There’s a lot of talk about Web3 and how big changes are to be expected with the future of the Internet. Here we take a look at digital wallets specifically and how the Web3 wallet is primed to position you for the next stage in cryptocurrency’s evolution.
What’s A Crypto Wallet?
To fully understand the Web3 crypto wallet, it’s necessary to have an understanding of what a crypto wallet is. In its basic form, a crypto wallet is a technology that allows you to store cryptocurrencies and digital assets with minimal security risks. For those who are holding their crypto as long term investments—such as with Bitcoin—cold storage wallets are often used, which means the wallets are password protected, double-authenticated, and not accessible without a unique key password. The fortified protection is great if you don’t need regular access to your wallet and you’re looking to keep your wallet offline. Regardless if you’re using your wallet as cold storage or for more active trading and transactions, crypto wallets are generally safer bets for storing your digital assets than in your account on crypto exchange websites.
The next step to understanding a Web3 crypto wallet is to have a general understanding of Web3. Web3 simply means the future of the Internet, and as we exit Web2 to the next phase of the digital future, many advancements are expected to be on the horizon. Among them are a larger focus on decentralized tools and technologies, and a push for users to own and control their own data—all of which will have fantastic implications on the next wave of digital wallets. So while the more “primitive” Web2 wallets will continue to act as a safe place to store your digital currencies, look for Web3 to improve upon the existing model and offer a variety of additional benefits.
The Web3 Wallet
With Web3 crypto wallets, there’s expected to be an easier method to manage all of your digital assets in one place. From NFTs to different coins to different currencies, Web3 wallets will provide a home for different types of digital assets, whereas the Web2 wallet typically only hosts one. The Web3 wallets are also expected to be primed for access to various blockchains and exchanges. This is a huge upgrade since many exchanges only allow their own wallets to be used for holding a specific type of currency. When it comes to Web3 wallets, you won’t have to manage multiple wallets, and can instead enjoy the convenience of having one wallet for everything crypto. The Web3 wallet might also be used as an authentication tool for gaining access to other applications.
How To Get A Web3 Wallet
While there are many Web3 crypto wallet options, there are currently 5 Web3 wallets to explore that are the most popular. While more Web3 wallets are expected in the future, the following offer you easy access to the Web3 wallet future:
- Trust Wallet
- Coinbase Wallet
All of the abovementioned Web3 wallets are fairly similar, with differences in easy of use and how they incorporate their mobile app with their website functionality. If you’re interested in a Web3 crypto wallet, check them out and choose a wallet that feels the best for you and your digital asset needs.
For another cool future-looking player in the world of cryptocurrency, check out EtherumMax.
Starting Your Portfolio With EthereumMax
EthereumMax is a decentralized cryptocurrency that gives holders control of their digital assets without the need for an intermediary. EMAX Tokenomics remain 0% tax on buys, with a 6% tax on sells and transfers. From the 6% tax, 3% will remain in the treasury and 3% will manually be burned every other week. Check out https://ethereummax.org for more information on why EthereumMax is quickly becoming one of the most robust tokens in the crypto ecosystem and set up your EMAX wallet to start your cryptocurrency journey today.