07-14-2021, 03:16 AM
Believe it or not, cryptocurrencies are not stored in crypto wallets.
<!-- SC_OFF --><div class="md"><p>The only things that are stored there are the private and public keys. The funds are recorded on the blockchain and can only be accessed by someone with the correct public and private key. Public keys are like bank account numbers, which are shared with people in order to receive transfers. Private keys are like your debit card pin code, allowing you to get into the account and make transactions. Without these keys, there is no way any transaction can be carried out.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/HurrayYouReadMyName"> /u/HurrayYouReadMyName </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojac2u/believe_it_or_not_cryptocurrencies_are_not_stored/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojac2u/believe_it_or_not_cryptocurrencies_are_not_stored/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>The only things that are stored there are the private and public keys. The funds are recorded on the blockchain and can only be accessed by someone with the correct public and private key. Public keys are like bank account numbers, which are shared with people in order to receive transfers. Private keys are like your debit card pin code, allowing you to get into the account and make transactions. Without these keys, there is no way any transaction can be carried out.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/HurrayYouReadMyName"> /u/HurrayYouReadMyName </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojac2u/believe_it_or_not_cryptocurrencies_are_not_stored/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojac2u/believe_it_or_not_cryptocurrencies_are_not_stored/">[comments]</a></span>Kind Regards R