Where do I keep my NFTs? Say goodbye to pocket wallet and hello to digital

[blockchainx424]

Where do I keep my NFTs? Say goodbye to pocket wallet and hello to digital

• NFTs, and tokens in general, can be stored in so-called digital wallets that do the same service as traditional wallets with everyday money.

• Any simple Google search for digital wallets leads you into a whole new world of digital concepts.

• Among them are those of “cold” or “hot” wallets, public and private keys, as well as innumerable warnings about the importance of security in this market.

• Let's not get carried away by panic because in the end, all these concepts have their counterpart in the traditional world that we already know and dominate.

Hot or cold: a matter of taste and objectives

• Cold wallets differ from hot ones in that they are not connected to the network. They have a physical support similar to a USB and therefore exist in the real world.

• The main advantage of cold wallets is that they are not hackable. So your digital assets are less at risk in that sense.

• The main disadvantage is that, having a physical form, they can be broken or lost, making everything inside them disappear forever. Additionally, it is always necessary to connect them to the network, even momentarily to be able to operate with the assets they contain.

• A reasonable strategy could be to use both types depending on the objective we are looking for. The digital assets that we want to keep in the longer term will be stored in the cold wallet and those with which we will operate more regularly in the hot one.

• MetaMask is the best known hot wallet. And for cold wallets, Ledger and Trezor can be very good options.

• Whichever option is chosen, digital wallets have the function of controlling the private key that gives access to the digital assets inside. Let's not be scared, a private key in this world is the equivalent of the password we use to access the traditional bank account, while the public key would be the number of the bank account.

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[Wilbert Love]

• Cold wallets differ from hot ones in that they are not connected to the network. They have a physical support similar to a USB and therefore exist in the real world.