A wallet in cryptocurrencies is akin to a bank account with regular money. A place to store value for use at a later time.

Wallets take many forms, including on pieces of paper (paper wallets), on devices that look like USB sticks or keychains (hardware wallets), and wallets on apps or on websites (hot wallets). All of them store the value of the cryptocurrencies by associating them with a private key and an address, and can be moved from the wallet at any time by making a transfer to a different address.