Wallets

Wallets are divided into "hot" and "cold." Hot wallets (online, mobile, exchange) are convenient but more vulnerable to hacking. Cold wallets (hardware or paper) are not connected to the internet and provide maximum security. GroshX does not store users' cryptocurrency, but sends it directly to the specified wallet, which eliminates the risk of losing funds through the service.

A private key is a unique code that grants full access to your crypto assets. It must be stored offline: on paper, in a hardware wallet, or on another secure medium. It should not be photographed, sent online, or stored in cloud services.

It is the public part of a cryptographic key pair that can be freely shared with other users to receive transfers. It does not grant access to manage assets but serves only as an address for receiving transactions.

If someone obtains your private key, they will have full control over your wallet and all the funds in it. The blockchain does not allow transactions to be reversed or access to be restored. Therefore, sharing your private key with third parties is the greatest threat to cryptocurrency security.

Popular Wise alternatives often mentioned include Payoneer, Revolut, PayPal, Skrill, and SWIFT bank transfers. Each service has its own specifics regarding fees, speed, and currency support. Some also use crypto exchanges to work with cryptocurrency, including GroshX, if they need a quick exchange of digital assets.