(Photo : Screenshot From Commons.Wikipedia.org) How to Make a Crypo Wallet or NFT Wallet First things first, what is a cryptocurrency wallet? A crypto wallet uses software that gives the users safe access to blockchain networks to send or receive crypto. To simplify everything, a crypto wallet is just like a traditional wallet or bank. The difference is that it actually holds unique digital passwords otherwise known as "private keys" giving users transaction access. Custodial Wallets VS Non-Custodial Wallets Let's look into the difference between custodial wallets and non-custodial wallets. Custodial Wallets Custodial wallets come from centralized exchanges like Coinbase which holds the cryptocurrency for the user as a "custodial or "hosted" wallet. These are very convenient since they don't take much to set up. For those that want to trade NFTs, however, they would need non-custodial wallets.