Wallet (Crypto Wallet)
Software or hardware that stores your private keys and lets you send and receive cryptocurrency.
Explained Simply
A crypto wallet doesn't actually store your coins — it stores the private keys that prove you own them. There are several types: hot wallets (software, connected to the internet), cold wallets (hardware devices, offline), custodial wallets (exchange holds your keys), and non-custodial wallets (you control your keys). The saying 'not your keys, not your coins' reflects the importance of self-custody.
Example
MetaMask is a popular hot wallet for Ethereum. Ledger is a popular hardware (cold) wallet for storing crypto offline.
Related Tools
Put this knowledge into practice with these tools.
Related Terms
This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult a qualified professional for advice specific to your situation.