How to Get a Digital Currency Wallet

Getting a digital wallet is very easy, however there are a couple of different options that you can make use of when you want to start using cryptocurrencies, and they do work in different ways, so you need to understand fully just which one is going to best suit you.

I have a guide available on this website which is going to enlighten you on where to buy cryptocurrencies from, those sites are known as digital currency exchanges, and when you sign up to one you can have the option of storing your cryptocurrencies with them via their own wallet type account.

However, there is going to be a risk that when you do opt to do so, if that digital change ever goes out of business, is shut down or suffers any type of hacking attack then your cryptocurrencies stored with them are at risk.

Therefore you are going to be best advised to get another type of digital wallet, such as the one offered by MyEtherWallet or even the web browser extension known as MetaMask.

The main difference between those digital wallets and for example ones you get when you sign up to PayPal, Neteller or Skrill is that your cryptocurrencies are not stored in a wallet you can only access from their websites but they are stored on the blockchain.

The blockchain in case you are unaware of what one is, is simply a ledger that once established and verified cannot be tampered with or altered in any way.

As such your cryptocurrencies are always going to be safe and accessible when you utilize a service such as MyEtherWallet or MetaMask, as they are stored on the blockchain, and it is your private key issued to you when you sign up to such a service that gives you access to your cryptocurrencies.

When you do sign up to such a service you must make a note of things such as your password to access your wallet or web browser extension, the private key and also in the case of MetaMask the randomly selected set of twelve words that will allow you to access your cryptocurrencies if you change computers or your computer is damaged beyond repair!

Therefore it is important that you store all of your passwords, private keys, access words and the like not on your computer but somewhere you can always access them, such as on a USB device or even simply making copies of them and storing them in a safe.

There are however so many different cryptocurrencies available these days you will often find there are lots of different digital wallets associated with them so always pick one that is going to be offering you the absolute maximum of security and peace of mind at all times, for if you lose access to your digital wallet for any reason, then you instantly lose access to your cryptocurrencies, and that is something no one will ever want to experience.