In order to convert Branch Hearts into Branch Tokens, which are based on the cryptocurrency Ethereum ERC20, you must have a cryptocurrency wallet. A cryptocurrency wallet, or currency wallet for short, is a device that stores public and private keys. When a wallet is created there is a Public Key (Address) and a Private Key which are used to send and receive currency. (If you’ve created a wallet for the base currency Ethereum in the past, you can register your existing Private Key to access your wallet or if you’ve never used Ethereum before you can create a new wallet through Branch).
The cryptocurrency wallet is similar to a bank account in that the Public Key (Address) is like an account number you’d provide when receiving currency from others, and the Private Key is similar to a password that only you know and use to send currency to others. The major difference between a currency wallet and bank account is that a bank can recover account numbers and passwords if you lose them through the information you provide to the bank, but a currency wallet cannot be recovered if you lose your Public and Private Keys.
Hence, we encourage users to save your Keys separately and make sure not to lose or reveal them to others for the risk of having your wallet hacked or misused.