What Is Crypto Wallet? Meaning & Example
Definition
A crypto wallet is software or hardware that stores the keys needed to access and move your crypto. The wallet does not hold coins itself; it holds the keys that control them.
Related terms
A private key is a secret code that proves ownership of crypto and authorizes transactions. Anyone with your private key can move your funds, so it must never be shared.
Seed PhraseA seed phrase is a list of words, often 12 or 24, that can restore a crypto wallet. It is the master backup of your keys and should be stored offline and kept secret.
Cold WalletA cold wallet keeps crypto keys offline, often on a dedicated hardware device or paper. It is generally safer against online attacks but less convenient.
What is Crypto Wallet?
A crypto wallet is software or hardware that stores the keys needed to access and move your crypto. The wallet does not hold coins itself; it holds the keys that control them.
Can you give an example of Crypto Wallet?
A mobile wallet app lets you send, receive and view your crypto balances.