Help CenterTEXITcoin has developed its own hot wallet that exclusively supports TXC. It gives you the ability to send and receive TXC, see transaction history, and also monitor the “watch only” value of TXC on your Cold Storage Coin. Further, when you’re ready, it will quickly import the TXC from your Cold Storage Coin, which you will do preferably when you’re ready to “cash out” and monetize the bulk of your TXC.
You can even have multiple TXC hot wallets - each one will have a unique address and backup recovery phrase.
Remember - using a hot wallet opens you up for the first time to the world of “digital risk”, meaning that a hacker, error or lost password could render all of your crypto completely unusable or even stolen. You’ll need to use a hot wallet sooner or later, but take your time and become comfortable with backing up, sending and receiving before you engage large amounts of crypto.
Remember the following precautions:
- Digital Risks: The TXC Wallet introduces more complexity. If you fail to back up your seed phrase and lose your phone, your TXC will be lost forever.
- Hot Wallet Caution: Sending TXC from your wallet requires care. Sending funds to the wrong address could make them unrecoverable.
- Exciting Possibilities: While the cold storage coin is secure and straightforward (perfect for those who prefer a “set-it-and-forget-it” approach), the TXC Wallet gives you the flexibility to import your TXC later for transactions, trading, or spending.
Check out the Do's & Don'ts of sending crypto: