It’s clear to all — cryptocurrency is here to stay. But with it now becoming more mainstream, so should the usage methods. Fortunately, we’ve put together a breakdown on how you can integrate crypto transactions into your everyday life.

What’s a Crypto Wallet?

In short, a crypto wallet is exactly what it sounds like — a piece of software that holds your cryptocurrency. It works by storing unique ‘keys’ that it uses to communicate with the Blockchain (or similar tech such as Dagchain), enabling you to make transactions and check your balance, just like a brick and mortar bank.

It’s fast, cheap, and comparatively safe compared to traditional methods, and doesn’t store your currency, but instead communicates and makes changes to a centralised digital ledger.

The 5 Types of Wallet:

Desktop: A locally installed application on your computer and your computer alone. One of the safest ways to store your cryptocurrency.

Online: Being cloud-based makes online wallets prone to some security issues.

Mobile: Always in your pocket like a real wallet. The downside? Storage limits.

Hardware: Stored on HDDs, SSDs, USB sticks et al. Pretty good when it comes to safety.

Paper: This method simply involves writing down your unique private and public wallet keys. By far the most secure method provided real-life thieves can’t find it, of course. When a public key is provided to someone paying into your wallet, a check is made against your private key. If the two successfully link up, the transaction is approved. Easy.

DagWallet vs Webwallet

Dagcoin features its own type of wallet – DagWallet. With the user base growing broader and broader, we decided to create an app for every main platform that makes the wallet easily accessible.

Basic functions such as checking your balance are extremely easy, but don’t be alarmed if you open the app on a new device and see a balance of 0 — the currency is stored on a single device meaning you can have multiple split across every phone, tablet, and computer you own.

The other option at your disposal is the Dagcoin Webwallet. Unlike the DagWallet, your Webwallet is cloud-based, providing you with the option of a single, centralised wallet across any device you use to access it.

So which is better? It’s totally up to you! If security is a priority, then DagWallet should be your go-to. Otherwise, a Webwallet allows you to access your funds in a much more traditional way.

Be Part of a Network. Use Merchant Finder

So let’s assume you’ve set up your chosen Dagcoin wallet. What now? With the Dag ecosystem expanding every day, so are the number of merchants who accept Dagcoin payments. For the full list, head to our Merchant Finder.

As always, if you have any questions, shoot us an email or drop a comment below!