Frequently Asked Question

What is a wallet?

Last Updated a year ago

Wallets are the place where your digital currency is stored, and from where the currency can be sent or received. It’s the same concept as a physical wallet where you keep cash or a bank account where your money is kept. Digital currency wallets are, however, not physical accounts but rather unique, private addresses against which the relevant information that makes up your balance is stored. A wallet relates to a specific currency, so the same wallet cannot be used for more than one currency.

ChainEX provides you with one free wallet per supported currency which is hosted on our server. Each wallet can be used for trading in that currency exclusively.

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