Wallet
By CoinGecko | Updated on Mar 03, 2020
Analogous to an online bank account or a email client software. Cryptocurrency wallets is an interface that lets users store, send and receive cryptocurrencies. There are 3 popular categories of wallets, "Custodial" - where private key security (and by proxy, the cryptocurrencies themselves) is handled by a third party, "Hot" - wallets that is meant for frequent use, and "Cold" - wallets that is meant for secure and long term storage.
Related Terms
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Central Bank Digital Currency (CBDC)
It is a digital fiat currency issued by the central banks, contrary to cryptocurrency that issued by non-legislative party.
Whitepaper
An introductory paper to consicely explain an issue and a possible solution on the issue.
Bots
Refers to software or programmes that automatically trade based on preset behaviours.
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