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
Interoperability
Interoperability refers to the property of product/systems that are able to work with products/systems that are different without any restrictions.
Mempool
It is the abbreviation of Memory Pool. Set of unconfirmed transactions in a blockchain
Margin Trading
It is a way of investing by borrowing money from a broker (or in crypto, an exchange or platform) to trade
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
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