What is a decentralized wallet?
Decentralized Wallet is a core tool in the blockchain ecosystem. Users can fully control their private keys and assets through it without relying on third-party institutions.
Classification
Classification by storage method
Hot wallet
Features: Use online, convenient but less secure Applicable scenarios: daily transactions, small storage Common forms: Web wallet (such as MetaMask browser plug-in) Mobile wallet (such as Trust Wallet, imToken) Desktop wallet (such as Electrum) Cold wallet
Features: Offline storage of private keys, high security Applicable scenarios: Long-term storage of large assets Common forms: Hardware wallet (such as Ledger, Trezor) Paper wallet (print private keys on paper) Mnemonic steel plate (such as Cryptosteel)
Classification by technical architecture
Hierarchical deterministic wallet
Features: Unlimited sub-addresses derived from mnemonics Advantages: Back up once to manage all addresses Representative products: MetaMask, Ledger (support BIP39/BIP44 protocol)
Multi-signature wallet
Features: Multiple private keys are required to jointly authorize transactions Advantages: prevent single point failure, suitable for team asset management Representative solutions: Gnosis Safe Bitcoin's 2-of-3 multi-signature
Smart contract wallet
Features: manage assets through on-chain contracts Advantages: support advanced features such as social recovery and transaction restrictions Representative projects: Ethereum's Argent StarkNet's Braavos
Classification by chain support range
| Type | Features | Representative products |
|---|---|---|
| Single-chain wallet | Only supports one blockchain | Bitcoin Core |
| Multi-chain wallet | Supports multiple chains but needs to be managed separately | Exodus |
| Full-chain wallet | Manage multi-chain assets through a unified interface | Rabby, OKX Wallet |
Selection suggestions
Ordinary users: MetaMask (hot wallet) + Ledger (cold wallet) combination
High-frequency traders: Rabby and other full-chain wallets + Hardware wallet authorization
Institutional users: Gnosis Safe multi-signature + MPC solution
Safety precautions
Always back up your mnemonics (offline storage)
Buy official hardware wallets
Be wary of phishing websites (verify contract addresses)
Test small amounts before transferring large amounts
The core value of decentralized wallets is "Not your keys, not your coins". When choosing, you need to weigh convenience and security.