Crypto Accs

It's no secret that cryptocurrencies have become one of the most sought-after assets on the market over the past few years thanks to the growth of all kinds, from Bitcoin (BTC) and Ethereum (ETH) to Dogecoin (DOGE). This is the reason for the emergence of a large number of crypto accounts.

What Is a Crypto Account? Basic Principles of Work

A crypto account is a set of software and hardware methods that allow you to buy, sell, store, or transfer cryptocurrency to other users. Their functioning, like the work of the entire cryptocurrency market, is subject to blockchain technology.

  • Cryptocurrency wallets provide their owners with:
  • low costs and high speed of financial transactions;
  • increased security of operations, transparency, and availability;
  • guarantee of anonymity, the safety of personal data and cryptocurrency;
  • ease and simplicity of buying/selling digital currency on exchange sites;
  • invariability and irreversibility of transactions.

Crypto Accs Types

Bitcoin wallets can be divided into two types, namely: hot and cold. Hot ones are those that are connected to the Internet and provide the ability to work with bitcoins online. They are easy to enter, easy to use, and have a wide variety of settings. These crypto accs include:

Online crypto accs are web services that can be accessed through an online browser. They do not require downloading any software, and many wallets require only an email address to register with. 

Desktop bitcoin wallets or local ones are presented as separate programs. The advantage of such accounts is that in most cases they provide users with 100% control over assets, while wallets of crypto-exchanges and online services predominantly store users' private keys themselves.

  • Mobile bitcoin accs are a kind of alternative to desktop ones. They exist in the form of a mobile application that can be downloaded to your smartphone.
  • Crypto wallets on exchanges: most crypto exchanges have their built-in wallet for working with platform cryptocurrencies, which usually includes bitcoin.
  • As for cold crypto wallets, these include all solutions that are not connected to the Internet. Among the classic cold crypto wallets:
  • Bitcoin hardware accs are special devices for storing certain cryptocurrencies, resembling USB sticks in appearance.
  • Paper bitcoin accs are a simple sheet of paper on which the address and private key are printed, for example, in the form of a QR code