What is a wallet?

What is a wallet?

The electronic or e-wallet is a place where cryptocurrencies can be deposited. There are wallets that are compatible with a single currency and others where multiple currencies can be deposited. In practice, a wallet is a software that serves for containing cryptocurrencies and has the capacity to receive and send.

Hen one wants to send, for example, a bitcoin to another person, it will be done through the wallet, which will send the news of the transfer of the money to a node which then sends it to another node ad so forth, until the transaction will be included in a block and will remain definitively recorded in the blockchain. The transaction’s security will be guaranteed by the private key, which is a fairly long list of letters and numbers that the wallet makes available and which must not be given to anyone, since it could be used in bad faith with the idea of stealing the bitcoin that is deposited in the wallet.

If the key that has been typed in when making the transfer is deemed correct, the transaction is recorded in the blockchain’s public registry and deemed valid. The validation is made by the miner who has the job of making certain that no fraud is committed.

There are different types of wallets; the best known are those online, then there are the ones for cell phones, PC and physical wallets.

Do you want to invest in cryptocurrencies?

We offer you the weekly portfolio CryptoFIB30, in a PDF format. A portfolio of cryptocurrencies with high earning prospects, suggested by our staff (the dates and purchase prices for the reported crypotos in addition to operative signals - when to sell or keep - are indicated).

Bitcoin Future: for those who prefer, instead, to follow the derivative, Bitcoin Future is analyzed, quoted on the CME, with the indication of important levels and operative targets of purchase/sale with a weekly perspective.


Risk warnings
The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
Changes in rates of exchange may have an adverse effect on the value, price or income of an investment.
Past performance is no guarantee of future results and the value of such investments and their strategies may fall as well as rise.


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