Love it or hate it, cryptocurrency is enjoying its time in the technology spotlight. Whether you’re simply grabbing a few Bitcoins to experiment with this new currency or you’re a more seasoned digital currency investor, your process will remain similar. To purchase or trade digital currency, you’ll need access to an exchange, either an organized platform under a single corporate flag such as Coinbase Consumer, or one of the more automated and distributed exchanges that have lately started to emerge, such as ShapeShift.
Via the exchange, you’ll be able to purchase and trade your chosen crypto-bucks. But if you’re looking to store your new currency or even spend it on goods, services, or debts, then you’ll need a cryptocurrency wallet. But just like the constantly shifting crypto exchange landscape, the concept of the perfect cryptocurrency wallet is a constantly moving target, too.
Cryptocurrency wallets come in several different forms and can span software, hardware, or even paper. But they’re all intended to store at least one kind of digital currency, and in the case of cryptocurrency, manage the cryptographic keys and other security considerations associated with key storage, digital currency transactions, and sometimes identity (ID) verification.