A wallet is essential for interacting with DeFi platforms like Sushi. To get a wallet, choose a provider and follow their setup instructions. There are two main types of wallets:
Custodial Wallets:
These wallets are managed by a third party, such as a cryptocurrency exchange. The third party controls the wallet's private keys. Examples of custodial wallets include those offered by exchanges like Coinbase, Binance, and Kraken. While they are user-friendly and often provide additional services like trading and asset management, they pose a risk as you don't have full control over your funds.
Non-Custodial Wallets:
These wallets give you complete control over your private keys and, consequently, your funds. Examples include MetaMask, Ledger, and Trust Wallet. Non-custodial wallets are preferred for enhanced security and autonomy.
These are online wallets like MetaMask, Argent, and Trust Wallet - convenient for frequent use but less secure than cold wallets due to their internet connectivity.
These are physical devices like Ledger or Trezor, offering higher security for storing cryptocurrencies offline, thus reducing the risk of online threats.
A wallet is essential for interacting with DeFi platforms like Sushi. To get a wallet, choose a provider and follow their setup instructions. There are two main types of wallets:
Custodial Wallets:
These wallets are managed by a third party, such as a cryptocurrency exchange. The third party controls the wallet's private keys. Examples of custodial wallets include those offered by exchanges like Coinbase, Binance, and Kraken. While they are user-friendly and often provide additional services like trading and asset management, they pose a risk as you don't have full control over your funds.
Non-Custodial Wallets:
These wallets give you complete control over your private keys and, consequently, your funds. Examples include MetaMask, Ledger, and Trust Wallet. Non-custodial wallets are preferred for enhanced security and autonomy.
These are online wallets like MetaMask, Argent, and Trust Wallet - convenient for frequent use but less secure than cold wallets due to their internet connectivity.
These are physical devices like Ledger or Trezor, offering higher security for storing cryptocurrencies offline, thus reducing the risk of online threats.