Have you decided to try cryptocurrency but do not know which wallet to choose? Let us keep it simple and avoid unnecessary terminology.

1. Exchange wallet
This is the simplest option for beginners and those who keep small amounts. You register on an exchange and get an account through which you can store assets and make transactions within the platform.

Pros: convenient, everything in one place, no need to deal with keys.
Cons: you do not control the keys directly, so this is a trade-off between convenience and managing your funds yourself.

2. Hot wallet
This is a standalone application, for example Trust Wallet, MetaMask or Tonkeeper, where only you hold the keys. When creating a wallet, you receive a seed-phrase — usually 12 or 24 words — which is required to restore access. It is convenient for those who regularly use cryptocurrency and are ready to take responsibility for storing the keys.

Pros: full control over your funds.
Cons: the seed-phrase must be stored very securely. If you lose it, restoring access is generally impossible.

3. Cold wallet
This is a separate physical device, for example Ledger or Trezor, which stores keys offline and enhances security. Suitable for those who hold significant amounts.

Pros: high level of security.
Cons: you need to purchase the device and learn to use it.

What to choose as a beginner
If you are just getting started, most people choose an exchange or a hot wallet. They are easier to use and suitable for the first steps.

Before choosing a wallet, check the official website, the service’s reputation, and support for the networks you need. Do not download apps via links from unverified sources!

With the theory covered, you can now move on to practice. Moreover, until June 30, a cashback is available in your SOLARGROUP account for funding with cryptocurrency: 20% for the first deposit and 15% for all subsequent deposits.

Fund your account with cryptocurrency.

*The translation is done with the help of artificial intelligence.

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