Crypto wallet meaning

crypto wallet meaning

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What is a Cryptocurrency Wallet? (3 Types + Key Examples)
As mentioned earlier, a wallet doesn't technically hold a user's coins. Instead, it holds the key to their coins, which are stored on public blockchain networks. A crypto wallet stores the public and private keys necessary to send, receive and store cryptocurrency. When you buy cryptocurrency, the company. A crypto wallet may be hardware, software, Web-based, or paper; it provides access to crypto assets. Cryptocurrency wallets can be hot or cold, meaning online.
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Custodial wallets are hosted by a third party that stores your keys for you. Mastering Bitcoin: Programming the Open Blockchain. A cold wallet refers to a physical device, such as a pen drive, that is utilized as a secure storage medium for transferring money from a hot wallet. Some software wallets also include additional functionality, such as exchange integration if you're using a wallet designed by a cryptocurrency exchange. Retrieved 14 September