Advantages-disadvantages of online wallets

If you want to buy crypto money you should be aware that you also need a crypto wallet where the cryptocurrencies can be stored and there are different wallets that you can use!

First of all, you should know what a wallet is ... a wallet is not only used to store cryptocurrencies but also to carry out transactions between two wallets or accounts.

There are also crypto wallets for the PC and of course for the smartphone ... but this article is about an online wallet that is offered by the crypto exchanges ...

An online wallet is very often offered by the crypto exchanges where you can also buy and sell cryptocurrencies ... so you don't have to transfer the cryptocurrencies to your own wallet but leave it in the free wallet at the respective crypto exchange after the purchase.

A lot of people use the Binance crypto exchange.

Of course, other crypto exchanges also offer free online wallets ... at Binance you also get interest in the form of the stored cryptocurrencies and we also got other cryptocurrencies such as "Trust" and "Wink".

But where are the advantages of an online wallet ... the advantages are in the area that you do not have to worry about the security of the wallet, everything is done by the respective crypto exchange.

You can also conveniently access your online wallet from any device and all you need is an internet connection and you can log into your online wallet!

But these are also the disadvantages of an online wallet ... you entrust your crypto money to the crypto exchange, trusting that security is an important element and that the wallets are protected against hackers.

In any case, it is the most convenient way to store the cryptocurrencies you have purchased, but you should use several online wallets at different crypto exchanges so that not all of the capital is stored in the form of crypto money with one company.

Even if you don't think much of cryptocurrencies and cash should remain the most important means of payment, as it means freedom in various areas, you should still take cryptocurrencies seriously.

Cryptocurrencies will stay with us and the rates will continue to rise, there will be rising rates with the still cheap cryptocurrencies and thus similar opportunities as with Bitcoin back then.

Anyone who does not use these opportunities with cryptocurrencies such as Ripple, Cardano, Stellar, Tron, and other cheap cryptocurrencies is your own fault and misses the opportunity to make high profits.

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