If you want to own cryptocurrency, you need a crypto wallet. The wallet doesn’t store the actual coins, but it does hold the private keys — or passwords — you need to access your crypto. Read on to learn how to set up popular wallet options and how to transfer crypto into them.

A crypto wallet is the tool you need to hold and use digital currencies, like bitcoin (BTC-USD) or XRP (XRP-USD). The wallet doesn’t store cash or coins. These are stored on the blockchain — a secure, public record book of transactions. Your crypto wallet holds the secret passwords, called private keys, that let you access and spend your cryptocurrency.

There are different kinds of crypto wallets, and each generally comes with trade-offs…