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Basics ยท 2 min read

What is a wallet?

Where your crypto actually lives, and why it's not a 'login'.

A crypto wallet is not like a PayPal account. It's more like a key. The key proves you own a specific spot on the public ledger where some Bitcoin (or other crypto) sits. Whoever has the key controls the coins. There's no "forgot password" button.

Wallets come in two flavors. A hot wallet lives on your phone or browser (apps like MetaMask, Phantom, Coinbase Wallet). They're easy and free, but if your phone gets hacked, the coins can be drained. A cold wallet is a small physical device (like a Ledger or Trezor) that stays offline. Way safer for serious amounts, but you have to plug it in to move money.

The most important thing in your whole crypto life is the seed phrase: 12 or 24 random words your wallet shows you once when you set it up. Whoever has those words owns the wallet. Write them on paper. Don't screenshot them. Don't email them to yourself. Don't ever type them into a website.

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