However, if you’d like a more secure option, you can look for a crypto wallet. Technically, any cryptocurrency you leave in a cryptocurrency exchange will be held in a type of wallet, and experts say it’s OK for people to leave it on the exchange, especially those with smaller investments. This is also called your “wallet address.” Your private key is like your bank password, and how you access your account to move around or do other things with your crypto.
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A wallet will come with two important pieces of information: a public and private key.Ī public key is how you send and receive money to your account - like a bank account number. When you buy your Bitcoin, Ethereum, or other crypto, you’ll have the option to leave it sitting in the exchange where you bought it, or you can move it into another sort of storage system called a cryptocurrency wallet.Ĭryptocurrency wallets can offer more protection for investors. You can’t buy cryptocurrency in a traditional brokerage account like Fidelity or Vanguard, so you’ll have to use a cryptocurrency exchange like Gemini or Coinbase. Crypto investments should also never get in the way of other financial priorities like saving for emergencies, paying off high-interest debt, and saving for retirement using more conventional investment strategies. Crypto prices fluctuate wildly by the day, and experts also say you’d be smart not to invest more than you’d be OK losing if the market dropped out altogether.
![blockchain wallet address blockchain wallet address](https://support.bitpay.com/hc/article_attachments/360052237212/image6.png)
Experts say it’s smart to keep your crypto investments under 5% of your overall portfolio.