A crypto wallet stores the keys that let you send and receive digital assets. Despite the name, the coins live on the blockchain, and the wallet holds the keys that prove they are yours.

Types of wallet

Wallets can be software or hardware based, and custodial or non-custodial, depending on who holds the keys. Hot wallets stay online for convenience, while cold wallets stay offline for security.

What to keep in mind

Choosing a wallet is a balance of convenience and control, and keeping its keys or recovery phrase safe is essential.