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What is a cryptocurrency wallet & how do I get one?
What is a cryptocurrency wallet & how do I get one?


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Written by Easy Crypto
Updated over a week ago

💡Important Note: The user assumes all responsibility and risk for the use of third-party services to store cryptocurrencies or virtual assets. Ensure that you do your own research before using any service, and are aware of the risks involved. Easy Crypto will not be liable for any damages caused by the use of a wallet or exchange provider.

A cryptocurrency wallet is a place where you store your crypto, and it acts like your traditional bank account, but the difference here is that YOU are your own bank and security.

Choosing the right wallet is a really important step as it is where you will store your crypto and you must take steps to make sure you keep your cryptocurrency safe.

Different wallets can accept different cryptos, some can store NFTs. So ensure that if you are considering purchasing multiple different coins you find a wallet that is able to hold multiple coin offerings.

A crypto wallet is simply an app, website, or device that manages private keys for you.

Types of wallets

Hot or Software Wallets

For small amounts of crypto, it's easiest to use a hot wallet like Edge, Exodus, Coinomi, or Trustwallet.

These are really user-friendly options that you can run on both your phone and PC but ensure you back it up with the 12-24 word passphrase before you make your first buy.

📖-24 Word Passphrase: A series of words used to recover or access your cryptocurrency wallet. It's crucial for restoring your wallet in case of loss or theft.

Hardware Wallets:

If you're starting to store a bit more crypto and you want to better protect your balances, you could consider the move up to a hardware wallet like the Trezor or Ledger Nano.

If you're looking to store NFTs on your device, we now stock the Ellipal Titan

If you like using Exodus, you can also pair your Trezor with Exodus for an all-in-one experience.

To protect yourself from the loss of your Trezor or Ledger, you can also add a passphrase for extra security.

💡It's very important not to lose any of the passwords or passphrases for your different devices, so please have a read of our article on how to back them up.

How do I get a wallet?

Hot / Software wallets are available to download directly from their official websites. Make sure you visit the official website and click on the App Store or Google Play buttons to ensure you are downloading a legitimate copy of the Wallet and not a fake app. If you want to make sure that you are heading to the correct website for the wallet you want, please contact our helpdesk team as we keep the links regularly updated.

To set up a hot wallet check out this video example of setting up the easy-to-use Edge wallet.

For hardware wallets

Make sure you find an Authorized retailer like Easy Crypto to make your purchase. You can often purchase directly from the manufacturer, however as we are locally based we are often able to get them to you a bit quicker!

Check out our shop and your options here: Easy Crypto Shop

We regularly test and add new wallets to our shop and get our staff to check them out before we do.

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