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The digital wallet is a program which has the capability to allow the different users to interact with one another by sending and receiving the digital currency. The software enables the user to monitor their balance. In order to use the cryptocurrency like Bitcoin, the user should have the digital wallet. It doesn’t store the currency at any single location or anywhere else in any physical form. Only the records of the transactions are stored. The program stores the private and public key in order to allow the user to monitor balance, send and receive them and perform any other required operation. There are different types of wallets which provide various ways to access and store the digital currency.