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What is a digital wallet?

Learn how blockchain wallets work.

Digital wallets are different types of software, Apps and even hardware devices, which are designed to keep the private keys of fund owners safe and accessible on a blockchain.
Thanks to digital wallets, you can send and receive cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) or any type of altcoins, tokens and other digital assets such as non-fungible tokens (NFT).
These wallets, unlike a physical wallet, are used to store the private keys that allow access to the address of the funds in cryptocurrencies and tokens or NFTs, which are stored within a blockchain.
Owners of funds registered in a blockchain can access them by using the respective private key for each address of each type of digital asset, contained in an address similar to this:1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.
This address is basically a public key identified as a series of numbers and letters that indicates the route of funds in a blockchain. With this address or public key, any user of that crypto asset can send you cryptocurrencies.
To access those funds, you must do so with the private key, which consists of a 256-bit binary number that is generally represented with 64 numbers and letters such as:B92A 7C46 1547 BD59 AF22 DD32 81F0 001A E750 6789 0910 C43B DACB 002B DAF8 CE00.
Thanks to this private key stored in the wallet, it works as a password, which allows the owner to have access to the funds and other resources of that address within the blockchain.
Furthermore, said private keys prove that the owner of the wallet is the holder of your crypto funds, allowing you to make transactions. If you lose your private keys, you will never be able to access your digital assets again.
Therefore, it is always recommended and important that owners keep access to their digital wallets protected, whether software or hardware in a safe place, or use a trusted wallet provider.
And, although these digital wallets are generally secure, in reality users must understand that anyone who can access a third party's digital wallet with bad intentions will have full access to those funds completely.
On the other hand, it is important to highlight that transactions with cryptographic assets are irreversible, so after an attack on a wallet that could have been accessed physically or remotely, there will be no way to reverse the transaction.
There are several types of cryptocurrency wallets, ranging from custodial wallets, Web wallets, smartphone wallets, computer wallets, physical wallets, metal wallets, and even paper wallets.


How do we do it?


Although digital wallets are widely used today, there are still people for whom using one or using cryptoassets poses an extraordinary challenge.


Therefore, you can also buy tickets on the Ticketeame platform using a debit card, since we have simplified the interaction with the blockchain, breaking the barrier between web2 and web3.

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