What is a digital wallet?

A digital wallet (or electronic wallet) is a financial transaction application that runs on any connected device. It securely stores your payment information and passwords in the cloud. Digital wallets may be accessible from a computer; mobile wallets, which are a subset, are primarily used on mobile devices.

What is a mobile wallet?

Mobile wallets are a form of digital wallet most often used on mobile devices. One of the biggest advantages of digital wallets is that they let you pay for things without credit or debit cards, once you enter and store your card and banking information in the mobile payment platform.

What are the different types of electronic wallets?

Basically, we can identify 4 basic types of electronic wallets: Digital Wallets, Crypto Wallets, Mobile Wallets and IoT Wallets. All of them act as umbrella terms for very specific wallet configurations, which may vary according to a number of criteria. Of course, the classifications below will sometimes overlap.

What is a cryptocurrency wallet?

A cryptocurrency wallet is a digital wallet where private keys are stored for cryptocurrencies like bitcoin . A digital wallet has both a software and information component. Secure and fair electronic payment systems are important issue. The software provides security and encryption for the personal information and for the actual transaction.