What Is a Crypto Wallet?
A cryptocurrency wallet is a wallet that allows you to store your public and private keys and passcode through which you can access your cryptocurrency on the public ledger known as the blockchain.
The wallet does not store the cryptocurrency itself. It only keeps the required information to access your cryptocurrency on your specific address on the blockchain.
You must have a cryptocurrency wallet address to trade your cryptocurrencies either with other users or on crypto exchanges. (link to MP)
We mentioned earlier that there are two types of crypto wallets: hot and cold. Let's find out what each of them does.