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Decentralized wallets are digital wallets that allow users to store, manage, and transact cryptocurrencies without relying on a central authority. These wallets offer enhanced security and privacy by giving users full control over their private keys, which are crucial for accessing and managing their funds. Decentralized wallets often incorporate features such as multi-signature support, hardware wallet integration, and decentralized application (dApp) access. They are essential for users who prioritize autonomy and security in their crypto transactions, ensuring that funds are only accessible to the owner and reducing the risk of hacks and unauthorized access inherent in centralized exchanges.

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