Rohan loved collecting rare coins. He kept them safe in a small treasure box with a special key. Whenever he wanted to use a coin, he opened the box with his key, took out the coin, and then locked the box again.
One day, his friend Priya said, “I’ve started collecting digital coins. I don’t need a real box—I have a digital wallet instead.”
Rohan was curious, so Priya explained, “A digital wallet is like your treasure box, but it’s on your phone or computer. Instead of using a key, I use a secret code called a private key to unlock it. This key is super safe, and only I know it.”
She continued, “My wallet doesn’t store coins like a real box, though. It stores proof that I own the coins on the internet. If I want to spend them, I just use my private key to send them to someone else.”
Rohan was amazed. “So, your digital wallet is like an invisible treasure box that only you can open?”
“Exactly!” Priya said. “And I can take it with me anywhere because it’s on my phone.”
This is how a crypto wallet works! It’s a safe, digital treasure box where you keep your secret key to access and use your cryptocurrencies.
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