Crypto Wallets

The crypto market has crossed $1 trillion in value. Participating in this new asset class and market means having a cryptocurrency wallet. A crypto wallet is a program in which digital assets and tokens are stored, though technically, cryptocurrencies are not stored anywhere. Crypto wallets keep the investor’s private keys–the passwords that give you safe access to the cryptocurrencies so that you can send and receive them. The wallet generates a public key from the private key (password). There are many types of crypto wallets; each with different features and corresponding uses and risks. Here’s a look at what they are and how they function: How Do Crypto Wallets Work? Digital wallets do not actually store currency like traditional wallets, which means that digital currencies don’t exist anywhere in a physical form; what exists are records of transactions,...