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What is a crypto wallet?

A crypto wallet stores the keys that give you access to your coins. The coins themselves live on the blockchain; the wallet proves they are yours.

Hot and cold wallets

A hot wallet is connected to the internet, for example an app or browser extension. It is convenient but more exposed to hacking. A cold wallet, such as a hardware device, stays offline and is safer for larger amounts.

Exchange or your own wallet

On an exchange, the company holds your keys for you. With your own wallet, you hold the keys and are fully responsible for them.

Your recovery phrase

Most wallets give you 12 or 24 words that can restore your wallet. Write them down offline and never share them or type them into a website. Anyone with the phrase can take your funds.

Getting started

Choose a well-known wallet, download it only from the official site, back up the recovery phrase, and test with a small amount first. Also read our safety guide.