Understanding Crypto Wallets: Types, Security, and Best Practices | by PRASIT | The Capital | Dec, 2024

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At its core, a crypto wallet is a digital tool that allows users to store, send, and receive cryptocurrencies.

Think of it as a digital version of your physical wallet, but instead of holding cash, it stores cryptographic keys: public keys (which you can share to receive funds) and private keys (which you must keep secret to maintain control over your assets).

When you have a crypto wallet, you essentially own two keys:

• Public Key: This is like your email address; anyone can send you money if they have this key.
• Private Key: This is like the password to your email. If someone obtains this information, they can access your funds.

Here’s a quick look at what these keys might look like:

Public Key…