What is a blockchain wallet?
Webster defines this as a digital wallet that allows users to store, send, and receive cryptocurrencies. It acts as an address that allows others to send funds, and allows the user to check their balance and sends funds to others.
Blockchain Wallets are similar to physical wallets in that they store passkeys that are used to sign for cryptocurrency transactions. However, instead of holding physical items, blockchain wallets provide an interface that gives users access to crypto. They also make transactions secure by cryptographically signing them.
Blockchain is Here To Stay. This is the new database of the future and platform that Cryptocurrencies reside in requires a wallet to exchange, utilize and redeem. This is Very Important, it acts just like the wallet in your back pocket, only it is in the data world. We will all learn more about this as we go along.
Looking for the best way to upload CASH or FIAT into Cryptocurrency? We use the blockchain wallet with COINBASE (we suggest you set up – its the best way to learn more. You get $10 in BTC just for joining).
- There are several other wallets. All with set purposes and resource within blockchain, cryptocurrency and the growing digital future in store for us all. For years we have been trusting and utilizing Coinbase.
- What Is Coinbase? Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency (crypto).
- Coinbase is now offering Staked Coins, and the option to “Stake” or hold your coins for gains. What is staked Coins? This is a way for investors to earn rewards by making their cryptocurrency holdings available for use on a blockchain. It’s a key component of cryptocurrencies that use “proof-of-stake” validation, which allows investors to help verify transactions in the blockchain database. In return for staking their crypto, investors receive rewards in the form of percentage yields.
- Staked Coins are able to gain in rewards, usually in additional coin as the staking is occurring. Similar to a bank bond or Certificate on Deposit. Used to create and leverage the creation of additional Crypto Coins.
We cover and train on the Blockchain, Cryptocurrencies and More in our Online Community Zoom Rooms. Be sure to get in Contact With Us for more! We will education and support you in this incredible time of life with this technology.