What in the world is a blockchain wallet? Well, hopefully you know what a wallet is. You know, that leather (usually) fold-over pouch that you store and carry all your valuables in one place. That’s where you carry your credit cards, insurance cards, cash and of course, that cute kid you call a grandchild.
Well, everyone seems to be talking about the blockchain and that exotic currency call cryptocurrency. If you’re going to explore investing in that world, you’re going to need a wallet to secure, exchange and redeem your assets. Just like you put your physical wallet in your purse or pocket, you store your blockchain wallet in a virtual environment..
Find a Secure Blockchain Wallet
Just like everything on the web, you can find an assortment of blockchain wallets out there, but who do you trust to keep it safe. We are using and recommending one of the best, COINBASE. Just by setting up a wallet with them, you get $10 in BTC. And it’s a good way to learn more about wallets.
From there, there are several other wallets – all with set purposes and resource within blockchain, cryptocurrency and the growing digital future in store for us all. For example, you may have: Apple Pay as a backup payment method if you forget your physical wallet; Venmo when you want to split bills with friends and family; PayPal for a quick, easy and secure checkout from retailers that accept it.
Other Benefits of a Coinbase Blockchain Wallet
One of the features of Coinbase is that you can STAKE your coins. It’s kind of like taking out a Certificate of Deposit with your local bank. When you Stake your coins, you agree that you will not sell or transfer them. You then earn passive earnings through the “interest” your earn on them with a rate ranging from 0.01 to perhaps over 25%. Generally, your gain is via cryptocurrency. This staked crypto is used to validate additional transactions. With staking, the blockchain keeps the assets in exchange for rewards.
As with any investment, there are risks involved but generally, Coinbase has proved to be very secure. And as with any “newer” technology, there will be hiccups and growing pains. But if you’re going to play in this playground, go with the best for your digital wallet, COINBASE.
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