It is time for another opportunity for us to learn when it comes to the cryptocurrency ecosystem and the blockchain at large. Remembered that I have said it time without numbers that when it comes to the cryptocurrency ecosystem I will be educating everybody that comes in contact with my post. This is not to showcase to the world that I knows it all but it is simply and avenue to give back to the cryptocurrency ecosystem. We all should knows that simply because I am the one coming with this post does not means that I knows it all, you guys should from today knows that I am free to be educated also. The moment you see that I blog about something and I am not that right about what I am saying, please don't hesitate to reach out to me and get me corrected. Once again I am open to correction. We all should knows that we are all here educating ourself,.there is nobody out here that knows it all, this is cryptocurrency and it ecosystem, we don't claim we knows it all and with that, we are here to keep working as a community by simply assisting each other in whatsoever way that we can. This is just the beauty of the cryptocurrency ecosystem and the blockchain that we are into. We are all connected together as one and that is one thing that everybody out there should be happy about. We all knows that when love is spread out easily in an ecosystem or community, such community hardly fails or falls. As for me, let me say this to everyone out there, I am here to make sure that when it comes to the cryptocurrency ecosystem, love, happiness shall not cease to exist during my time. I will give my best and urges everyone to do so during my time. As for me, I will make sure that the love that we are spreading shall not fall during our time.
Understanding what wallet is and it importance in the cryptocurrency ecosystem
Mind you, there is nothing that you can do if you don't have a cryptocurrency wallet in the cryptocurrency ecosystem. It is just like saying that you went to a bank and you don't have an account in such bank. If you are not going there to open an account there there is no need going there. Without much talk you should knows that you don't belong there. It is just like going to a place where you are not invited, you definitely know's that your services are not needed there but still yet, you went there. If you are lucky you might be attended to politely, but most times the outcomes is something that you won't in any way love. This is just the bad part of such of doing such thing. The humiliation might be something that will demoralise you emotionally in all ways and it might impact your reputation badly. Mind you, it might be something that will destroy your reputation to the last.
As per what is wallet, it is just like saying a bank account and what is inside your bank account which might be your different currencies like dollar, pounds, Euro, Yarn, etc. Now cryptocurrency wallet on it own is the wallet that helps to secure your cryptocurrencies. As for your information, what is inside the cryptocurrency wallet can be your different cryptocurrency token/coins like Bitcoin, Ethereum, Hive, Monero, Ltc, Aptos, Sei, Sui, BNB, Polygon, Arbitrum, Pi, Omega, scroll, Base, Linea Optimism, Okx, Fantom, Avalanche, Ethereum Pow, planton, Cronos, Celo, Gnosis chain etc.
As per for the sake of this post I won't be going that deep. Despite that, you should knows that we have a decentralized cryptocurrency wallet and a centralized wallet. During the decentralized wallet you have the control over your wallet but as for the centralized wallet you should knows that your wallet is controlled by a third wallet. One thing that we should know, note and understand is that both cryptocurrency wallet you shall be needing them, but the one you should be giving top attention to is the decentralized wallet since you are the one that is controlling it. The moment you will be needing a centralized wallet is when you want to swap some tokens that are not on decentralized exchange like Uniswap and co. The moment you make use of them and finish your conversion, send your tokens to your decentralized wallet.
I will end the post here, have a nice day.
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