Post
Topic
Board Altcoin Discussion
Re: What are the advantages of crypto wallet versus a physical wallet?
by
Jackl87
on 20/08/2021, 10:53:52 UTC
Come to think of it, there are so many advantages of having a crypto wallet versus a physical wallet. You can carry your crypto wallet anywhere as long as you have your phone with you and you will be able to use your funds there just the same way you do with the physical wallet carrying cash on it. If you carry more than $10k at the airport, you have to declare it with customs. You don't have to do that with a crypto wallet.

The wallet of coins cannot be confiscated by a court for debts, alimony, etc. The law has a “blind spot” here.

Can you add some more please?

I would say that crypto wallet also has it's downsides. You need to be very careful with your data or all your funds can be lost. Just imagine you lose your Phone and some IT savvy dude finds it and then somehow manages to access your crypto wallet, you would lose all of your funds then because i would guess most people have all of their wallets connected to their phone which means all of your crypto value could be gone at once. In contrast to that you only have a relatively small amount of cash in your wallet which you need for your daily life.