Wallet
Quick Answer
A cryptocurrency wallet stores private keys enabling users to send, receive, and manage digital assets. Types include hot wallets (MetaMask), cold wallets (Ledger), and smart contract wallets (Safe).
Full Definition
A cryptocurrency wallet is software or hardware that stores private keys and enables users to manage digital assets. Wallets don't actually store crypto — funds exist on the blockchain, the wallet holds controlling keys. Types include hot wallets (MetaMask, Trust Wallet), cold wallets (Ledger, Trezor), and smart contract wallets (Safe, Argent). In crypto payments, the customer's wallet is the equivalent of a bank account.
Related Terms
WalletConnect
WalletConnect is an open protocol for secure communication between dApps and wallets via QR code or deep link — a standard integration for crypto payment checkout flows.
Web3
Web3 is the vision for a decentralised internet built on blockchain where users own their data and assets. Web3 payments enable permissionless, borderless, programmable money transfers.
Webhook
A webhook is an HTTP callback delivering real-time payment notifications (received, confirmed, settled) to the merchant's server — essential for automated order fulfilment.
Wrapped Token
A wrapped token is crypto pegged to another asset on a different chain (e.g., WBTC is Bitcoin on Ethereum), enabling cross-chain liquidity for payments and DeFi.