Definition
A cryptocurrency wallet is software, hardware, or a coordinated system that helps users manage addresses, view assets, and construct or authorize transactions. The familiar word can be misleading because coins are not literally stored inside the application; the blockchain records the relevant balances or spendable outputs, while the wallet manages information and access. Some wallets control private keys directly, some work with external signing devices, and watching-only wallets can display activity without spending authority. Custodial services may use the same label while keeping keys under the provider's control. Wallets also differ in supported networks, recovery standards, transaction features, and privacy behavior. A displayed balance does not prove that the user has every secret or configuration detail needed for recovery. Evaluating a wallet therefore involves identifying who can sign, how transactions are verified, what is backed up, and which dependencies remain if the usual interface becomes unavailable.
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