Everything you must know about Crypto Wallets

Cryptocurrencies that exist as digital valuables need to be stored somewhere. Interestingly, they cannot be stored, but accessed with the help of software called crypto wallets. These wallets facilitate transaction of cryptocurrencies between users.

What are crypto wallets and how do they work?

Crypto wallets, unlike physical ones, do not store currency, but instead store unique private and public keys corresponding to the wallet address. Here’s how private and public keys work. When someone sends you cryptocurrency, they are essentially assigning the coins to your wallet’s address – this is the public key.