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What is a crypto wallet?
What is a crypto wallet?

What is a digital wallet and how does the free Kriptomat digital wallet work?

Kriptomat Support Team avatar
Written by Kriptomat Support Team
Updated over a week ago

You can imagine that a digital wallet works similarly to your bank account. The wallet does not physically store your cryptocurrencies, but instead, it protects the access to your cryptocurrency.

It is very important to reiterate that a crypto wallet doesn’t store your coins. It stores the private keys required to spend those coins. The coins, which are in the form of unspent transaction output, exist only on the blockchain.

For a more detailed explanation on digital wallets, please see our article: Useful Information About Crypto Wallets.


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