Crypto wallets: types, security and how to choose
In short
A crypto wallet does not hold coins. It holds the keys that let you send them. A hot wallet is connected to the internet and handy for everyday use. A cold wallet stays offline and suits long-term holding. Never share your recovery phrase with anyone.
Hot or cold
The main difference is the internet connection:
- Hot wallet: an app or browser extension. Convenient for deposits and withdrawals, more exposed to malware.
- Cold wallet: a dedicated device or paper, kept offline. Safer for holding, less convenient for frequent use.
Private key and recovery phrase
Whoever holds the private key controls the coins. The recovery phrase, a list of words, can restore the wallet, so it is as powerful as the key. Write it on paper, keep it somewhere safe, and never photograph it or send it to anyone. Genuine customer support will never ask for it.
How to choose
If you use crypto often for deposits and withdrawals, a hot wallet is fine for small amounts. Keep larger amounts in a cold wallet. Only download wallet apps from the maker's official website or app store.
Your wallet and a betting site
When you withdraw winnings from Ashbet to a crypto wallet, you enter your own wallet address. Check it twice, and choose a network your wallet supports.
Frequently asked questions
What is a crypto wallet?
A tool that holds the keys you need to send and receive digital currencies.
What is the difference between a hot and a cold wallet?
A hot wallet is online and easy to use. A cold wallet is offline and safer for long-term holding.
What is a recovery phrase?
A list of words that can restore your wallet. Whoever has it controls the coins, so never share it.
Can I withdraw from Ashbet to a crypto wallet?
Yes. You can request a withdrawal to your own crypto wallet or to the Ashbet prepaid card.
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These guides are general information, not financial or legal advice. Gambling is for adults aged 21 and over only, subject to the law and availability where you live. Please gamble responsibly.