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A typical cryptocurrency wallet is a private key storage tool, which works more or less like passwords to access digital assets. Wallets that fall into this category are online or web-based wallets, mobile wallets, and desktop wallets. Online wallets are cloud-based applications that provide wallet services to cryptocurrency professionals. Mobile wallets work almost the same as crypto wallets online, but have similar security risks associated with online wallets. Desktop wallets transcend some of the security weaknesses associated with other types of software wallets available today.