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14. Wallet Uncategorized

Intro

As we have already discussed, Bitcoin is a virtual currency made up of 0s and 1s. They are collected and stored in a software portfolio called a wallet. A wallet identifies amount of cryptocurrency with unique addresses that are used to send and receive money.

A cryptocurrency wallet is a digital wallet that is used to store and transact in different cryptocurrencies. The crypto wallet doesn’t exactly “store” the currency as real-world wallets do. Instead, it stores public and private keys which help in sending and receiving money. Bitcoin owners save bitcoins in either an online wallet or a paper wallet which are similar to a physical wallet. Wallet holds keys to each bitcoin, securing them and preventing any fraud.

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