What’s a crypto wallet (and how does it manage digital currency)?
A cryptocurrency wallet is a piece of software that keeps track of the secret keys used to digitally sign cryptocurrency transactions for distributed ledgers. Because those keys are the only way to prove ownership of digital assets – and to execute transactions that transfer them or change them in some way – they are a critical piece of the cryptocurrency ecosystem.
Better known as “crypto wallets,” they are like the keys to the blockchain car. Without those keys, the car won’t run. And without them, there would be no way to prove ownership of a digital asset – anything from a bitcoin to a token representing some kind of asset.