Hosted wallets
The hosted wallet is the easiest to set up. When you buy crypto using an app like Coinbase, your crypto is automatically held in a hosted wallet, where a third party keeps your crypto for you. The main benefit is that you won't lose your crypto if you forget your password. However, a hosted wallet can't access everything crypto can offer.
How to set up a hosted wallet:
- Choose a trusted platform, considering security, ease of use, and government and financial regulations.
- Create your account. You can buy crypto using a bank account or credit card.
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