How does a wallet work? What types of actions do wallets support?

Modified on Mon, 6 Jul at 10:03 AM

Bit2Me offers a free euro and cryptocurrency wallet service. This means we will store your coins at no cost.

In addition to sending or receiving cryptocurrencies via Bit2Me, you can also deposit EUROS into your EURO WALLET or withdraw them to your SEPA bank account, buy, sell cryptocurrencies, or exchange one type of cryptocurrency for another.

Euro wallet: This wallet is used to hold customer deposits in euros, or the euro amount from sold cryptocurrencies.

Cryptocurrency: refers to any virtual currency currently supported by Bit2Me. We do not charge for transferring cryptocurrencies from one Bit2Me wallet to another Bit2Me wallet.

Crypto wallets are the bridge that allows us to manage our cryptocurrencies. They are a piece of software or hardware that enables us to receive and send cryptocurrencies via each cryptocurrency's blockchain network.

Since Bitcoin and other cryptocurrency systems are completely decentralized, there is no single entity or organization that controls them. This is why wallets play a very important role in this ecosystem.

They are a fundamental piece of infrastructure that allows us to operate with cryptocurrencies, and within them, we can view and check our balances and all completed and received transactions.

In addition to providing security and confidence for our operations, wallets also allow us to sign our transactions without the private keys ever leaving the device.

What types of actions do wallets support?

Buy: purchase cryptocurrencies using traditional currency (euro...)
Sell: sell cryptocurrencies for traditional currency (euro...)
Send: transfer cryptocurrencies to another wallet address
Receive: get cryptocurrencies from another address
Exchange: swap cryptocurrencies between different wallet addresses
Transfer: move euros to the user's bank account

For more information: What is a crypto wallet?