Crypto Wallets

So I finally figured out what crypto wallets actually are after screwing it up for months when I first started.

They're not really "wallets" at all. Your crypto isn't sitting in some app or device - it's always on the blockchain. Your wallet just holds the keys that let you control your stuff.

I used to think my Bitcoin was literally "in" my wallet app. Nope. The blockchain is like this massive spreadsheet in the sky that says who owns what, and your wallet is just your proof of ownership.

Hot vs Cold

You've got two main options:

Hot wallets are connected to the internet. Super convenient but kinda sketchy security-wise. I use Trust Wallet for small amounts I might need to move around quickly.

Cold wallets stay offline. Those little USB-looking things from Ledger or Trezor. Yeah, they're annoying to use every time, but after my friend got his Metamask hacked last year and lost 3 ETH, I keep anything substantial on my cold wallet.

Don't Mess Up Your Seed Phrase

When you set up a wallet, they give you this list of random words. WRITE THEM DOWN. Seriously.

I wrote mine on paper and stuck it in my copy of "Cryptonomicon" on my bookshelf. My buddy Jake took a screenshot of his and then lost his phone. Guess who still has their crypto?

Exchanges Aren't Wallets

Keeping everything on Coinbase or Binance is like leaving all your cash with some dude who promises he'll totally give it back whenever you ask.

I learned this lesson the hard way when an exchange I used got hacked in 2019. Still bitter about those tokens I lost.

Get comfortable moving your stuff to personal wallets. Start with small test transactions so you don't have a heart attack thinking you've sent your crypto into the void.

Trust me, you'll sleep better knowing you actually control your own digital assets.