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Understand the Avalanche wallet
Avalanche (AVAX) is a digital currency. It is not like your fiat currency. It's one type of currency in the form of digital code. Let's understand in brief, you can store your fiat currency in a hard wallet, but how can you store your digital currency when the point comes to security? Here, the Avalanche wallet came into existence.
A Avalanche wallet is one type of application or software program, or you can say it's a digital application where you can store/hold your Avalanche without any hesitation because it's very safe. Technically, it's like a bank. Once you credited your currency to the bank. Your bank application shows the number that you have credited to the bank. Same in the Avalanche wallet, you will see the exact amount you have invested and a quantity according to your money.
Now the question is, what else comes in the wallet? The wallet comes with a security key (private key) called a wallet address to accept and send the Avalanche.
Let's understand how wallets work.
- How can you receive Avalanche?
- Start google and type Avalanche.com wallet app and choose to receive options.
- Select in which wallet you want to receive Avalanche. Keep in mind selecting a BCH wallet option if you are receiving Avalanche cash. Else select AVAX wallet while you want to receive Avalanches.
- Now, the wallet generates an address. At that address, you can receive coins. Copy that address and provide it to cryptocurrency exchange or any person who is sending you Avalanches.
How can you send Avalanche?
- Open the Avalanche.com wallet app and select the Send option.
- The first way is to scan the QR code with your phone app or copy the receiver address into your mobile app.
- Choose the right wallet, select BCH while sending Avalanche Cash or select AVAX while you want to send Avalanches.
- Enter the correct value before sending. And before it, check all the details carefully because any small mistake will put you in trouble.
There is not any wallets exist to store Avalanche coins