Underground Moods
  • What is Underground Moods
    • Features
      • Underground Moods release specs
        • Dubplate vinyls on demand
        • Wishlist crowdfund
      • Mood Gem Market
      • Underground Moods Arts Club
        • UGM Faucet
      • The Holistic Vault
  • NFT Utilities
    • Underground Moods Releases
    • MGM Diamond NFTs
  • How To
    • Setup web 3.0 account
      • Step 1 - Create Avalanche wallet
      • Step 2 - Set up MetaMask
      • Step 3 - Add Avalanche network to MetaMask
      • Step 4 - Connect MetaMask with Kalao
    • Sell NFTs
      • How to sell a NFT on Kalao
        • How to sell an NFT on Kalao (using X-Chain)
      • How to create an auction on Kalao
    • Purchase $AVAX
      • Step 1 - Purchase $AVAX
      • Step 2 - Deposit $AVAX
  • FAQ
    • Frequently Asked Questions
      • I want to release music on Underground Moods
      • I want to make videos for Underground Moods
      • I want to develop software for Underground Moods
      • I want to read the terms and conditions
      • I want to read the privacy policies
      • I want a refund
      • I did not receive NFT after purchase
      • I can't see my NFTs in my account
      • I can't cancel NFT sale on Kalao
    • Technology
      • What is blockchain
      • What is Avalanche blockchain
      • What are NFTs
      • What is metaverse
      • What is wallet
      • What is staking
      • What is breeding
    • Links
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What is wallet

Explains what a wallet is

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Last updated 3 years ago

Wallets allow you to interact with the blockchain network.

They don't actually hold your funds, but they allow you to access, send and receive cryptocurrencies.

Finally, they are just an interface that allows the user to store his private keys in order to access his funds more easily.

You can find wallets in different types:

  • Paper wallets are a printed piece of paper with keys and QR codes on it that can be scanned to make transactions. They can be considered as cold wallets.

  • Hardware wallets, on the other hand, are physical devices that do not have direct access to the Internet and are therefore a more secure way to store crypto-currencies. They generate and store private keys without any connection to the Internet. In general, they are suitable for those who do not make regular transactions or invest a large amount of money.

  • Software wallets are non-physical programs that you download to your computer or smartphone. These are web wallets, desktop wallets and mobile wallets. They are connected to the Internet and the user must always make sure that the computer used is not vulnerable to virus and malware. They are often more suitable for those who want quick access to monitor and exchange cryptocurrencies easily.

In order to interact with the Kalao Ecosystem, you can follow and tutorials.

"How to create an Avalanche wallet"
"How to create a Metamask wallet"