What do crypto wallets do

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Cold Wallet vs. Hot Wallet: Where Is Crypto Stored?
Crypto wallets hold the private keys to your cryptocurrency and keep them safe. They come in several varieties, and they can be either. As mentioned earlier, a wallet doesn't technically hold a user's coins. Instead, it holds the key to their coins, which are stored on public blockchain networks. A crypto wallet is a device or program needed to access your crypto. There are different types of crypto wallets, such as online accounts or physical paper.

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Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Key Takeaways: A cryptocurrency wallet is a device or program that stores your cryptocurrency keys and allows you to access your coins. Use these with caution because Bluetooth is a wireless signal that can be accessed by unwanted parties when it is turned on.