Is blockchain a wallet?

03 Oct 2022 By PAYCEC

Blockchain is not a wallet by nature. It works on a peer-to-peer network that allows users to transfer values without third-party involvement, which helps to cut transaction costs. This technology does not require a central server but multiple copies of the blockchain (also known as nodes).

One of the blockchain payment solutions is blockchain wallets - electronic wallets that enable users to store, manage, make payments in cryptocurrencies and trade cryptocurrencies.

Blockchain wallet users can manage their Bitcoin, Ether, and other virtual assets. It charges dynamic fees, which means that transaction fees can vary depending on factors such as transaction size.

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