Wallet

The crypto-wallet is where you store your digital assets such as currencies, tokens, NFTs, etc. Your crypto wallet can contain a variety of different tokens, and it provides you with access to them. The term “wallet” is a bit of a misnomer, however, because your wallet don’t actually "store" your digital assets. Instead, they provide you with the ability to access and manage them through your private keys. There's two main types of wallets: self-custodial and non-custodial. If you have a self-custodial wallet, you control the private keys necessary to access your digital currency. This means that you are responsible for securing your private keys and keeping them safe. If you lose your private keys, you lose access to your digital currency. On the other hand, nobody can touch your tokens or "freeze" your digital assets - you are in full control of them. A custodial wallet, on the other hand, is a wallet that is managed by a third-party custodian. The custodian is responsible for securing your digital currency and providing you with access to it. Many banks and exchanges offer custodial wallets. Crypto wallets can also be used for the authentication of users on decentralized applications. In this case, your identity is associated with a public address, which is similar to a username. This allows your digital identity to be unique and universally recognized across the internet. (Yes, no more passwords!)