A crypto wallet doesn't actually "store" your cryptocurrency — the crypto lives on the blockchain. What a wallet stores is your private key: the unique password that proves ownership. Lose your private key with no backup, and your crypto is gone permanently.
💡 "Not your keys, not your coins" — if you don't control your private keys, you don't truly own your crypto. If an exchange collapses (like FTX did in 2022), you could lose everything stored there.
The four main wallet types
🌐 Hot wallets
Software wallets connected to the internet. Free, easy to use, great for everyday transactions — but more vulnerable to hacking.
🧊 Cold wallets
Hardware devices storing keys offline. The gold standard for security. Costs €70–€200 but well worth it for significant holdings.
🔄 Multi-currency
Wallets supporting many different cryptocurrencies in one place. Very practical if you hold assets across several blockchains.
🏦 Custodial wallets
The wallet provided by your exchange. You don't control the private keys. Convenient for beginners but carries counterparty risk.
Top 4 wallets in 2026
Which wallet works on which blockchain?
Not all wallets support all blockchains. See our full wallet and gas fees guide for a complete compatibility table and explanation of gas fees.
⚠️ Seed phrase warning: When you set up a non-custodial wallet, you'll receive a seed phrase — typically 12 or 24 words. Write this down on paper and store it somewhere physically safe. Never store it digitally, never photograph it, never share it.