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A wallet is a device (a hardware device, a program, or service) utilized for the sole purpose of storing public and/or private keys. Wallets can also be used to track ownership, receive, or spend cryptocurrencies.

A hosted wallet is an online service where a user’s cryptocurrency is stored. The user can send and receive cryptocurrency through this service.

Note: These are non-technical definitions meant for a general audience and should not be used as legal definition
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