Crypto wallet for end user is similar to a mobile banking app where they can see their balances and make transactions.
Main differentiation – crypto wallet allows to hold and manage blockchain tokens (including cryptocurrencies).
As blockchain transactions are decentralized, no central party has control over user holdings and transactions. All other things being equal, cryptowallets arguably are more trustworthy and independent when compared to bank accounts or other asset holdings controlled centrally.
Technically crypto wallet is simply an address in a blockchain network. User or organisation controlling the secret key to the wallet also controls the tokens and crypto coins in the wallet.
