An Introduction to Various Types of E-wallets for the Storage of Cryptocurrencies

Strategic challenges facing blockchain technology in general _and therefore, products that utilize this technology such as cryptocurrencies_ include issues relating to maintenance and storage which poses some concerns for activists in the field in terms of the security of assets and investors identity. Cryptocurrencies are often done stored through tools called digital wallets. The purpose of the present paper is to identify the various types of digital wallets and specify their characteristics according to user needs, so that they can better manage their cryptocurrencies. This paper can be categorized as a descriptive-survey. The data were collected through obtaining answers to a questionnaire, and thereafter, the answers were classified in the Likert range from one to five. The statistical population include experts working in universities, banks, and research institutes who actively use the blockchain and cryptocurrencies technologies. Considering the novelty of cryptocurrencies, and especially digital wallets, the researcher was only able to base his study on a sample volume of 20. The validity of the questionnaire was confirmed by experts in the field, and its reliability was confirmed through obtaining the Cronbach's alpha coefficient using the spss26 software. The findings show in choosing a digital wallet out of the 5 available types (hardware, web, mobile, desktop and paper, the security of the wallet, its availability, offline or online features, support for a variety of cryptocurrencies, the price of the wallet and the cost of transactions, user interface and the backing of private keys are highly prioritized by the users. The paper ends with a flowchart in order to help the user choose the appropriate wallet for based on their needs.