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Wallet, Exchange, Tools e How spend Crypto

In the world of cryptocurrencies, managing your digital assets is crucial. For this reason, it's important to be aware of all the methods available to you for storing, trading, monitoring, and spending your crypto safely and responsibly.

Through this article, we will explain all the necessary tools you need to know:

1. Wallet: Your Cryptocurrency Safe

A wallet is software or a physical device that allows you to securely and DECENTRALIZEDLY store your cryptocurrencies.

Through wallets, YOU will be the sole manager, and only you will have access to it.

There are different types of wallets, each with its pros and cons:

  • HOT WALLETS: These are the most common and easy to use but are also the least secure because they are connected to the internet. Examples include MetaMask, Trustwallet.

  • COLD WALLETS: These offer a higher level of security as they are not connected to the internet. They come in the form of dedicated hardware devices (such as Ledger Nano). These are particularly suitable for long-term crypto storage, as they are less practical to use compared to hot wallets.

Use HOT and COLD wallets according to your needs, just as you would with your normal euros. You can consider a HOT wallet like the wallet you carry in your pocket (or purse), while a COLD wallet is like your private safe at home.

Remember: it is crucial to write down your private key or seed phrase when creating a wallet. These pieces of information allow you to access your funds in case of loss of the device, uninstallation of the software, computer or phone breakdown, etc.

2. Exchange: Buy, Sell, and Trade Cryptocurrencies

An exchange is an online platform that allows you to buy, sell, and trade cryptocurrencies.

There are two main types of exchanges:

  • Centralized Exchanges (CEX): These are the most common and easy to use. They allow you to deposit your euros to buy crypto and sell crypto for euros and withdraw to your bank account. Since they are services offered by companies, registration requires creating an account and verifying your identity through your documents, a process called KYC. Examples include Binance, Bybit. There are also exchanges that do not require KYC, but when you want to deposit or withdraw euros, identity verification (KYC) is required. Examples include BingX, Mexc. Using a centralized exchange means you won't be the true owner of your funds. Keeping funds on an exchange is like keeping funds in a bank or through an intermediary. If the exchange were to fail, be hacked, or otherwise compromised, your funds may not be safe! Consider using a wallet for long-term crypto custody.

  • Decentralized Exchanges (DEX): These are programs built on blockchain through smart contracts. They do not require the creation of an account or identity verification to use them. They can be more complex to use, but you can connect your wallet and trade crypto anonymously and in a decentralized manner. You can use these exchanges to trade your crypto for others, but you cannot use them to trade crypto for euros. Examples include Uniswap, AtomicSwap (atomic wallet).

There are also services that allow you to buy Bitcoin without documents, preserving your privacy, completely legal. An example is Relai.

3. Strumenti: Your Allies in the Crypto World

In addition to wallets and exchanges, there are numerous tools that can help you manage your cryptocurrencies effectively:

  • Analysis websites: to monitor market trends and the value of your assets.

  • Security services: you can use various services to secure your accounts and wallets.

  • Staking services: to earn interest by holding specific cryptocurrencies.

  • Yield farming services: there are several platforms that can help you earn interest on your cryptocurrencies.

  • News and forums: to stay updated on the latest developments in the crypto sector.

  • Much more: there are numerous tools that can help you manage and use your cryptocurrencies.

4. How to Spend Crypto: More Than Just an Investment

Cryptocurrencies are not just an investment but can also be used for online and offline purchases.

Here are some ways to spend your crypto:

  • Crypto cards: These allow you to spend your cryptocurrencies at any store equipped with a POS system, and you can withdraw from bank and post office ATMs. Examples include Wirex Card, Trastra Card.

  • P2P services: These connect you with other users to buy and sell cryptocurrencies directly. Examples include Paxful.

  • Online and physical stores: A growing number of businesses accept cryptocurrency payments. You can use coinmap to check stores where you can spend crypto directly from your wallet!

In the section dedicated to Wallets, Exchanges, Tools, and methods to spend crypto, you will find detailed guides and insights on each topic.

With this information, you will be able to manage your crypto securely, efficiently, and consciously, making the most of all the opportunities offered by this new financial world.


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