What Does A Crypto Wallet Look Like?

Secure Digital (SD) Wallet

A “secure digital wallet” is an electronic device that stores the user’s funds and also holds a private key that can be used to sign transactions. Therefore, a secure digital wallet is the primary way to store digital currency on a general-purpose computing device.

The first version of what we know as a cryptocurrency wallet was created by David Chaum in 1991. The first online transaction using bitcoin occurred in May 2012 between Satoshi Nakamoto as the main client and Gavin Andresen as the payment intermediary.[8] In October to December 2012, it was announced[27] that class action lawsuits have been filed against Ripple Labs, Ripple Communications and XRP II LLP for false advertising regarding their claims about its technology – products which were already unstable.[28][29] This drove away many customers, including one of Bitcoin’s earliest adopters – Hal Finney – whose “big win” was forced back into cold storage.[30] There are now 10 different kinds of addresses out there: hashed, non-hashed, paper wallets etc. Here’s how they work: