To engage with the Concordium blockchain and effectively handle your CCD, the native token of Concordium, a wallet is essential. At present, there exist four official wallets provided by Concordium Software. These wallets encompass the Concordium Desktop Wallet, Concordium Wallet for Mobile, Concordium Legacy Wallet (for old users that want to restore a backup), and Concordium Wallet for Web.
Developed exclusively by Concordium Software, these wallets are specifically designed to facilitate the management and storage of CCD. It's important to note that these wallets are dedicated solely to CCD and cannot be utilized for any other cryptocurrencies.
One of the things that make transacting on Concordium different is that all accounts are tied to an identity. This means that you will need to verify your identity before you start transacting. Identity verification is done by third parties and due to the decentralized nature of the chain, Concordium does not know your identity. The identity only exists in your wallet and as an encrypted copy that the identity provider.
It's also important to note that it is not possible to import accounts and identities from one wallet type to another as they store your private keys (a long alphanumeric code that acts similarly to a password and is used to authorize cryptocurrency transactions) in different ways.
The cost of transaction fees remains stable in Euros, while the equivalent value in CCD fluctuates in accordance with the prevailing CCD to EUR exchange rate.
Key Takeaways for Creators and Collectors
Each of the above wallets has its own unique points plus added functionality depending on the platform you choose to use. Users of Concordium wallet can:
Send and receive CCD and shield transfers of CCD between balances in an account or any outgoing transfers by encrypting transfers and keeping them private
Access and use a growing number of dApps via your wallet
24/7 access to your funds to transact and cash out whenever you want
Delegate CCD to earn more tokens
Inspect tokens to see their metadata, including visual NFTs
What’s the best wallet type for me?
Learn more about the official Concordium wallets for new users, their uses and benefits and more in our review.