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Understand the Ocean Protocol wallet
Ocean Protocol (OCEAN) 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 Ocean Protocol wallet came into existence.
A Ocean Protocol wallet is one type of application or software program, or you can say it's a digital application where you can store/hold your Ocean Protocol 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 Ocean Protocol 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 Ocean Protocol.
Let's understand how wallets work.
- How can you receive Ocean Protocol?
- Start google and type Ocean Protocol.com wallet app and choose to receive options.
- Select in which wallet you want to receive Ocean Protocol. Keep in mind selecting a BCH wallet option if you are receiving Ocean Protocol cash. Else select OCEAN wallet while you want to receive Ocean Protocols.
- 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 Ocean Protocols.
How can you send Ocean Protocol?
- Open the Ocean Protocol.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 Ocean Protocol Cash or select OCEAN while you want to send Ocean Protocols.
- Enter the correct value before sending. And before it, check all the details carefully because any small mistake will put you in trouble.
Here, you should know how many wallets exist today to store Ocean Protocols or any cryptocurrency coins. There are web, mobile, and hardware wallets that are in work today to store or hold any cryptos or Ocean Protocols.