What is a blockchain wallet? That is a great question for starters. Wallets come in different styles and colors, depending on our tastes. Wallets are made from leather (or other material). Also, We use these for our cash, credit cards, and photos, just to name a few. Blockchain is a platform in which Cryptocurrencies operate. It is the future of the new database. However, this information is relatively new to most of us. We need a wallet to be able to participate in the offerings involved with cryptocurrencies. And with today’s technology, everything is virtual and in the data-world blockchain is very much like your wallet.
If you want to learn the best way to upload CASH or FIAT into Cryptocurrency, We use the blockchain wallet with COINBASE (we suggest you set it up – its the best way to learn more. Also, there is a bonus of $10 in BTC just for joining).
Also, there are several other wallets – all with set purposes and resource within the blockchain, cryptocurrency, and the growing digital future for all of us.
Coinbase:
Coinbase is now offering Staked Coins, and the option to “Stake” or hold your coins for gains. The agreement is to lock them, where you “STAKE THEM”. They cannot be sold or transferred. To be able to hold the value of the coin, they have to be STAKED. For doing so, you get an APY or Annual Percentage Yield, the same with a Bond or Savings Account. Those supported within Coinbase generally have proven to be safer. However, there is always risk involved with investments and that includes staking.
To gain in rewards, coins have to be staked. And, usually in additional coins as the staking is occurring. Similar to a bank bond or Certificate of Deposit. Used to create and leverage the creation of additional Crypto Coins.