Crypto wallet

A crypto wallet is a tool that lets users manage their private keys, which are required to access and transfer cryptocurrency. A crypto wallet itself does not usually store crypto in the same way a physical wallet stores cash or cards. Crypto remains recorded and stored on the blockchain, while the wallet is a tool that helps users prove ownership, generate addresses, review transaction details, and sign transfers. Crypto wallets can be software-based, hardware-based, custodial, or non-custodial. Some wallets are marketed for everyday use, while others are built for offline storage, self-custody, or interaction with applications.

For example, a user who wants to receive Bitcoin must open a compatible crypto wallet, copy their Bitcoin wallet address, and provide it to the sender to receive their BTC.