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What is Cryptocurrency Wallet?

A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin. Most coins have an official wallet. In order to use cryptocurrency, you’ll need to use a cryptocurrency wallet.

Some wallets are built for a single cryptocurrency, some can be used for more than one coin, some wallets you’ll manage yourself, and some (like those found on exchanges) will be custodial.

Suffice to say, there are a range of wallet types to choose from. Below we discuss how digital wallets work, talk about the different types of wallets, and give some advice on which wallets to use in which situations.