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@ -15,26 +15,22 @@ As the name suggests, a crypto wallet is a type of digital wallet that stores cr
Unlike traditional pocket wallets, digital wallets do not actually store the currency. For example, your bank app or website does not store the money. It just shows what is recorded on the bank’s servers. The difference for a cryptocurrency is that the record of your transactions are written onto the blockchain, so everyone who is a part of the blockchain has access to these transaction records. A crypto wallet is a software program that interacts with these various blockchains to show the final recorded amount so the wallet owners can monitor their balance, and send/receive cryptos.
### What are the different types of wallets?
Just as wallets come in various shapes and sizes in the real world, several types of crypto-wallets are available, offering different ways of storing your cryptocurrencies. Each type has its own strengths and weaknesses.
<!-- prettier-ignore-start -->
| Type of Wallet | Strengths | Weaknesses
| --- | --- | --- |
| Desktop/mobile | These are downloaded and stored on the desktop or mobile device and can only be accessed through this one device so it&#39;s highly secure. Mobile wallets have the additional benefit of being portable | If the computer/phone is hacked or gets a virus, there's a possibility that your funds could be lost forever. Mobile wallets are also restricted by limited space so tend to be smaller.
| [Hardware](#hardware-wallets) | The private keys are stored on a physical device such as a USB stick. Hardware wallets have the ability to make transactions online, but are very secure because they are stored offline. | If you lose your hardware wallet and its associated seed phrase, all your funds are lost. So this may not be the best option for careless folks!
| [Software](#software-wallets) | These are cloud-based wallets that are accessible over the internet. They are the most convenient to access, and are currently the most popular way to store cryptos. | Since online wallets are controlled by third parties, this centralization leads to a greater risk of your private keys being stolen through hacking. | |
| Paper | A physical copy or printout of your public and private keys. Highly secure, portable and easy to store. These can come in the form of printing out hexa numbers or via a QR code. | Similar weaknesses to a hardware wallet, that if you loose the keys, then you don&#39;t have any access.
<!-- prettier-ignore-end -->
This article isn't a deep-dive, but is just a primer into how wallets work. For a more in-depth understanding, you can [check out this article](https://blockgeeks.com/guides/cryptocurrency-wallet-guide/).
## Wallet Options
Ocean Tokens are [ERC-20 tokens](https://en.wikipedia.org/wiki/ERC-20), so any wallet that supports arbitrary ERC-20 tokens should work to hold Ocean Tokens. ERC-20 tokens are Ethereum-compatible standard tokens.
There are many kinds of wallets (such as paper wallets, hardware wallets, software wallets, custodial wallets), and each of these has its own advantages and disadvantages. We encourage you to search around and read about wallets to understand your options.
Just as wallets come in various shapes and sizes in the real world, several types of crypto-wallets are available, offering different ways of storing your cryptocurrencies. Each type has its own strengths and weaknesses.
<!-- prettier-ignore-start -->
| Type | Strengths | Weaknesses
| --- | --- | --- |
| **[Software](#software-wallets)** | These are downloaded and stored on the desktop or mobile device and can only be accessed through this one device so it&#39;s highly secure. Mobile wallets have the additional benefit of being portable | If the computer/phone is hacked or gets a virus, there's a possibility that your funds could be lost forever. Mobile wallets are also restricted by limited space so tend to be smaller.
| **[Hardware](#hardware-wallets)** | The private keys are stored on a physical device such as a USB stick. Hardware wallets have the ability to make transactions online, but are very secure because they are stored offline. | If you lose your hardware wallet and its associated seed phrase, all your funds are lost. So this may not be the best option for careless folks!
| **Online** | These are cloud-based wallets that are accessible over the internet. They are the most convenient to access, and are currently the most popular way to store cryptos. | Since online wallets are controlled by third parties, this centralization leads to a greater risk of your private keys being stolen through hacking. | |
| **Paper** | A physical copy or printout of your public and private keys. Highly secure, portable and easy to store. These can come in the form of printing out hexa numbers or via a QR code. | Similar weaknesses to a hardware wallet, that if you loose the keys, then you don&#39;t have any access.
<!-- prettier-ignore-end -->
We encourage you to search around and read about wallets to understand your options. This article isn't a deep-dive, but is just a primer into how wallets work. For a more in-depth understanding, you can [check out this article](https://blockgeeks.com/guides/cryptocurrency-wallet-guide/).
## Software Wallets
@ -88,10 +84,10 @@ Some other software wallets which _might_ work with Ocean Tokens are:
Two of the most popular options are [Trezor](https://trezor.io/) and [Ledger](https://www.ledger.com/).
Here is the tutorial for setting up both. **Please note** that hardware wallet tutorials mentioned are general purpose for all ERC-20 tokens, and not specific to Ocean.
Here are tutorials for setting up both. Please note that these hardware wallet tutorials are general purpose for all ERC-20 tokens, and not specific to Ocean.
1. [Trezor](https://wiki.trezor.io/User_manual)
2. [Ledger](https://coinsutra.com/edger-nano-s-setup-guide/)
1. [Trezor User Manual](https://wiki.trezor.io/User_manual)
2. [Setting Up The Ledger Nano S: A Beginner’s Guide](https://coinsutra.com/edger-nano-s-setup-guide/)
## Terminology