Crypto Wallet
Software or hardware for storing private keys and accessing cryptocurrencies.
A crypto wallet doesn't store the cryptocurrencies themselves (they exist on the blockchain), but the private keys that prove ownership of them. There are two types:
•Hot wallet (online) — software-based, always connected to the internet. Convenient for daily use, but less secure. Examples: MetaMask, Trust Wallet, Binance Web3 Wallet.
•Cold wallet (offline) — a hardware device that stores keys offline. Much more secure for storing larger amounts. Examples: Ledger, Trezor.
Most important concept: seed phrase (mnemonic) — 12 or 24 words that are the wallet's backup. Whoever has the seed phrase has access to all funds. Never share it with anyone.