Why should virtual currency be put in the wallet

1.

virtual currency wallets and local wallets are wallets specially used to store virtual currency

difference: local wallets are installed on their own computers or mobile phones, while online wallets encrypt the private key and put it on the server

personal computers may be implanted with Trojans; The wallet server also has the risk of being attacked by hackers, and the encrypted private key is cracked. Server security is better than personal computers, but it is easier to attract hackers' attention

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virtual currency Wallet:

there are three main types: Online wallet, client wallet (mobile client, computer client) and hard wallet

1. Online Wallet: it refers to the operation of virtual currency relative to wallet by users in the form of network; The main form is website, which users can visit through computer and mobile phone

2. Client Wallet: it is an installation software, which needs to be downloaded to the computer or mobile phone, and can only be used after installation; This is the type of mobile app wallet that I just mentioned

3. Hard Wallet: it is similar to the wallet in the form of U disk, which is a real type of wallet

local Wallet:

the English name of local wallet is local wallet. Local wallet is to store private key and transaction data in local terminal, such as computer, mobile phone or other local devices; It refers to the storage location of the key, and its concept is independent of online wallet and offline wallet

the English name of local wallet is local wallet. It is one of the terms related to bitcoin wallet in blockchain. Local wallet is to store private key and transaction data in local terminal, such as computer, mobile phone or other local devices; Local wallet refers to the storage location of key, which is independent of online wallet and offline wallet

the local wallet is installed on your own computer or mobile phone, while the online wallet is encrypted and put on the server. Personal computers may be implanted with Trojans. Hackers may steal your wallet files and record your wallet password; The wallet server may also be attacked by hackers, and the encrypted private key may be cracked. Server security protection is better than personal computers, but it is also easier to attract hackers' attention. In terms of security, I think these two types of wallets are similar

to enhance the security of local wallet and online wallet, it's better to set a more complex password, and don't forget it. Both local wallet and online wallet are easy to use and easy to use. Because online wallet is not limited by clients, it is easier to use than local wallet. Bitcoin core, Bitai wallet and bitpai wallet all belong to this category

local Wallet_ Network

2.

1. Different in nature

putting virtual currency on the platform is controlled by the platform, and putting virtual currency on the wallet is controlled by yourself

2. Different security

if the platform fails, the money will be gone, and the virtual coin will be put in the wallet. No matter whether the platform fails or not, the virtual coin will not have any loss

3. Different transactions

virtual currency platform can be sold or traded in public, while virtual currency wallet can only be traded in private

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the risk of virtual currency:

1, model risk

virtual currency is not real currency, there is no central bank behind the total control and macro-control, its value depends entirely on its supply

2, liquidity risk

virtual currency is often e to the lack of market depth, after irrational prosperity thinking or sudden panic, the market price rises and falls sharply, it is difficult to buy or sell at a reasonable price, especially when a large number of funds or a large number of virtual currencies enter the market

3, platform risk

at present, many virtual currency platforms need to deposit funds into the platform to buy or sell. In order to attract investors, some platforms often offer free service charges, but some free platforms are risky

3. Just like you put your money in your wallet and Alipay,
one is your wallet, the other is the third party platform.

4. It will be more and more difficult to mine by yourself. Jinhoe mining, mining machinery or its own assets, will arrive at the account immediately every day

5. Monroe is a decentralized cryptocurrency, which means it is a secure digital cash operated by the user's network. Transactions are confirmed by distributed consensus, and then the unchangeable records are recorded on the blockchain. Third parties don't need to be trusted to keep your monero safe

monero is based on cryptonote protocol and has significant algorithm differences in blockchain fuzziness. Monero's molar code structure is praised by Wladimir J. van der Laan, one of the core maintainers of bitcoin

Monroe is replaceable because it is private by default. Due to their association in previous transactions, monero units cannot be blacklisted by suppliers or exchanges

since its launch, monero has made several major improvements. First, it migrates the blockchain to different database structures to provide greater efficiency and flexibility; Set the minimum ring signature size so that all transactions are private, and implement ringct to hide the amount of transactions

Monroe coin also introces a new elliptic curve algorithm, which hashes the output distribution to the elliptic curve, which has never been seen in any previous research, but the Monroe coin research team believes that this is a safe hash function. However, there is no analysis to show whether the output of the function is randomly and evenly distributed or whether the implementation process is unidirectional. Therefore, it is generally regarded as a random function. The elliptic curve encryption of Monroe coin is based on Edwards curve. Edwards curve is fast, and in a specific definition, such as curve25519.

6. If the platform fails, there will be no money
put it in your wallet. No matter what the platform is, the virtual currency is in your own hands
wallet coins can be sold on the platform or in private

7. It depends on what you need to do when you buy money. If you hoard money for a long time, you must have insurance if you put your wallet. If you trade frequently, it's convenient to put your money on the trading platform. In fact, if you don't have much money, it's OK to put it on the exchange. Of course, the premise is a big exchange like okex with guaranteed security.

8. You put money on the platform. If the platform goes out of business, you will have nothing. If you put it in your wallet, the virtual currency is in your hand. The currency in the wallet of the coin pack website can be transferred freely.

9. Virtual currency is put on the platform. If the platform goes out of business, there will be no money; Put it in the purse, no matter how the platform is, the virtual currency is in your own hands; Wallet coins can be sold on the platform or in private