If you're interested in participating in the Unico marketplace, you will need to understand what a wallet is.
What is a Crypto wallet?
Crypto wallets store your cryptocurrencies in a safe manner. They also allow you to send, receive, and spend cryptocurrencies like Bitcoin and Ethereum. As an NFT is a type of digital asset, crypto wallets are used to store them.
You will need an account with a wallet provider. This account will assign you a public address and private key.
What is a public address?
Public addresses come in the form of a string of numbers and letters that are used to identify wallets and to send and receive crypto. You can think of it as a username or an email address.
What is a private key?
Private keys act like complex passwords which give access to wallets and their protected assets and allow users to send tokens from their public address. It is important to keep your private keys as safe and as possible.
What are the types of wallets?
Wallets come in many forms. They are either built into your browser, an extension added to your browser, a piece of hardware plugged into your computer or even an app on your phone.
- Desktop/Mobile: Software that connects to the Internet as a solution to processing blockchain interactions. This is the most common type of wallet and may come in the form of a browser extension or mobile application.
Ex: Metamask, Torus, MyEtherWallet, Coinbase, WalletConnect, MyEtherWallet, Fortmatic
- Hardware: A piece of hardware that is built to keep your crypto secure via a physical medium. These will usually come in the form of a USB device. They can stay offline and be kept somewhere their user feels it is safe, while still being able to go online when the user would like to engage with the blockchain to store assets or manage funds. This usually involves plugging the device into a PC.