crypto wallet

Definitions

1. Software or hardware that stores the cryptographic private keys needed to sign transactions on a blockchain. Despite the name, wallets don't actually hold cryptocurrency — they hold the keys that prove ownership of assets recorded on the distributed ledger.

   In plain English: A digital keychain that proves you own cryptocurrency. It doesn't hold the coins themselves — those live on the blockchain — it just holds the password that lets you spend them.

   Example: She moved her ETH to a hardware crypto wallet after the exchange got hacked, figuring cold storage was worth the inconvenience.

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