💳Setting Up a Wallet

There are two primary types of HOT and COLD wallets.

HOT wallets are software-based and are always "ON." They can be easy for the owners to access and use to actively trade by desktop or mobile device by simple clicks and a password.

Examples of hot wallets would be MetaMask, SafePal, TrustWallet.

COLD STORAGE or HARDWARE wallets are hardware-based and can be disconnected or never connected to the internet. They require some sort of physical interaction to confirm transactions and are considered safer than HOT wallets.

Examples of cold wallets would be Ledger, Trezor, and the SafePal S1.

In the following tabs you'll find the steps for setting up a wallet for the above examples.