These people usually view your public keys as a wallet address - a hashed, or more compressed, version of that public key.īut a private key is like your bank account password or the PIN to your debit card. You can share it with other people or institutions, so they can send money to you or take money from your account when you authorize it. ![]() “Really all you need to transact in crypto is two things: your wallet address, which is also called your public key, and then your private key,” says Nicole DeCicco, founder of CryptoConsultz, a consulting practice for individuals and organizations learning about crypto and blockchain technology.Ī public key is like your bank account number. Like a regular wallet stores physical currency when you’re not using it, a cryptocurrency wallet is a place to store your digital currency. Here’s what you need to know about cryptocurrency wallets, and how to decide which storage option is right for you: What is a Cryptocurrency Wallet? But you can also move them off the platform to a personal crypto wallet, which may be software connected to the Internet (a hot wallet) or a completely offline device (cold storage). When you buy digital currency on a trading platform, or exchange, you may have the option to leave the “keys” to your coins within the account - that’s one form of storage. Just like you need a wallet to protect your cash and credit cards, you should also know where you’re going to store your crypto. ![]() For more information, see How We Make Money. Some links on this page - clearly marked - may take you to a partner website and may result in us earning a referral commission. We want to help you make more informed decisions.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |