How does a cryptocurrency wallet work?

1. Download a cryptocurrency wallet- Depending on the type of currency you are storing, you may need to choose a specific wallet application.

2. Install the wallet – Install the wallet application onto your computer or mobile device.

3. Create a password – Create a unique and secure password for your wallet.

4. Generate a public key – Generate a public key to share with others when sending/receiving cryptocurrency.

5. Generate a private key – Generate a private key which will be used to authenticate and securely store your cryptocurrency.

6. Receive cryptocurrency – You can receive cryptocurrency into your wallet by providing the sender with your public key.

7. Send cryptocurrency – You can send cryptocurrency out of your wallet by providing the recipient with your public key.

8. Manage your cryptocurrency – Finally, you can manage your cryptocurrency. Use tools within your wallet application to view your balances and make transactions.