What is a crypto wallet and why do I need one?

Your cryptocurrencies are secured on the blockchain. To interact with a blockchain, you must have access to a private key. Your private keys are unique to you, proving ownership of your cryptocurrencies and other digital assets such as NFTs.

A crypto wallet is used to hold these private keys and therefore allows you to transact on the blockchain as well as monitor your investments. As the crypto wallet itself does not store your cryptocurrencies, if you lose access to these private keys, you lose access to your assets. 

There are many different wallet providers, with some offering higher security than others. We recommend completing your own due diligence before choosing the wallet which is right for you. 

Note: When you set up a crypto wallet you’ll be given a Secret Recovery Phrase, memorize or store this phrase somewhere secure. If you lose this phrase or forget what order the words are in, you will lose access to your wallet and it will be unrecoverable.

Please keep in mind that your wallet must be compatible with ETH, the only cryptocurrency we accept for the purchase of NFTs on Artsy.