What Is a Crypto Wallet?

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One of the many enticing elements of cryptocurrency is its highly futuristic nature — it’s a form of money that exists primarily in a digital landscape and seems like a concept that could’ve been extracted from a sci-fi novel. But as cutting edge as this currency is, it still can’t escape the basics. If you’re interested in investing in cryptocurrency, you might be surprised to find that you still need a wallet to participate. This isn’t your old-school leather bifold, though; it’s something much better suited to digitized dollars.

Cryptocurrency wallets are actually unique software programs designed to store information about your crypto account that makes it possible to exchange, buy and sell cryptocurrency. Before you start mining Bitcoin or purchasing Dogecoin, though, it’s important to understand what exactly these wallets are, how they work and how their security features protect you.