What is the meaning of a watch only wallet in the world of cryptocurrency?

3 answers

• Gabriel OviedoAug 17, 2021 · 4 years ago
  A watch only wallet is a type of cryptocurrency wallet that allows users to monitor their funds without having the ability to spend or transfer them. It provides a read-only view of the wallet's transactions and balance. This is useful for individuals or businesses who want to keep track of their cryptocurrency holdings without the risk of unauthorized access or theft. The watch only wallet can be created by importing the public key or address of an existing wallet, without the need to import the private key. By doing so, users can view their wallet balance and transaction history, but cannot initiate any transactions. It's a convenient way to stay updated on your cryptocurrency investments without compromising security.
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• Juliana RibeiroJan 31, 2024 · a year ago
  A watch only wallet is like having a window into your cryptocurrency wallet. It allows you to see your funds and transactions, but you can't touch them. It's a great tool for monitoring your investments and keeping track of your balance without the risk of accidentally spending or losing your funds. You can think of it as a one-way mirror that lets you see what's happening inside your wallet, but doesn't allow you to interact with it. It's a useful feature for those who want to maintain a high level of security while still being able to monitor their cryptocurrency holdings.
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• SFDevJun 30, 2024 · a year ago
  A watch only wallet is a feature offered by some cryptocurrency wallets that allows users to view the balance and transaction history of a wallet without having the ability to spend the funds. It's a read-only version of a wallet that can be created by importing the public key or address of an existing wallet. This is particularly useful for businesses or individuals who want to share their wallet information with others for auditing or monitoring purposes, without the risk of unauthorized access or theft. It provides an extra layer of security by limiting the actions that can be performed on the wallet.
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