What is a crypto wallet?

Cryptocurrency wallets don’t actually store cryptocurrency. Cryptocurrency wallet provides access to your cryptocurrency, that is stored in a blockchain. Crypto wallets also support transfers.

There are two main keys associated with the wallet:

  • private

  • public

Private key is a sequence of random characters. Never ever share the private key with anybody. Keep it in a safe place. Private key allows you to access your wallet.

Public key is like a bank account number, you use it to send and receive cryptocurrency.

There are two main types of crypto wallets:

  • Hot wallets (software)

  • Cold wallets (physical)

Cold wallets:

  • Offline wallets. Can be a hardware wallet, paper wallet.

  • Reduced probability of the online hacker attack

  • Not so convenient to use on a daily basis

Hot wallets:

  • Supported by TheCurated.app

  • Online wallets, connected to the internet. Can be a mobile app, browser extension, desktop app.

  • Can be a target for an online hacker attack.

  • Easy to use on a daily basis

Last updated