What you’ll learn
- Setting up a mobile wallet
- Understand denominations
- Walk through send function
- Walk through receive function
If you’ve read the previous article you’ll now be familiar with the basic concepts for safely storing cryptocurrency, and how a crypto wallet helps you do that.
You’ll also understand some of things that differentiate wallet types – the meaning of custody – which can be summarised in the following table:
| Wallet Type | Soft/Hard | Custodial/Non-Custodial | Hot/Cold | Suitable For |
| Mobile | Soft | Can be either | Hot | Beginner |
| Web | Soft | Custodial | Hot | Beginner |
| Desktop | Soft | Non-Custodial | Hot | More Experienced |
| Paper | Hard | Non-Custodial | Cold | More Experienced |
| Hard/USB | Hard | Non-Custodial | Cold | More Experienced |
You’ll see the column indicating the level of experience each wallet type is suitable for. Given you are at the Beginner level for How To Use Cryptocurrency, we’re going to choose a Mobile Wallet to run through the following:
- Setting up your first crypto wallet
- Sending & receiving crypto
- Understanding your balance
In the next article you’ll learn how to set up a web wallet through an Exchange an essential step in the process of buying cryptocurrency (covered in the fourth article in this section)..
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