How does a crypto wallet work?

Published 5 months ago

A cryptocurrency is a medium of exchange that runs on blockchain technology. This digital asset does not exist in tangible form

Crypto owners cannot just store their assets anywhere. They need a secure crypto wallet to hold the public and private keys that are used to access their cryptocurrencies. An important fact to understand is that a cryptocurrency wallet does not store the actual cryptocurrency but rather the keys used to access it.
A private key is similar to a password to let the user access their cryptocurrencies while a public address is much like an account number. If a user wants to send money to another user, they enter their private key and the address of the receiving party. The transaction is processed once the details are given. Cryptocurrency wallets are not limited to one type.
There are hardware wallets, software wallets, and online wallets depending on the platform you can use them. Build your own wallets with the help of experts in the industry. Blockchain App Factory is a reputed crypto wallet development company that can guide you through the entire process.
riya steve