A wallet is what you use for storing your digital currencies such as Bitcoin, Ethereum, Ripple and Litecoin. It is very much similar to a bank account. Rather than an account number, the wallet has a unique address and this is used for storing and accessing the digital coin. It also contains private keys which are required to authorize transactions. It is important to know the difference between a wallet and an exchange. An exchange is where you buy or sell Bitcoins while a wallet is where you keep your digital coins.