicly, while your seed phrase must be kept secret, as knowing it will allow unauthorized access to your wallet.


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