Account Balance
An account balance is the amount of money that an individual or company holds in a specific financial institution, such as a bank. In the context of cryptocurrencies, it refers to the total amount of cryptocurrency held in a digital wallet. Account balances can be viewed on most cryptocurrency exchanges and wallets through their respective websites and/or mobile applications.
When transacting with cryptocurrencies, users should always double check their account balances before sending payments to ensure they have enough funds in their wallet to cover the transaction. If there are not enough funds available, then the payment will fail. Additionally, since prices for buying or selling cryptocurrencies may vary from one exchange to another, users should always make sure that their account balances match up with what is currently being offered on each particular exchange before making any trades or transactions.
In some cases, fees may also need to be taken into consideration when checking your account balance due to certain withdrawal thresholds set by cryptocurrency exchanges which can cause discrepancies between your current balance and what you’re able to withdraw at any given time. Furthermore, if there are multiple currencies stored within a single wallet address (known as multi-currency wallets), users will need to keep track of all individual asset amounts separately since these types of wallets do not give an overall combined balance like other single currency wallets do.
