Crypto Wallet or Cryptocurrency Wallet is just like a bank account which is used to store, receive or send digital currency to another wallet account or can use for some other purpose. Basically, a cryptocurrency wallet is a software program that stores the private and public keys and interacts with various blockchain to enable users to either send or receive digital currency and monitor their balance. In order to trade in cryptocurrencies or if want to have them as your asset, then you need to have a wallet account.
How does Crypto Wallet work?
Crypto wallets work like the safety deposit boxes which is used to store the most treasured possessions like bond certificates, jewelry or a will. None of us can afford to lose the keys to the safety box because in doing so, we could lose ownership of our valuables if they wind up in the wrong hands.
Cryptocurrency wallets work pretty much the same way. The only difference is that instead of physical keys we have digital keys.
Digital keys are commonly known as private keys or master keys, take the form of hexadecimal codes, something like this:
“2940447a4ed5eef7f46bcc185cb2f21d2a8bffcde5418156a9d1a44aa137669”
As this can be seen, there is a combination of numbers and letters, using both uppercase and lowercase. Most of the blockchains are transparent, so, it is easy to find out how much money a certain cryptocurrency wallet has, as well as the transactions the owner has previously made.
However, a cryptocurrency wallet address never reveals the real-world identity of the owner, and that is why the blockchain is referred to as “pseudonymous”.
When you have the digital assets such as ICO tokens and cryptocurrencies in a wallet, then you must have your private key to access all your assets and authorize transfers from your wallet. You can never lose your key, share with anyone and always keep safe and protected so that you can retrieve whenever necessary.
Which Cryptocurrency Wallet is the Best?
There are different wallet types available and the one you choose will depend on your personal needs. Moreover, different wallets offer different things, such as extra security, user-friendliness, authentication or convenience. Some most popular types of cryptocurrency wallets are Desktop Wallet, Mobile Wallet, Web Wallet, Paper Wallet, Hardware Wallet, Bitcoin.
Apart from that, there are now hundreds of different providers, and you can’t review them all. Instead, the most recommended of the most popular includes Exodus, Armory, Breadwallet, Jaxx, and many more. Now, you have to choose the wallet according to your requirement and need.
How Mycustomerservice related to Cryptocurrency?
The two companies do not share the direct relationship. We build free tools and share information among-st customers of companies like Cryptocurrency. Mycustomerservice is a customer focused company, try to make customer aware about the basic issues and methods to resolve those issues. We focus to inform the customers about calling mechanisms with tips and knowledge. We also try to help customers in removing the confusion with customer service, especially with larger companies.