Ldapwiki: Cryptocurrency wallet

Overview#

Cryptocurrency wallet is a Data Store for your Public Address and Private Keys which can be used to receive or spend a cryptocurrency and may contain multiple Public Addresses and private key pairs.

SHARE: Add funds to a Cryptocurrency wallet by sending cryptocurrency to your Public Address.
NEVER SHARE: important to make a backup copy of the Private Key and store it in a safe location.

Cryptocurrency wallet is used to store the Credentials used to be able to make cryptocurrency transactions as, typically, the cryptocurrency is on and inseparable from the underlying blockchain or other Distributed Ledger Technology

Cryptocurrency wallet allows you access to your Private Key, which makes it possible to digitally sign a transaction and write it underlying blockchain or other Distributed Ledger Technology, effectively spending or transfering the associated cryptocurrency.

Sharing your Private Key like giving them full access to your bank account.

There are many types pf Cryptocurrency wallets:

Custodial Wallet - is a Cryptocurrency wallet in which your Private Key are stored by a Third-party (a Custodian)
Web Wallet - is either Custodial Wallet or not but is hosted by a third-party
Hardware Wallet - is a Hardware Security Module / Hardware-secured key Cryptocurrency wallet
Paper Wallet - are a piece of paper with a Public Address and the Private Keys printed on them.

Cryptocurrency wallets may be run locally or as Software as a Service where the Cryptocurrency wallet Service Provider "hosts" the wallet.

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