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About Elrond :
Elrond is used to creating a highly Scalable Public Blockchain with Adaptive State Sharding and Secure Proof of Stake. The Elrond(EGLD) is basically on the blockchain technology used and produced to ensure more scalability, security, interoperability, efficiency, and funding network fees in the ecosystem.
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Understand the Elrond wallet
Elrond (EGLD) 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 Elrond wallet came into existence.
A Elrond wallet is one type of application or software program, or you can say it's a digital application where you can store/hold your Elrond 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 Elrond 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 Elrond.
Let's understand how wallets work.
- How can you receive Elrond?
- Start google and type Elrond.com wallet app and choose to receive options.
- Select in which wallet you want to receive Elrond. Keep in mind selecting a BCH wallet option if you are receiving Elrond cash. Else select EGLD wallet while you want to receive Elronds.
- 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 Elronds.
How can you send Elrond?
- Open the Elrond.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 Elrond Cash or select EGLD while you want to send Elronds.
- 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 Elrond coins