Welcome to the first zondacrypto Swiss Academy lesson. When stepping into the crypto world, you’ll often hear that you need a “crypto wallet” before buying Bitcoin or other coins. But what exactly is a crypto wallet, and why does it matter when using zondacrypto Swiss?

With zondacrypto Swiss, you can easily buy and sell crypto with CHF and EUR, and send both crypto and fiat to any wallet or Swiss bank account. In this guide, we’ll explain what a crypto wallet is in simple terms, both physical and digital so you can choose the right setup for your needs. 
 

What is a cryptocurrency wallet?

A cryptocurrency wallet is a tool, either a physical device or a software app, that securely stores your private keys, which are like passwords giving you access to your digital assets on the blockchain. Unlike a traditional wallet that holds cash, a crypto wallet doesn’t store coins directly. Instead, it holds the keys that let you prove ownership, send, receive, and manage your crypto.

There are different types of wallets, but they all serve the same purpose: giving you control over your funds. To buy, sell, or transfer crypto with zondacrypto Swiss, you’ll need a wallet to fully manage your assets and move them securely.
 

Types of Crypto Wallets: Hot vs. Cold (Software vs. Hardware)

When exploring crypto wallets, you’ll often come across terms like “hot” and “cold” wallets or, simply, software vs. hardware wallets. Here’s what that means:

• Hot Wallets (Software)

Hot wallets are connected to the internet and usually come in the form of mobile apps, desktop programs, or browser extensions. They’re easy to use, ideal for everyday transactions, and let you quickly send or receive crypto. However, because they operate online, they can be more exposed to risks like hacking or malware, especially if your device isn’t well-protected. Think of a hot wallet like your everyday bank account: convenient for regular use, but not ideal for long-term storage.

• Cold Wallets (Hardware)

On the other hand, cold wallets stay offline most of the time. These are physical devices like USB sticks or smart cards that store your private keys securely away from internet access. You only connect them when making a transaction. Since they’re not constantly online, they offer a much higher level of protection against cyber threats. Cold wallets are more suited for holding assets you don’t need to move, often similar to a vault where you keep items you rarely touch.
 

Getting a crypto wallet: helpful tips

1. Always download and buy from the original websites. While resell offers may be tempting you with a lower price, they come with a higher risk of the device being unsafe.

2. Carefully think about what you’re going to use the wallet for before actually buying a device. Choose the one that suits your needs best.

3. Store your keys safely and don’t share them with anyone.

A crypto wallet is your personal gateway to the world of digital assets. It gives you full control over your funds but with that control comes responsibility. Whether you choose a physical device or a mobile app, it’s important to understand how your wallet works and follow best practices when managing it. With the right tools and habits, you can confidently navigate the crypto space on your own terms.