Wallets are applications that make it easy to store and exchange Ethereum tokens. There are different types of wallets, including desktop, mobile, web, and hardware, each with their pros and cons. Here is the list of wallets that Matcha currently supports.
When you create an Ethereum wallet, a randomly generated string of case-sensitive letters and numbers, referred to as a public address or public key, is associated with the wallet. Similar to an email address, whenever you make a peer-to-peer trade on Matcha, you send and receive your Ethereum tokens from this public address.
Example of a public address:
0xDC25EF3F5B8A186998338A2ADA83795FBA2D695E
Wallets also have a private key and/or a seed phrase, which you can think of as a password required to access the funds in your wallet. Similar to a bank account, wallets allow you to receive and send funds from it. However, unlike a bank account, if you lose access to your wallet, there is no central authority who can help you regain access to it. Always keep your private keys and seed phrases a secret and ensure that you have them safely backed up.
Example of a private key:
3a1076bf45ab87712ad64ccb3b10217737f7faacbf2872e88fdd9a537d8fe266
Example of a seed phrase:
dove lumber quote board young robust kit invite plastic regular skull history
Different types of wallets:
Desktop wallets run on Windows, macOS, and Linux and allow users to interact with their tokens.
Mobile wallets operate the same as desktop ones but run on mobile devices such as smartphones and tablets.
Web wallets are hosted on websites and are accessible on both desktop and mobile devices. They can be most commonly seen as extensions in a browser (e.g. Google Chrome, Firefox, Brave, etc.).
Hardware wallets are the most secure method for accessing your tokens online. A hardware wallet uses a secure physical device to verify your identity.
Note: While Matcha does not currently have direct hardware wallet support, Ledger Nano or Trezor owners have the option of connecting their hardware wallet via MetaMask (instructions here).
If you want to learn more about Ethereum wallets, check out the Ethereum Foundation's page on Wallets.
Additional Resources on Wallets:
1. Connecting to Coinbase Wallet