What is a crypto wallet?

What a crypto wallet is, what it does, and how non-custodial wallets like My Wallet work.

A crypto wallet is an app or device that lets you store, send, and receive crypto—and proves ownership by using private keys (kept by you in non-custodial wallets). A wallet can be software (like My Wallet) or hardware (like Ledger).

🤔 What Types of Crypto Wallets Are There?

There are two main types of crypto wallets:

• Custodial: Telegram Wallet, Crypto Bot, etc.

• Non-custodial: My Wallet, Tonkeeper, Trust Wallet, MetaMask, Exodus, Atomic, Ledger

To understand the key differences, check out our detailed article about wallet types.

💱 What Can You Do with a Crypto Wallet?

Crypto wallets offer more than just storing and transferring funds. Users can also:

• Manage tokens and NFTs

• Track asset prices and portfolio value

• Trade on decentralized exchanges (DEXs)

• Use decentralized applications (dapps)—from games to DeFi tools