Digital Key Management involves the processes and practices used to secure, store, and manage cryptographic keys. These keys are essential for accessing and controlling digital assets like cryptocurrencies. Each cryptocurrency wallet requires a private key to authorize transactions. If someone loses their private key or allows it to be stolen, they risk losing access to their funds permanently. Therefore, effective key management is crucial for maintaining security.Methods of key management can include hardware wallets, software wallets, and custodial services. Hardware wallets store keys offline, making them less vulnerable to online threats. Software wallets, while more convenient, require careful security practices to protect against hacks.Additionally, users can adopt practices like key backups and multi-signature setups, where multiple keys are needed to authorize a transaction. This adds an extra layer of security. In summary, Digital Key Management is about safeguarding the keys that control digital assets, ensuring that users maintain access while protecting against theft and loss.