A Newbie's Explanation of Crypto Wallet

Imagine you're a businessman who makes massive income daily. As your income grows, you're constantly faced with the challenge of counting, keeping and managing your funds. The stress of carrying cash around plus the risk of losing or being stolen is spectral. What would solve your pickle?

Of course, you would opt to open a bank account to deposit your funds in the bank. A great solution! In the crypto world, instead of depositing your cryptocurrency in a bank, you opt for a platform called wallet. Now, you have a hint of what we're talking about, let's answer this question below. 

What is a Crypto Wallet?

A crypto wallet is a service that gives you access to your digital assets like cryptocurrency and NFTs. Your digital assets are stored on the blockchain and crypto wallet enables you to store, send, receive and manage them. 

Crypto wallets hold the public and private keys needed to access these assets making it possible for one to be able to interact with the blockchain. When you hear terms like Bitcoin, Ethereum and Solana, it's not magic words, You can have access to these blockchain with the help of a crypto wallet. 

Wrapping Up 
We have seen the basic concept of crypto wallet and how it's central to the activities on the blockchain. If you're interested in being on-chain, then certainly you need a crypto wallet to perform your transactions and ensure the safety of your digital assets.