A crypto wallet is like your leather wallet. If you want to hodl Bitcoin, Ethereum, NFTs or any other cryptocurrencies then you need a wallet to store them.
When you set up a wallet, you automatically get a pair of cryptographic keys; the public key and the private key. These keys enable you to authenticate and validate transactions, or view your account balance.
There are two types of wallet: hardware and software. A software wallet will store your pair of keys locally on your phone, tablet or computer, while the hardware wallet will store them in a highly secure chip.