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What is a cryptocurrency wallet and why do you need one?

A simple explanation of what cryptocurrency wallets are, what they do and why you need one.

What is a cryptocurrency wallet?

Put simply, a cryptocurrency wallet is a piece of software which is used to store and manage your cryptocurrencies and tokens, such as $RCM, NFTs, ETH (Ethereum) and BTC (Bitcoin). They also allow you to interact with blockchain technologies.

Why do I need a cryptocurrency wallet to register an account on Arcomia?

Arcomia utilises blockchain technology and therefore a wallet is required in order for you to be able to interact with this blockchain technology. Your wallet will securely authorise your access to the website and help you to keep track of any transactions that you perform. 

It will also act as storage for any Ethereum tokens that you have from Arcomia, such as $RCM and virtual goods that you own, such as land and in-game assets. For example, you might earn some $RCM via Arcomia Play2Earn features and will need a place to store it.

A cryptocurrency wallet provides you with true ownership of everything that you purchase, earn or win on Arcomiaโ€™s platform. You will always have control and access to these virtual goods as long as you remain in control of your wallet.