MultiversX Tracker is Live!

Friendly Reminder: Your Crypto Never Leave The Blockchain, Wallet Apps Are Just Blockchain Interactors

All Cryptocurrencies

by COINS NEWS 101 Views

Friendly Reminder: Your Crypto Never Leave The Blockchain, Wallet Apps Are Just Blockchain Interactors

This reminder is focused for new people but also can be helpful for old ones too. I know that a lot of you already know this but I think it is necessary to remind that cryptocurrencies always stay in the blockchain and never leave that place.

I came up with this post because a friend of mine always talks about MetaMask, Trust, Trezor, Ledger wallets app like a place where he store his crypto "physically" and this concept is clearly wrong.

Blockchain

Wallets Apps or Blockchain Viewers/Interactors

Wallets apps are just Blockchain Viewers/Interactors that with your seed phrase opens a window to look/interact into/with the blockchain and see/move cryptocurrencies related to that wallet in the Blockchain. This is why it is so important to know that you only need to protect your seed phrase.

If whatever wallet you use is deleted, you just need to find another wallet app that supports the blockchain networks of your cryptos and reload your seed phrase to be able to see and operate with them. There is no need to feel tied to a wallet app.

I hope you learned something new or remember how crypto works in the end.

submitted by /u/kirtash93
[link] [comments]

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments