Day 10: Crypto Wallets

Do you have a crypto wallet yet? The popular ones you’ve probably heard of are MetaMask, Coinbase Wallet, and Trust Wallet.

When I first heard the term crypto wallet, I imagined it was like a digital coin purse where I could keep my Bitcoin, ETH, or whatever tokens I had.

Later, I learned that’s not really how it works.

Here’s the truth: your coins don’t actually live in your wallet, they live on the blockchain. What your wallet really holds are your keys.

Think of it like your house.

• Your crypto coins don’t exist inside your wallet; they live permanently on the blockchain. Your wallet holds the private keys, which are the digital equivalent of a password. These keys are the only way to access and control your coins.
• Think of it this way: the coins are a house on a public street (the blockchain), and your wallet is the key to that house. If you lose your keys, the house is still there for everyone to see, but you can never open the door again. There’s no spare key, no landlord, and no locksmith to call. Once the keys are gone, the house—and everything in it—is lost forever.

So, what exactly is a crypto wallet? It’s a tool that lets you send, receive, and prove ownership of your crypto. And just like wallets in real life, they come in different styles.

And just like wallets in real life, they come in different styles.

Hot Wallets

• Examples: MetaMask, Trust Wallet, Coinbase Wallet.
• Perfect for quick access, trading, or even connecting to dApps.

The good side? Super convenient.
The risky side? Being online makes them more exposed to hacks.

Hot wallets are always online.

Think of them as your daily-use purse or wallet. Easy to grab, but if you’re not careful, someone might snatch it.

Cold Wallets

Cold wallets live offline.

• Examples: Ledger, Trezor (they look like USB sticks).
• Great for long-term storage of your crypto.

The good side? Very secure from online attacks.
The not-so-good side? Less convenient for quick trades.

Think of them as your safe at home. Your money is secure, but it’s not something you carry everywhere.

Which One Should You Use?

It really depends on how you use crypto:

• If you’re trading or using crypto daily → Hot wallet is your friend.
• If you’re holding for the long term → Cold wallet keeps your stash safe.

Most people (myself included) end up using both: a hot wallet for everyday moves and a cold wallet for savings.

Final Bite

A crypto wallet isn’t just a place to “store” coins—it’s your key to the crypto world. Protect it like you’d protect your ATM PIN or the keys to your house.

Because here’s the simple rule:
👉 Lose your keys, lose your crypto.

See you again tomorrow!