How Crypto Wallets are protecting Cryptocurrencies

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How Crypto Wallets are protecting
Cryptocurrencies? This is a basic guide to
cryptocurrency wallets that everyone should
know. Weve collated a list of the different
types of crypto wallets and talk about the need
for you to have one.
Cryptocurrencies are needed to be stored and
secured. Just like our physical wallet, even
cryptocurrencies got its designated Crypto
wallets. Crypto wallets are software programmes
that store both private and public keys which
enables you to send and receive coins through
the blockchain technology. How does a Crypto
Wallet work? Digital wallets store private and
public keys. Private keys are sort of PIN number
to access your bank account, while public keys
are like your bank account number. When you send
Bitcoin or other cryptocurrencies, you are
sending Value in form of a transaction,
transferring the coins to the recipient. In order
that the recipient uses the transferred digital
coins, their private keys must match the public
address that you sent the currency to. Your
private keys offer you total power over the funds
related to your associated public keys. Thats
why it is necessary to hide your private keys
detail. If any other person came to know it they
can misuse your coins. To protect yourself from
any accidental loss, make sure you have a
back-up of your private keys. If you are unable
to recover your lost private keys, you will lose
all your funds.
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• Are Crypto Wallets are secure?
• Crypto wallets are built to be secure, but its
  exact security depends on wallet to wallet. Also,
  it depends on cryptocurrency wallet development.
  An
• experienced team ca best guide you to the whole
  process and how to efficiently use it, as the
  security also depends on using the best
  practice.
• Different types of Wallets
• Depending on the need and purpose one can select
  the features and which one is best suited.
• It is necessary to understand the difference
  between the major two types of wallets
• Hot wallets Hot wallets are easily accessible
  through the web portal or mobile app, it is
  similar to the cash in the pocket. It is known as
  hot because it is capable of greater
  accessibility and activity. However, it is more
  vulnerable to attacks.
• Cold wallets Cold wallets are similar to savings
  accounts which are more secure and difficult to
  access. As it is held offline and so it is less
  prone to attacks. It is a good idea to store the
  cryptocurrency which is meant for long-term
  holding. The accessibility
• of performing transactions is limited.
• Kinds of Wallets

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