Wallets

Digital wallets, commonly referred to as a wallet, hold your digital assets, such as your cryptographic currency (cryptocurrency/token) and/or your cryptographic art (NFT). It can easily be thought of as a bank account that can easily hold specific currencies and art. For buying and selling art on the Tezos blockchain, you need to use a wallet that can use its cryptocurrency; tez. Two very popular wallets are Temple and Kukai and are addressed in detail in the Hot Wallets section. The most popular cold wallet at the moment is Ledger. Read more about it in the Cold Wallet section.

Wallets are categorised as either cold or hot. A cold wallet is not connected to the internet, holding your assets in a piece of hardware. It is the safer option but takes longer to use. A hot wallet is connected to the internet via software - usually, an extension in your browser - and is much faster and easier to use but trades off the risk of cyberattacks.

The use of wallets is as follows:

1. NFTs and tokens (tez) that you do not plan to use in the near term - store (protect) in a cold wallet.

2. NFTs and tokens (tez) that you need to use - store in the hot wallet eg. listing an item for sale, or minting.

Some great detail about digital wallets, without the complexity, is on the Investopedia site.