DISCLAIMER :
This article and its content have been produced and disseminated for persons outside of the United Kingdom. The information provided is not directed at or intended for distribution to, or use by, any person or entity located within the UK. The financial products and services mentioned in this article are not eligible for the UK. Cryptoassets are classified as Restricted Mass Market Investments in the UK, meaning that they are high-risk investments and are not suitable for most retail investors.

If digital assets live on the blockchain, then crypto wallets are what let you access them. But don’t let the name fool you—a crypto wallet doesn’t actually hold coins inside. Instead, it stores your keys, which allow you to control your digital assets.
Let’s break it down.
Every wallet comes with two key parts:

• A public key – this is like your wallet address. You can share it with others to receive assets.
• A private key – this is like your secret password. You must never share this with anyone. It proves you’re the owner.

There are two main types of wallets:

1. Hot wallets – connected to the internet. These include mobile apps or web extensions. They’re easy to use but should be secured carefully.
2. Cold wallets – not connected to the internet. These are physical devices like USB drives, used for safely storing large amounts of digital assets.

When you use a wallet, you’re not moving tokens in and out of it. Instead, you’re proving that you own a record on the blockchain—and the wallet helps you interact with that record.Wallets let you send, receive, and manage your digital assets across different blockchain networks. Without a wallet, you can’t do anything on the blockchain.

Important tip: if you lose access to your private key or backup phrase, you may lose access to your assets permanently. That’s why wallet security is taken so seriously. In short, a crypto wallet is your digital keychain—your way to safely access and manage everything you own on the blockchain.

Please note: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve significant risk and may not be suitable for all investors. Readers should conduct their own research and consult financial advisors before engaging in any crypto-related activities. Bitsquack does not guarantee specific outcomes and disclaims all liability for potential losses arising from investment decisions.