Cryptocurrency Wallets

A cryptocurrency wallet is a digital wallet that is used to store, send, and receive cryptocurrencies. Cryptocurrency wallets come in many forms, including software wallets that run on a computer or mobile device, hardware wallets that are physical devices, and web wallets that are hosted on a website.

When you set up a cryptocurrency wallet, you are given a public key and a private key. The public key is a unique address that you can share with others to receive cryptocurrency payments. The private key is a secret code that you use to access your cryptocurrency and sign transactions.

When you receive cryptocurrency payments, they are recorded on the blockchain, which is a distributed ledger that records all transactions on the network. Your cryptocurrency wallet does not actually store the cryptocurrency itself, but rather it stores the private keys that allow you to access and control your cryptocurrency on the blockchain.

When you want to send cryptocurrency from your wallet, you need to enter the recipient's public key and the amount you want to send. The transaction is then signed with your private key and broadcast to the network, where it is verified by other nodes on the network and added to the blockchain.