What is a Crypto Wallet? Simply Explained!

When you install a crypto wallet, a private key (128 characters) and public address (42 characters) are created, using Ethereum as an example). Your public address is created on the blockchain. You protect your private key with a password, and you can usually reconstruct your private key with a seed phrase.

When another wallet sends 1 ETH to your wallet address, the blockchain records the transaction and credits your public/wallet address with 1 ETH.
When you interact with a Dapp (distributed application), the Dapp verifies you by asking to you sign a transaction with your private key. The Dapp verifies your authenticity by using your public address (or wallet address), and the Dapp allows you to spend your ETH.

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