If you are curious about what to do with your crypto once you purchase it, Bitstamp has got tutorials for you!
For example, our tutorials on how to send ETH and BTC will teach you about safeguarding your assets, how transferring crypto differs from bank transfers, and what mechanisms are in place to send and receive crypto (such as private and public keys, addresses, and accounts).
You will also find tutorials on how to store your cryptocurrencies (like BTC and ETH). Did you know that there are different types of cryptocurrency wallets? Mobile wallets are mobile apps that enable access to private keys on the move.
Online wallets enable you to access crypto on your browser and desktop wallets are software programs that store your private keys on your personal computer’s hard drive. If your wallet is connected to the internet, this is also known as a hot wallet. Lastly, paper wallets (also known as cold wallets since they are never connected to the internet) allow users to print their public and private keys on a piece of paper.
If you are interested in reading more about how these processes work, Bitstamp is here to help you.
Since cryptocurrencies like BTC, LTC and ETH are digital currencies, they have no physical form. As such, they are stored in a fundamentally different way than traditional currencies. There are two main ways of storing crypto: in your own digital wallet or at a crypto exchange.
XRP is designed and operates somewhat differently from other major cryptocurrencies such as bitcoin and ether. This holds true for both transfers and the storage of the XRP cryptocurrency.
Bitcoin (BTC) is the world’s first decentralized cryptocurrency, the largest cryptocurrency by market cap and the most traded cryptocurrency by volume, as of the writing of this article. As the precursor to all other cryptocurrencies, BTC also happens to be the first to have been sent from one address to another, paving the way to a global, decentralized and highly secure payment system.
Ethereum (ETH) is the native cryptocurrency of one of the most popular blockchain-based distributed computing platforms for deploying smart contracts, developing decentralized applications and launching initial coin offerings (ICOs). While the primary role of ETH is to function as fuel for all kinds of transactions on the blockchain, it is also a highly-traded asset. In fact, it is one of the top cryptocurrencies by market cap and among the most-traded cryptocurrencies by volume.
Unlike traditional fiat money, cryptocurrencies have no physical form. Therefore, it is impossible to put a bitcoin in your pocket. In a way, storing bitcoin is like storing fiat money on your bank account, without having the option to withdraw physical banknotes. Even though you cannot see the money, you know it is there and you can always check your balance to make sure.
So, we hear congratulations are in order! You have taken your first step towards engaging with the Ethereum ecosystem and have bought some ether (ETH)! Now you will be able to get involved in staking, NFTs, the rest of the DeFi marketplace, and the wider metaverse! But you’re probably wondering how to store your ETH. If so, read on - this one is for you.
If you own XRP, or if you are considering buying some, the first thing you should determine is where you will store your digital assets. As is the case with other major cryptocurrencies, such as BTC and ETH, XRP can be stored in different ways. You might opt to store your assets in a wallet – any of the multiple types, including paper, software and hardware wallets – or you might choose to store your XRP at a crypto exchange.