• Why are crypto wallets important?
Crypto wallets are an important thing to have for those people who own cryptocurrency because then they will only be able to store cryptocurrency with them unless they decide to sell them.
These wallets don’t technically hold your crypto as they are stored on the blockchain, but each of the cryptos has a unique code or a key that your wallet has.
The ones which you see in your wallet are your coins, and the ones with those unique codes have been separated by blockchain technology to avoid any kind of fraud or scam with the investor.
This tells us that you have your unique keys stored in your wallet, and this helps the blockchain recognize which crypto is owned by you.
So that you don’t lose any of the cryptos that you have invested money in.
If you lose your keys, then you have lost your access to those crypto or those coins forever and even have lost your investment in them.
This is why you must take the wallet which you can handle and keep safe properly so that you can avoid any of these huge and expensive mistakes.