Why are crypto wallets important?
Unlike a normal wallet, which can hold actual cash, crypto wallets technically don’t store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions. If you lose your private keys, you lose access to your money. That’s why it’s important to keep your hardware wallet safe.
Why accept Bitcoin and other cryptocurrencies?
Once you start accepting payments in cryptocurrencies such as Bitcoin, Litecoin, XRP, Ether and others, you’ll be surprised how many advantages the crypto payment option poses over conventional payment methods!
Cryptocurrency is a type of digital currency that generally only exists electronically. There is no physical coin or bill unless you use a service that allows you to cash in cryptocurrency for a physical token.
A cryptocurrency wallet is a software program that contains public and private keys that are unique to the owner of the particular wallet. The wallets allow you to interact with blockchains, enabling you to not only make purchases and transactions but also monitor balance.
- Manage all your digital assets in one secure place
- Control your own private keys
- Send and receive cryptocurrency to and from anywhere in the world
- Interact with usernames rather than long, hexadecimal “public key” addresses
- Browse dapps (decentralized finance apps)
- Shop at stores that accept cryptocurrency