Last Updated on 7. August 2023 by Mario Oettler

Wallets take care of creating and storing private keys. They support users signing transactions and display the balance of the user’s accounts. Some wallets also show the tokens (for example, ERC20 or ERC721) a user holds.

In general, we distinguish between two types of wallets:

1. Custodial wallets: Like a centralized exchange. They keep the private key for the users.
2. Non-custodial wallets: The user is in control of the private key himself.