Types Of Blockchain Wallets Training Ppt

Slide 1

The slide describes that a blockchain wallet is a type of cryptocurrency wallet that allows users to manage many cryptocurrencies, such as Bitcoin or Ethereum. A blockchain wallet facilitates the exchange of funds, and because transactions are cryptographically signed, their safety is ensured.

Slide 2

The slide states that a blockchain wallet has a public key and a private key. Like the email address, the public key is shared with everyone, and the private key is identical to your password that should be hidden. 

Slide 3

The slide lists features of cryptocurrency wallets. It is simple to use, extremely secure; keeps transaction costs low, allows for transfers between several cryptocurrencies, and enables quick transactions across countries.

Slide 4

The slide showcases two kinds of blockchain wallets based on private keys: Hot wallets and cold wallets. Hot wallets are user-friendly and similar to our wallets for everyday transactions, and cold wallets, like vaults, are used to store cryptocurrency safely.

Slide 5

The slide lists that hot wallets are online wallets that allow cryptocurrencies to be moved instantly, whereas cold wallets are digital offline wallets in which transactions are signed offline and then shown online.

Slide 6

The slide showcases types of cryptocurrency wallets, such as software wallets, hardware wallets (which you connect to your USB drive;) and paper wallets (wherein you print your public key and private key on paper and keep these secure).

Slide 7

The slide states that a software wallet is a program downloaded onto a device, which can be a desktop or mobile device, or it can be a web-based wallet that is available online.

Slide 8

The slide describes that desktop wallets are cold wallets that store private keys on cold servers (on your desktop). You can disconnect the wallet from the Internet, conduct offline transactions, and reconnect it. If the primary server fails, a cold server, essentially your PC, is used as a server for backup.

Instructor Notes: 

These wallets can be downloaded on any desktop but can only be accessed from the system on which they are installed, so ensure that the desktop or machine on that you are downloading the desktop wallet is safe (has a backup and is in a safe place) and that you are maintaining the hardware , in general, ensuring that your machine stays secure as it contains financial assets now

Slide 9

The slide documents that online wallets are types of Internet-based hot wallets. Users have the advantage of accessing their wallets from any device. It may be a tablet or a desktop, or even a mobile browser. A third party handles the private keys, which are handled online.

Instructor Notes:

Metamask and Coinbase are examples of online wallets

Slide 10

The slide lists that Mobile wallets are online wallets designed for usage and accessibility exclusively on mobile phones. These wallets provide an easy-to-use interface that allows transactions to be conducted quickly. Mycelium is an example of mobile wallets.

Slide 11

The slide states that a hardware wallet is a cold storage device, similar to a USB drive, that holds the user's private key in a protected hardware device. These wallets resemble portable gadgets that may be linked to a computer (plugged in). As previously stated, they are less vulnerable to malicious cyber attacks and are hack-proof. Some leading hardware wallets in the market are Ledger, Trezor, and KeepKey.

Slide 12

The slide states that a paper wallet that stores cryptocurrency offline. This wallet is a printed piece of paper that includes both your private and public keys, which can be accessed using a QR code. Due to their safety, these are frequently used to hold large amounts of cryptocurrency. Bitcoin Paper Wallet and MyEtherWallet are two popular paper wallets.