Understanding Different Cryptocurrency Wallet Types
A cryptocurrency wallet is a software program that enables crypto users to buy, sell and store cryptocurrencies. In simple terms, we can compare it with a physical wallet, which stores fiat currencies. However, unlike conventional wallets, it does not store cryptocurrencies. Instead, it holds records of all cryptocurrency transactions on the blockchain network. It uses the concept of public and private keys to enable transactions on the blockchain network.
In this blog post, we have discussed the types of cryptocurrency wallets, their features, and advantages.