All about the desktop wallet and how it works


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When you are about to make your debut in bitcoin trading, you will have to make many decisions. One of the key concerns is to adopt the right trading strategy. This will help you define the right move that will help you trade conveniently Quantum Ai sometime confused with Google Quantum AI is an advanced crypto trading robot.

You would have to select the cryptos you want to trade-in.

Also, the exchange that seems most suitable to you and provides all your preferred cryptos. will be your one-stop solution if you want to skip this part. You cannot miss an opportunity to explore the crypto investment domain and start investing in your future. Follow a simple registration process and start trading.

The right trading strategy is also paramount.

Apart from all these, you would require to select a crypto wallet, and this is one of the essential parts of your crypto journey.

A desktop wallet can be a good idea, but let’s know about a desktop wallet first.

What is a crypto wallet?

Crypto wallets are the space in your gadget or an online space where all your private keys are stored. Crypto wallets have some real advantages, and without them, you cannot take even a step in this field because whenever you have some crypto, you would require to store it somewhere to use.

The idea is just like fiat currency. When you have them, you must store them somewhere.

These crypto wallets have two varieties; hot storage and cold storage. Each of these storage options has positives and downsides.

Desktop wallet

A desktop wallet is the software or app that store your digital currencies. Itruns on your laptop or desktop. The entire thing is between you and the wallet, and no other person or controlling authority is involved with it. However, you still need to make sure that the device is protected with a password and that you are the only person who knows it. Otherwise, anyone knowing your password can access your desktop wallet and transfer all your cryptos to their wallet. So, always be careful.

This actually is a safer option than the exchange wallets. To access the desktop wallet, you can download it on your desktop and follow the instruction to use it. For different operating systems, different versions are available, which makes it easier and more convenient. The best part about a desktop wallet is you can turn it into a cold wallet anytime you want.

Advantages of desktop wallet

Here are the multiple advantages provided by a desktop wallet:

  • Traders who operate from their computers can get easy access to it. Therefore, trading becomes easier.
  • This is not a third-party server and runs on your computer. So, there is no middleman or moderator.
  • When the computer is not connected tothe internet, it becomes really safe.
  • Apart from all these, to turn it into the safest wallet, you just disconnect the web connection. Then, it turns into secured cold storage.

Most traders want a desktop wallet from which they can trade in exchanges in an effortless way.

A small problem with the desktop wallet is that it is less portable when compared to the mobile wallet. There can be found traders who carelessly store a significant amount of their digital assets in the desktop wallet, which is not much recommended. Always put or store the large amount in your cold storage, such as your paper wallet or the hardware wallet.

With all the cryptocurrency wallet options in our hands, we can say that the desktop wallet is quite useful from multiple angles. It is neither highly secured nor completely unsecure. You can use it in an effective way and turn it into both a photo wallet and cold wallet anytime. Hence, the security aspect makes it one of the preferable choice for traders who like to adopt a safe way of trading.

What is more convenient is that there are multiple companies thatcreate desktop wallets for all the different operating systems such as Windows, Mac, Linux, etc. therefore, no matter which one you are using, you will not face any problem while downloading one. All the versions are available there.

Wrapping it up !!!

Here is all information about desktop wallets and how it works. Keeping the functions in mind before using one would definitely be very beneficial. Run through the features of the wallet before using it.

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