What is a crypto wallet?
Where your crypto lives and how keys control access.
Beginner 3 min readUpdated 5/27/2026
A crypto wallet stores the keys that prove you own your crypto. The coins themselves live on the blockchain — the wallet holds the keys that let you move them.
- Custodial wallet (like your Coinwaka wallet): the platform safeguards the keys for you, with security controls and recovery options.
- Non-custodial wallet: you hold the keys yourself. Full control, but if you lose your seed phrase, the funds are gone forever.
Your Coinwaka wallet is custodial, protected by your password, 2FA, withdrawal controls, and our cold-storage custody.