A blockchain wallet best described as that leather-bound fold-over pouch you store your cash, credit cards and photo of your first supercar (that you are going to buy when your bitcoin goes to $200k each).
The blockchain. The new database of the future and platform that Cryptocurrencies reside in requires a wallet to exchange, utilize and redeem. This is similar to your physical wallet in that it stores the information you need to access your money (in this case tokens or coins). It operates like that wallet in your back pocket, only in the data world.
If you’re looking for the best way to upload CASH or FIAT into Cryptocurrency, we recommend using the blockchain wallet with COINBASE (we suggest you set up an account–it’s the best way to learn more). You get $10 in BTC just for joining.
From there, there are several other wallets, all of which serve different purposes and have different resources within the blockchain, cryptocurrency and the growing digital future.
blockchain wallet
Coinbase is now offering Staked Coins, and the option to “Stake” or hold your coins for gains. You agree to lock them, where you “STAKE THEM” meaning you will not sell or transfer them. STAKED so they hold the value of the COIN itself. For doing so, you get a APY or Annual Percentage Yield as you would with a Bond or Savings Account. These are ranging from 0.01 to sometimes 25% or more.
Staked coins can gain in value in the form of additional coins as they are staking. This is similar to a Certificate of Deposit (CD) or a bank bond. It is used to create and leverage the creation of additional crypto coins.
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