Glossary - ChicksX

Burner Wallet is a temporary cryptocurrency wallet used for quick transactions, often with low security and limited funds.

Burner Wallet is a temporary cryptocurrency wallet designed for short-term use and quick transactions. It is typically used for small amounts of cryptocurrency, minimizing exposure to risk. These wallets prioritize convenience over security, making them ideal for one-time purchases, events, or testing new decentralized applications. Users can easily dispose of a burner wallet once it serves its purpose, helping maintain privacy and reduce the risk of hacks. However, due to their low security, they are not recommended for storing significant amounts of cryptocurrency. Always ensure your primary holdings are kept in more secure wallet solutions.