Crypto Wallet

A crypto wallet is a software or hardware tool used to store and manage cryptocurrency private keys, which are required to access the crypto tokens stored on a blockchain. While the actual cryptocurrencies remain on the blockchain, a crypto wallet allows users to interact with them, send and receive tokens, and sign transactions securely. There are two main types of wallets: hot wallets, which are connected to the internet (like software or web-based wallets), and cold wallets, which are offline and more secure from hacks (like hardware wallets or paper wallets). A crypto wallet generates two types of keys: a public key, used as the wallet address for receiving tokens, and a private key, which must be kept secret as it is required to access and control the wallet's assets. Examples of popular wallets include MetaMask (hot wallet) and Ledger (cold wallet).