private keys</strong></a>.</p>\n<p><strong>A few of the most well-known examples of desktop wallets are:</strong></p>\n<ul>\n<li>Guarda;</li>\n<li>Electrum;</li>\n<li>Exodus;</li>\n<li><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-atomicdex/">AtomicDEX./n/nThere are a lot of other ones out there as well.</p>\n<h3>Advantages of Dekstop Wallets</h3>\n<p>An important feature for many crypto users, particularly those that are new to crypto trading, is accessibility, which desktop wallets provide. Ease of use is another feature that desktop wallets possess since they are usually linked to trading platforms.</p>\n<p>This gives users a simple technique to check their crypto while maintaining control of their private keys.</p>\n<p>AtomicDEX and a few other desktop wallets utilize atomic swaps to execute <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-peer-to-peer-p2p/">peer-to-peer (P2P)</strong></a> cryptocurrency trading. 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":944,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Digital Dollar?","slug":"what-is-digital-dollar","section":"D","keyword":"Digital Dollar","status":"published","definition":"is one that exists exclusively in digital form.","content":"<p>Many nations' banking systems are dependent on digital US dollars maintained in different bank accounts in electronic or digital form. The digital dollar does not have a physical form, hence it is always kept on computer software. <strong>The exchanges also take place virtually.</strong></p>\n<p>A digital dollar has various advantages, including low-cost foreign transfers and speedier payments. Tax refunds and other forms of payments will be faster as well. Its worth would be exactly $1, and it would be completely supported by US central banks.</p>\n<p>Besides, even if the bank account became unaccessible, it would not affect transactions.</p>\n<p>The digital dollar will face <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stablecoin/">stablecoins, which are crypto-assets that are tethered to the US dollar in order to regulate its worth. The debut of the digital collar is critical because the present financial system is under existential danger as a result of the digital currency revolution ushered in by cryptocurrencies.</p>\n<p>In May of 2021, the Digital Dollar Project was revealed stating that five U.S. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-central-bank-digital-currency/">central bank digital currency</strong></a> pilots will be released in the near future. It was a way to showcase the US dollar as a format of digital currency around the globe.</p>\n<p>The major difference between the digital dollar and the several cryptocurrencies accessible in the market currently, is that these are <strong>decentralized assets</strong> with a changing worth. Like all digital currencies, digital dollars are controlled by the Federal Reserve and are supported by the authority. This indicates that they operate in the same way physical money does and their value is also the same.</p>\n<p>Furthermore, the digital dollar is a conceptual asset with an initial cost. Besides, as everything has moved online, the world of finance is going toward digitalization as well. So, instead of utilizing real dollar bills, individuals are able to purchase things by transferring digital currency to retailers via electronic devices.</p>\n<p>These work the same way as the well-known payment apps such as Venmo, PayPal, Google Pay, and Apple Pay do.</p>\n<p>The idea of digital dollars initially appeared after the explosion of cryptocurrencies in the world in general. <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin (BTC) appeared as the very first and largest cryptocurrency out there, so governments all over the globe are now debating on releasing their very own digital currencies.</p>\n<p>Countries such as the United States, China, and others are racing to create a stable currency that is recognized as legal money throughout the world.</p>\n<p>After the effective introduction of decentralized cryptocurrencies such as <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">Ethereum and Bitcoin, which retain their value but are not subject to any government, authorities around the world are debating on building their own digital currencies, often referred to as the central bank digital currencies (CBDC).</p>\n<p>The Sand Dollar initiative in the Bahamas is one example of a country going into digital currency. Another example is China's <strong>digital yuan,</strong> a test experiment launched in 2014.</p>","level":"medium","meta_title":"What is Digital Dollar? Definition & Meaning | Crypto Wiki","meta_description":"Digital Dollar meaning: Digital Dollar - is one that exists exclusively in digital form.","meta_keywords":null,"language":"en","created_at":"2022-04-20T05:57:59.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-digital-dollar"},"prevSection":{"id":873,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Daedalus Wallet?","slug":"what-is-daedalus-wallet","section":"D","keyword":"Daedalus Wallet","status":"published","definition":"is an open-source, hierarchical-deterministic wallet available on multiple platforms.","content":"<p><strong>Daedalus Wallet</strong> allows users to produce an endless number of keys from one seed. On top of that, it utilizes passwords and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-encryption/">encryptedprivate keys</strong></a> that<strong> safeguard the wallet </strong>against a variety of dangers such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-malware/">malware.
/nHierarchical-deterministic (HD) wallets</strong></a> indicate that it issues a hierarchical structure of private as well as public addresses for the user rather than demanding them to be produced manually. They produce all addresses from one master seed.</p>\n<p>Every time a new counter value is assigned to this seed, an infinite number of additional addresses may be generated automatically depending on the new seed.</p>\n<p>The Daedalus wallet has been officially launched by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-input-output-hong-kong-iohk/">Input-Output Hong Kong</strong></a>. This means it can be <strong>utilized throughout a number of systems</strong>. It provides the possibility to store assets in a safe manner and transfer ADA coins throughout different addresses.</p>\n<p>The user’s geographical location has no limitations. Nevertheless, users are obligated to make sure that engaging in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency processes is allowed within their country.</p>\n<p>Speaking of security, in the scenario where a user creates a Daedalus wallet, it generates a 12-word <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-seed-phrase/">seed phrase</strong></a>. This is done to ensure that the funds in the wallet can be regained by the rightful owner.</p>\n<p>It is also secured with a password. This password has to be entered every time funds are sent out of the wallet.</p>\n<p>In addition, there is also the encryption of private keys. This guarantees that the cryptographic interactions belong to the intended recipient. Thus a higher level of privacy is provided to the wallet’s user base.</p>","level":"easy","meta_title":"What is Daedalus Wallet? Definition & Meaning | Crypto Wiki","meta_description":"Daedalus Wallet meaning: Daedalus Wallet - is an open-source, hierarchical-deterministic wallet available on multiple platforms.","meta_keywords":null,"language":"en","created_at":"2022-04-07T05:50:28.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-daedalus-wallet"},"currentChapter":"D","currentSection":"what-is-desktop-wallet","chapterTitle":"D","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-desktop-wallet","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter D
What is Desktop Wallet?
Desktop Wallet MEANING:
Desktop Wallet -
A software wallet that is usually non-custodial refers to a desktop wallet.
Let's find out Desktop Wallet meaning, definition in crypto,
what is Desktop Wallet,
and all other detailed facts.
A desktop wallet is a sort of software wallet that is typically non-custodial. The cryptocurrencies belonging to a specific wallet aren’t obtained by any central platform or third party. Rather, the end-user is the only one that is able to send or receive funds using private keys.
A few of the most well-known examples of desktop wallets are:
There are a lot of other ones out there as well.
Advantages of Dekstop Wallets
An important feature for many crypto users, particularly those that are new to crypto trading, is accessibility, which desktop wallets provide. Ease of use is another feature that desktop wallets possess since they are usually linked to trading platforms.
This gives users a simple technique to check their crypto while maintaining control of their private keys.
AtomicDEX and a few other desktop wallets utilize atomic swaps to execute peer-to-peer (P2P) cryptocurrency trading. Others have unions with centralized exchanges (CEXs).
Users may also get desktop wallets for free, and the bulk of them employ the open-source code.
Disadvantages of Dekstop Wallets
There are certain disadvantages to using a dekstop wallet. One of which is that, compared to mobile devices, there is a lack of portability. However, the vast majority of desktop wallets are compatible with a comparable mobile wallet.
This indicates that users can move their seeds from a desktop to a mobile device for better portability in a fast and effective manner.
