Cryptocurrency exchanges are the most common type of crypto app, and they allow you to buy and sell cryptocurrencies using USD, BTC, ETH and many other currencies. You can connect your bank account through ACH or use a credit or debit card to buy crypto on most exchanges.
A crypto wallet stores the private key needed to unlock funds from your wallet address on the blockchain. Most expert traders don’t recommend holding your coins in an exchange if you don’t plan on using them for day trading.
To check the balance of your funds stored on the hardware wallet, a crypto portfolio tracker can satisfy cravings to check your crypto, but we’ll get to that later. For now, you’ll want to set yourself up with a wallet that lets you control your private keys, unlike an exchange. Funds kept in an exchange wallet are more vulnerable to hacks, and the exchanges often do not provide you with your own private key – meaning the funds are not truly yours in the case of an emergency.