Wallet

Application or device that allows you to store and manage private keys to send and receive cryptocurrency.

What is it? - Dummies

It's like a regular wallet, but for digital money. Save your “keys” so you can use and control your cryptocurrencies

What is it? - PRO

A wallet is software or hardware that stores private and public cryptographic keys to sign transactions on the blockchain.

It facilitates the secure management of digital assets, allowing control of the ownership and transfers of tokens or cryptocurrencies

Key points

  • It stores private keys (never the keys themselves).
  • It can be hot (online) or cold (offline).
  • It supports multiple cryptocurrencies and tokens.
  • It usually includes backup and recovery functions.
  • Sales and disadvantages

  • Advantages:
    • Full control over funds.
    • Advanced security in cold wallets.
    • Facilitates interaction with dApps.
  • Disadvantages:
    • Loss of private key = total loss of funds.
    • Risk of hacking on hot wallets.
    • Learning curve for new users.
  • Related Concepts

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