What is a Crypto Wallet?

A crypto wallet is a tool that generates private key/public key combinations and allows users to send and receive cryptocurrency on a blockchain or multiple blockchains.

A public address can be thought of as an account number of sorts. It is long string of numbers and letters that users must display or send to someone else in order to receive crypto from there.

For every public address, there is a corresponding private key that allows those who have access to the key to sign a transaction and unlock access to the cryptocurrency associated with the public address. Whoever has access to the private key has control over the crypto in the associated address.

A crypto wallet can generate an infinite number of public address/private key combinations.

A custodial wallet is a wallet where a third party has access to your private keys. A non-custodial wallet is a wallet in which no one has access to the private key accept you.

We very much prefer non-custodial wallets as they stay true to the trustless nature of cryptocurrency.

Wanna learn the basics of cryptocurrency including how to safely buy, securely hold, and easily transfer your crypto? 

Learn more here – http://beginnerscryptoworkshop.com