You may have come across names like Tezbox, Tezbox ICO wallet, Tezbox ICO or even Tezbox web wallet. However, for many of us, these may look strange works and phrases. This is because not many of us are aware about the world of cryptocurrency. Only when we have some idea about cryptocurrency, will we be able to have some knowledge and understanding about cryptocurrency wallets. Let us get started by informing the readers that the names and phrases that have been mentioned above pertain to cryptocurrency ledgers. Hence, unless you are able to fully understand the definition, meaning, scope and functions of these cryptocurrency wallets, you will not be able to understand the likes of Tezos web wallets and others.
What are they?
A cryptocurrency wallet is simply a program. It could be available online, or could also come as a part of a physical hardware that you may use along with your computers, laptop or mobile phone. You could make use of it even on a standalone basis. We need to understand that cryptocurrencies are not available in the physical form. They are only available in the digital form and this is where the role of a cryptocurrency wallet becomes vital and critical. Each individual can have some balance in his cryptocurrency ledger. For each of these owners, there is a need to have a secret number and it also is referred to as private key. This key corresponds to the cryptocurrency of that particular wallet. These wallets help in receiving and sending cryptocurrencies and also give the latest information about the balance that is to the credit of the cryptocurrency owner.
They are available in many form. However, the main forms are mobile, desktop, hardware and web.
Desktop & Mobile Wallets
Desktop cryptocurrency wallets are generally installed on a desktop computer. They provide the users with total and complete control as far as the wallets are concerned. They perform many functions and act as an address for the user. The users can make use of these address to received and send cryptocurrencies of different types. They also help in storing private keys. There are some other functions that can also be performed through this mobile wallets.
Mobile wallets also have the same functions as a desktop wallet. However, these forms of cryptocurrency wallets help in facilitating payments in many physical stores. They could come in handy wherever there is touch and pay facilities. They are compatible both with Android and is smartphones.
Web Wallets & Hardware Wallets
Web wallets are useful for those who need access to their cryptocurrencies from any part of the world. It could either be through mobile phones or through browsers. Hardware wallets are perhaps the most secure type of cryptocurrency wallet that one can think of. They help in storing information safely and are almost totally free from the risk of virus attacks.