Cryptocurrency Wallet

Cryptocurrency wallet is a digital tool for managing cryptocurrencies. It can be software-based (hot wallet) or hardware-based (cold wallet). Hot wallets are connected to the internet, offering accessibility for frequent transactions. Cold wallets are offline, providing enhanced security against hacks. Each wallet generates a pair of cryptographic keys: a public key (address for receiving funds) and a private key (for accessing and sending funds). Possession of the private key is crucial for control over the cryptocurrency assets. Wallets support various cryptocurrencies and may offer backup, recovery, and integration features. Security practices include strong passwords and two-factor authentication.