A cryptocurrency wallet or a crypto wallet is a software solution used to store your digital assets securely. A crypto wallet can be of three kinds - web-based, software, or hardware (offline).
Since cryptocurrencies are not tangible assets and are virtual, crypto wallets store the private cryptographic keys used to access the tokens held on a particular blockchain.
Unlike a physical wallet that stores cash, a crypto wallet functions more like a debit card. It does not store tokens but allows users to transact with their tokens. Users can store their cryptocurrencies securely in their crypto wallets and send and receive payments in cryptos using them. Some wallets also offer support for staking as well as storing NFTs.