Wallet
Wallet (cryptocurrency wallet) is a tool for storing private keys and interacting with a blockchain. Despite its name, a wallet does not store the coins themselves — they always remain on the blockchain. The wallet stores the private key, which gives the holder the right to control the funds associated with the corresponding address.
Main types:
| Type | Description | Examples |
|---|---|---|
| Custodial | The exchange holds the private keys | Cifra X, Binance |
| Hot | Connected to the internet, keys are controlled by the user | MetaMask, Phantom |
| Cold | Offline storage, keys are controlled by the user | Ledger, Trezor |
“Not your keys — not your coins” — if you do not control the private key, you are not the true owner of the assets.