[C. A. Topic] What is the Wallet saving Crypto Assets?

If you're using passwords and trading, you might be interested in a wallet that keeps your assets safe.

There may be a way to keep assets on the exchange, but there is also a growing interest in wallets where individuals keep their assets because the exchanges are hacked and can not offer the right compensation to Yvit, Yahpizan and Coin Rail.

The purse was originally created with the purpose of storing money, cards, credentials, and identification cards. In other words, when we look at the function of the wallet in terms of storing and putting it away, the wallet of the password asset is the wallet.

However, the wallet of the password asset does not store the password asset itself.
So, the most famous wallet, My Ether Wallet, is popping up a popup that advertises My Ether Wallet is not a Bank.

Wallet2.png

So, what is a wallet?

If you lose your actual wallet, you will have to take action on the cash and cards in your wallet, but everyone will know that the password-protected wallet is not.

This is because the wallet performs the role of accessing the block chain.

In other words, a wallet is a communication medium that acts as an intermediary to access the block chain where assets are stored. It can be thought of as a banking application used to withdraw money from a bank, and a payment application.

Wallet3.png

So, instead of using the encrypted private key directly, encrypt the private key on the device and keep it encrypted. This means that the private key is stored on the device that uses the wallet, so it is a private password that is not available on other devices.

So, it tells you how to recover these private keys when you first create your wallet. This is ineffective in passing the purse's private key, so we'll provide a way to recover it when the wallet is first created.

If you lose this recovery method, you will have to keep the recovery method personally, since it will not be possible to access the wallet after the device with the private key is destroyed.

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