An online platform that provides storage services for a digital blockchain currency. Such services are used for buying and selling cryptocurrency, swap transactions, and payment for goods and services. Cryptocurrency wallets can be supported by issuers of digital money or third-party resources centered on working with different currencies.
Every cryptocurrency wallet contains the owner’s public and private cryptographic keys.
The most secure implementation of this kind of service is a hierarchical deterministic wallet (HD Wallet) with separate key storage. Using this technology, the platform stores only a part of the data required for cryptocurrency validation, while operations require the signature of both the client and the service to be executed. To use HD Wallet, users must enter a 24-word passphrase in which their signature is encrypted.