To learn how to use digital wallets we must start by knowing what a digital wallet is and knowing about its operation. Digital wallets are like a kind of credit or debit card, but in digital version and you can store them in an application on your mobile device. As a security measure and to protect your transactions, your personal data and your card number are not stored. When you start using it, you just have to enter the information of the wallet you wish to affiliate.

The digital wallet is a concept that has been managed from the emergence of cryptocurrencies or virtual currencies and the entire blockchain and digital banking technology model. In short, a digital wallet is a payment mechanism that allows you to save your balance in Bitcoin and depending on the type of wallet, you can also save different types of cryptocurrencies.

Its operation

As its maximum operation, it is about preserving personal data and in general, everything that has to do with user safety. In this way, each wallet has a unique Bitcoin address and that is refreshed from time to time. That email address is made up of a series of random numbers and letters that are represented in a QR code.

In the previous article entitled What is a wallet? Learn how to save your cryptocurrencies and we talk about the two fundamental elements that all digital wallets work with: a public key and a private key which, leading to a comparison with the traditional banking system, could be recognized as a bank account number that It can be shared with everyone and the access code that only the account holder has.

Where can the digital wallet be used?

There are many places currently where you can make payments with cryptocurrencies, to recognize them we only have to locate the shops that show the symbol without contact or that accept to make transactions through your App. It is also possible that your Application uses what is called Magnetic Transmission Safe, MST, which consists of a technology that allows it to work with most conventional payment terminals.

Types of wallets

There are currently different types of wallets with which any type of transaction can be made and in which critpoactive assets can be safely stored. It is good that we know its characteristics, such as those mentioned in the previous article entitled 7 characteristics about digital wallets that you should know to make it easier to choose the best wallet, at our convenience, however, for the variety of options that are in The market today, it is good to investigate well before making a decision and evaluate all the features that they offer you.

What transactions can be made with digital wallets?

Through the different digital wallets that exist, the following transactions can be made. Be able to save different types of cryptocurrencies, depending on the type of wallet, you can purchase cards with the Visa logo, MasterCard, which allows you to convert your Bitcoin to the currency of your country, using ATMs.

If Bitcoin ATMs exist in your country, you go with your wallet and sell your Bitcoins or you can also buy them and have them sent to your wallet. You can send or receive your Bitcoin balance from anywhere in the world where you are, safely and quickly.

What do you think about this topic? Do you already know more clearly how you can use your digital wallet?

If you want more information you can contact us or write your query at the bottom (comments section).

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