Intro to cryptocurrency wallets


This channel is mostly about trading cryptocurrencies
on markets, but I want you to also know how to store your funds responsibly. If you were trading on the stock market, you
wouldn’t just use your trading account as a savings account would you? The general rule of thumb is that you should
never trade what you can’t afford to lose, and if you’re not trading with your cryptocurrency,
you probably shouldn’t be keeping it in your exchange account. That’s why I’m going to give you a quick
primer on wallets. Wallets are — exactly what they sound like. They’re a way for you to keep your cryptocurrencies
on your person, er, I mean your hard drive. There are services out there like Coinbase
that give you basically “wallets in the cloud”. Coinbase is fine, I have money in Coinbase,
and I trust them, but let’s face the facts. S*** happens. There’s no FDIC insurance in this world. If you can, it would really help with your
piece of mind and mine if you store your coins locally. In the upcoming videos, I’m going to show
you just how to get that all set up. If I haven’t yet covered the installation
process for the wallet of your favorite coin, let me know in the comments. I’ll be adding videos to this section routinely.

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