Sep 25 2022 12 mins 1
Episode Highlights
- Crypto wallets give you access to your cryptoassets; they do not store your crypto
- Public addresses are derived from public keys, which are derived from private keys; crypto is sent to a public address, while private keys prove ownership of that crypto, allowing you to spend it
- Private keys should be kept safe and offline; moreover, they should be backed up
- There are pros and cons to using non-custodial and custodial (crypto exchange) wallets
- Your choice of non-custodial wallet depends on your investment strategy and whether you prioritize convenience or security
Helpful links
- Coinbase’s Terms of Service: https://www.coinbase.com/legal/user_agreement/united_states
- Celsius freezing withdrawals: https://www.coindesk.com/policy/2022/06/13/crypto-lending-service-celsius-pauses-withdrawals-citing-extreme-market-conditions/
- Voyager limiting withdrawals: https://www.coindesk.com/business/2022/06/23/voyager-digital-cuts-daily-withdrawal-limit-to-10k-amid-3ac-exposure/
- James Howells and the lost Bitcoins: https://www.newyorker.com/magazine/2021/12/13/half-a-billion-in-bitcoin-lost-in-the-dump
Select hot wallets
- https://www.myetherwallet.com
- https://mycrypto.com
- https://metamask.zendesk.com/hc/en-us
- https://trustwallet.com
- https://www.exodus.com
- https://www.coinomi.com/en/
Select cold wallets
