A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.
Your public key is used to receive funds.
It identifies your account on the network.
It can be searched in the ledger.
Your private key is only used to sign transactions and prove you own the related public key. You should never share it under any circumstances.
A crypto wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin. Most coins have an official wallet.
Wallets are software which can be used to view cryptocurrency balances and make transactions. Each wallet type is a little bit different, but in general, any given wallet will work with one or more cryptocurrencies and will be able to store one or more cryptocurrency-specific “public addresses.”
There are several types of wallets you can use including Online, Offline, Mobile, Hardware, Desktop, and Paper. Each “type” refers to what type of medium the wallet is stored on, who is in control of the wallet, and whether or not the data is stored online.
Cryptocurrency wallets are all built to be secure, but the exact security differs from wallet to wallet. Generally, like your usernames and passwords, the security of your wallet comes from you using best practices. We suggest not keeping more currency than you need at one time in a single wallet that you use frequently, using google authenticator for extra layers of protection, encrypting your wallet, and using an official (or officially endorsed wallet). You can also use multi-signature transactions.
The answer is that cryptocurrency is “pseudonymous.” Due to the open source and public nature of transaction block chain ledgers, there are little bits of public data that can be used to backward engineer someone’s identity (in theory). For most of us, the answer then would be, “it’s pretty darn close to anonymous.”