There is more talk about investing in cryptocurrencies and the risks of having them and very little about the safeguarding and protection that must be had for said digital assets to remain safe.
Cryptocurrencies work through a decentralized database (Blockchain) that in turn can act as a public repository of transactions. This is complemented by digital wallets, and like any transaction in which the internet mediates, it is not exempt from the risks of fraud and hacking.
How do wallets work?
They are applications on the web or on mobile devices where users store their cryptocurrencies. Some wallets offer only the storage service, while others also operate as an “exchange” allowing the exchange of cryptocurrencies for other currencies including dollars or services in shops.
“The wallet has a role similar to a bank account, in terms of safeguarding and managing the assets that a user manages; where you can “deposit” your coins and have it stored and even generate an increase in value