Digital wallet is a software program or hardware device used to store encrypted money. Accounts similar in form to online banking also have customer ID, account number and password. The password of the digital wallet is the "private key", and only through it can the wallet be opened and operated, and the digital wallet has the functions of "receiving money" and "transferring money"; Just like using a bank card to deposit and withdraw money, you need a card number and password to deposit and withdraw money safely; Digital wallet is not to save money, but to save the information of your digital currency or digital assets (such as Bitcoin and Ethereum); Digital wallet is a software that allows users to pay for goods online. It stores credit card numbers and other personal information, such as shipping address. Once the data is entered, it will be automatically transmitted to the ordering domain of the merchant website.

When using digital wallet, consumers do not need to fill in the order form on each website when purchasing goods, because the information has been stored and automatically updated, and entered the order column of the manufacturer's website; Consumers can also benefit from using digital wallets, because their information is encrypted, that is, protected by private software codes, and enterprises can avoid being cheated, be protected and benefit from it; For consumers, digital wallets are free and easy to obtain.

For example, when a consumer purchases goods on a merchant website that has established a server-side digital wallet, he inputs his name, payment amount and delivery information into the merchant's own form; At the end of the purchase, he was asked to sign his user name and password in order to buy the wallet of his choice in the future. Users can also get wallets from the website of the wallet supplier.