# Web3 Wallets

## Why Wallets are Needed

Wallets are an essential tool for those interested in interacting with Web3. In traditional finance, a wallet is a *physical container* that **holds money or other assets**, credit cards, cash, your driver’s license, maybe even a photo of a loved one. Similarly, a Web3 wallet is a *digital container* that holds what are called *keys*, which allow you to **send, receive, manage and interact** your **digital assets**, such as cryptocurrencies, tokens, and NFTs, which are stored on the blockchain.

## Safety & Responsibility

One thing to note is that unless you’re using a centralized service like an exchange, you are responsible for keeping your wallet safe and secure. This ties in with the concept of self-custody previously mentioned; if you misplace or lose your keys, or if they get compromised, there is no centralized authority that can help you. Like physical wallets, it's your responsibility to ensure that it doesn't get lost or stolen.

{% hint style="warning" %}
With great power comes great responsibility.
{% endhint %}


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