LeoGlossary: Wallet

5 mo (edited)
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A place where people store their cryptocurrency.

This can be a physical device, service, program, or application. They can either be:

For many, a digital wallet will perform the same functions as a bank: the sending, storing, and receiving of currency.

This applies equally to base layer coins or Layer 2 tokens.

Wallets operate using a public and private key system. The owner of the wallet has to provide the private key each time a transaction it to be made. Without this key, there is not way to access the wallet.


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