Wallet – Often my blog is also about finance, wealth building and newer financial trends like cryptocurrency, but also NFT (digital art). The term “wallet” has come up more often now and so I wanted to write this little extra page for a quick explanation.
Wallet for cryptocurrency, NFT & Co.
Wallet means “digital wallet”. We store your digital money (cryptocurrency), but also your purchased NFTs.
Instead of many sentences, simply explained in bullet points (with technical terms):
- Cryptocurrency = digital currency
- Ethereum (cryptocurrency/blockchain) = very frequently used currency on marketplaces
- Wallet = purse (also NFT storage place)
Wallet apps: popular and good providers
Again, there are various providers for this.
- Coinbase Wallet
Buy and sell crypotocurrency
“Fast money with cryptocurrencies”, the world is not that simple! Nevertheless, with the right trading strategies, returns can be achieved with cryptocurrencies, as with shares, but with higher risk (no tangible asset). But how does crypto trading work? Are there differences in trading and risk? Stocks are more speculative than ETFs, cryptocurrency is more speculative than stock trading. So, safe wealth accumulation means rather investing in ETFs or stocks. Speculation means higher risk, but at the same time potentially higher profits. What is more important to you, you have to decide as a trader yourself. This is a comprehensive insight for you into crypto trading, with many more links to other crypto topics from me. Good luck with your learning! Buy, invest, hold and sell: Crypto Trading.
Buy and sell NFT
NFT means “digital art.” To ensure that digital objects have a documented history, NFTs use blockchain technology. It documents all transactions, from the moment of publication. This makes digital objects assessable for the first time, like physical art.
As with physical art, it’s all about the artist behind the projects. The more you know, the more you can survey the market of tens of millions of works. Even individual collections sometimes contain 1,000 or 10,000 individual digital images or content.
First of all, for those who don’t yet know what an NFT is, here’s a quick explanation.
- NFT: Meaning
- Buy NFT – coming soon!