What is an e-wallet? This is a program or software designed to store both private and public keys, enabling users to send or receive currency through its interaction with available blockchain. This means that for you to receive or send any digital currency, you need to have registered with a digital wallet. Once you register with an e-wallet, it means that you can send or receive digital currency from other people you do business with. You should therefore understand that there isn’t much you can achieve without an e-wallet.
Once you receive money in your wallet, you can spend it for other services or goods or store them. Such e-wallets can be accessed using your mobile phone app like the bitcoin trader app among others. You however need to familiarize yourself with the several types of e-wallets that are there so that you can choose wisely. This guide has lined up several options for cryptocurrency wallets that you can choose from.
The following are some of the e-wallets you can get access to when trading with digital currency;
- Mobile wallets. These are wallets you can access via the phone through apps like the bitcoin trader app. With such, you can use them from anywhere you go with your phone and another thing is that you can use them in stores that accept digital currency whenever you go.
- Desktop wallets. These are downloaded for use on a desktop or a laptop. They are however prone to hack and viruses and therefore the need to protect your desktop.
- Hardware wallets. These are wallets where private keys are stored in hardware devices such a USB. They can be installed offline which makes them secure.
- Online wallets. These are stored and run on cloud and are vulnerable to attacks.