ASSET TOKENIZATION ON BITCOIN
INTRODUCTION TO WALLETS AND KEYS
In this section, we'll delve into the essentials of engaging with blockchain wallets and understanding cryptocurrency transactions. Additionally, we'll highlight best practices to ensure your safety.
What is a blockchain / crypto wallet?
A blockchain wallet, often simply called a crypto wallet, is a digital tool that allows users to store, manage, and transfer cryptocurrencies or digital assets like tokenized securities. It interacts with various blockchain platforms to enable users to send and receive digital currency and monitor their balance.
If you are investing on STOKR, then you need to hold your security tokens in specific blockchain wallets. Some examples are SideSwap and Blockstream's Green Wallet, but we'll get into that later.
If you're unable to access your cryptocurrency wallet due to a forgotten private key or a misplaced device, regaining access to assets such as Bitcoin or Ether can be extremely difficult, if not unfeasible. It's crucial to maintain backups of your keys and utilize recovery techniques, like mnemonic phrases, provided by the wallet. Notably, if your wallet contains tokenized securities issued by STOKR, we can aid in their recovery, as these tokenized securities are retrievable.
If you are investing on STOKR, then you need to hold your security tokens in specific blockchain wallets. Some examples are SideSwap and Blockstream's Green Wallet, but we'll get into that later.
If you're unable to access your cryptocurrency wallet due to a forgotten private key or a misplaced device, regaining access to assets such as Bitcoin or Ether can be extremely difficult, if not unfeasible. It's crucial to maintain backups of your keys and utilize recovery techniques, like mnemonic phrases, provided by the wallet. Notably, if your wallet contains tokenized securities issued by STOKR, we can aid in their recovery, as these tokenized securities are retrievable.
Everything about keys
Here is a quick recap of how keys work - there are two types of keys, both of which come in the form of a long string of numbers and letters:
Unless exported manually, public and private keys are hidden within your wallet. In order to receive funds, a public key along with some more information is used by the wallet to generate an address. You will need to provide this address to anyone who wishes to send you funds.
- Private keys are like the keys to the kingdom. Anyone in possession of your private key has full control over your assets. Needless to say, your private key should always remain your little secret. NEVER EVER give your private key to anyone!
- Public keys on the other hand, serve as the public identifier of your spot on the blockchain. These are generated from a private key, which they are immutably linked to mathematically. Because this mathematical function is impossibly hard to reverse, the private key behind it remains secret.
Unless exported manually, public and private keys are hidden within your wallet. In order to receive funds, a public key along with some more information is used by the wallet to generate an address. You will need to provide this address to anyone who wishes to send you funds.
