A cryptocurrency wallet management system is a program designed to facilitate the management of multiple virtual currency wallets from a single interface. Institutional or retail crypto investors can use it.
Some wallet management systems allow users to conduct blockchain transactions without compromising the security of the assets. Another term for a wallet management system is cryptocurrency key vault.
It employs high-level encryption to improve the security of stored keys. These systems’ critical security features include multi factor authentication, PIN, and face and fingerprint recognition.
Other functionalities synonymous with a wallet management system include setting roles, scheduling crypto withdrawals, and defining transaction limits.