Summary
| Self-Custody Wallet: | A crypto wallet that gives you full control over your cryptocurrency by storing the private key, ensuring complete ownership and security. |
| Bitcoin Storage: | The most secure way to store Bitcoin is through self-custody wallets, offering excellent security and control over your assets. |
| Wallet Types: | You can choose between software wallets for everyday use and hardware wallets for offline storage, each with its advantages. |
| tastycrypto App: | tastycrypto is a user-friendly mobile app that simplifies self-custody for Bitcoin and altcoins on various blockchain networks. |
| Non-Custodial Wallets: | Non-custodial wallets, like tastycrypto, have gained popularity due to their increased control and security compared to centralized exchanges (CEXs). |
What Is a Bitcoin Wallet?
A Bitcoin wallet (like tastycrypto) serves as a self-custody storage location for bitcoin (BTC). It can take the form of an application, a hardware device, a third-party service, or even a physical piece of paper.
Self-custody wallets, which are also known as Web3 wallets, don’t hold Bitcoin itself, but rather a pair of keys – cryptographic information necessary for accessing cryptocurrency addresses and conducting transactions. These keys track your bitcoin holdings on the Bitcoin blockchain.
There are two types of keys that a wallet can store:
- Public key – this is the public address that can be shared with anyone to receive BTC, akin to the 16-digit number on your bank card.
- Private key – the public key is paired with a private key, which gives you access to the crypto stored on that address. Ideally, it shouldn’t be shared with anyone. It’s like the 4-digit PIN of your debit card.
Public keys can be thought of as a mailbox in that anyone can send crypto to it while private keys can be thought of as the actual key to that mailbox.
