Wallets are methods of storing cryptocurrency and come in different formats. Cryptocurrency can be stored online, on a desktop, on a mobile device, on a specialist hardware device, or even on paper. Each wallet type has pros and cons, with tradeoffs between security and convenience apparent with each type. Some wallets come with their own private keys, which is the crypto equivalent of your online banking details – if someone has your private key they can access your funds and empty your wallet. Therefore, if you sign up for a wallet that doesn’t give you your private keys (e.g. online wallets) then you are relying on their security protocols to keep your funds safe.