These wallets store your private key on your mobile phone. I actually consider these wallets to be the least secure of all wallets. As phones are frequently lost, broken, or stolen, it’s strongly advised that you enable two-factor authentication, password-protect your wallet, and create a private key backup. Software Wallets (also referred to as hot wallets/storage given their ready connectivity to the internet) have keys stored in an app or other software. These wallets can be accessed through
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