A cryptocurrency wallet is a software program that stores private and public keys. It interacts with blockchain to enable users to send and receive cryptocurrencies.
What types of cryptocurrency wallets are there?
There are several types of wallets that provide different ways to store and access your digital currency. Cryptocurrency wallets have three, overarching categories: software, hardware, and paper. Software wallets can be a desktop, mobile or online.
- Desktop: Desktop wallets are downloaded and installed on a PC or laptop. These types of wallets are only accessible from a single computer in which they are downloaded.
- Online: Online wallets run on the cloud and are accessible from any computing device in any location.
- Mobile: Mobile wallets run on an app on your phone.
- Hardware: Hardware wallets store private keys on a hardware device like a USB.
- Paper: Paper wallets can refer to a physical copy or printout of public and private keys, but it can also refer to a piece of software that is used to securely generate a pair of keys which are then printed.
Which other words are used to describe cryptocurrency wallets?
They are also frequently referred to as "addresses".