09-02-2020, 06:24 AM
Millions of people use cryptocurrency wallets, but there is a significant misunderstanding of how they work. Unlike traditional "pocket" wallets, digital wallets do not store currency. In fact, currencies are not stored in any one place or exist anywhere in any physical form. All that exists is a transaction record stored in the blockchain.
Cryptocurrency wallets are programs that store your public and private keys and interact with various blockchains so that users can control their balance, send money, and perform other operations. When a person sends you bitcoins or any other digital currency, they are essentially signing ownership of the coins to your wallet address.
Cryptocurrency wallets are programs that store your public and private keys and interact with various blockchains so that users can control their balance, send money, and perform other operations. When a person sends you bitcoins or any other digital currency, they are essentially signing ownership of the coins to your wallet address.