“A Detailed Study Of Crypto Currency Wallets In Crypto Currency”

Abstract

With the development of technology and IT services soon the cashless transactions came into limelight and digital money came into existence. Now virtual money which is crypto currency shook the economic system of the world. Crypto currency received its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting crypto currency data between wallets and to public ledgers. The aim of encryption is to provide security and safety. Crypto currencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.  Instead of being physical money carried around and exchanged in the real world, crypto currency payments exist purely as digital entries to an online database describing specific transactions. When you transfer crypto currency funds, the transactions are recorded in a public ledger. Crypto currency is stored in digital wallets. This study is aimed towards detailed study of crypto currency wallets in crypto currency. For the study the secondary data sources have been taken into consideration. The study finds that security factor in Crypto Currency wallets make it worthy to invest in it. The cryptographic keys increase the confidence to invest in crypto currency and keep the crypto in the wallets. With block chain technology evolving, crypto wallets are expected to be adopted by many businesses, eventually becoming main stream.