Suggestion to change the term wallet

A wallet doesn't contain your sats. Your sats are always on the block chain associated to an address on the block chain. Your "wallet" stores your private and public keys to do transactions.

There is a lot of people especially new people, that still believe coins are in their "ledger, trezor or even worse their cex account (that's another topic on ownership entirely). What happens if ledger goes out of business? Or if I smash my device? I think this confusion could be solved by changing the term for what it actually does. Stores your keys.

Perhaps call it KeyRing? I'm open for suggestions.

submitted by /u/lib3rty47
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *