Cryptocurrency is a big, complex topic, with many various sub-topics.
This post is a brief synopsis of a wallet, because you need a wallet to keep money in, and you'll likely generate many wallets if you spend any considerable length of time trading and moving cryptocurrency around.
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If you wanted to send money my way, you can send it, in order of preference, to any of the following addresses:
28nwB9Jr7hM6RSFJWw5dFXfwZqsTcY4aF9hZJnu39NMY1H3T36863hYdi7ok6B5SQT6UXUtQgusruCoXbqUZm8VJAem8piM
BCN
ddeeeubKYVhefNLxYgFeUufWYyBcnsd9TPWn7uxeEdoNJbDeLeuehYYgUw7wMnJH82FS8noajsHKGiNABUygXMdm1oKoXkhpZ
XDN
LabU4dG1pnX1Vt68bTP5C7S9fQ9ETLSQXn
LTC
rhL5Va5tDbUUuozS9isvEuv7Uk1uuJaY1T
104204447
XRP
33MbVVJv7zpqSETq8XA4Dv9RpecJJAW2LG
BTC
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So, what are all of those random numbers and letters for?
Each string above is an address to a wallet that I have access to, and which anybody could send money to. There is another key, a private key, which is held privately and allows access to the wallet, and there are ways that you can restore a wallet when it is lost, though there are also ways to lose your money and never be able to retrieve it.
Let's suppose you sign up on Coinbase or HitBTC.. affiliate links:
https://www.coinbase.com/join/5a594c5df658bf0163e82639
https://hitbtc.com/?ref_id=5a3d32050dde2
Each one of these will also act as an online wallet for you, storing your cryptocurrencies until you decide to withdraw your money to move it elsewhere.
From Coinbase, it is easy to transfer your money to your bank account or Paypal account, and just as easy to put money into your Coinbase wallet from your credit card or bank account. They also offer wire transfers and other options.
I have not used HitBTC for transferring fiat (USD) in and out, but they apparently have a working system which requires a similar set of rules for identity authentication, including scanning your photo ID.
There are also desktop wallets and mobile wallets.
There is discussion and good points and arguments regarding which way is more secure to store your money. An online wallet relies on the security and safety standards being followed by whomever is running that online service.
A desktop wallet relies on intentionally specific steps being taken by the end user to assure total security.
A mobile wallet is generally thought of as the least secure.
This brief explanation of wallets is intended as a simple, brief explanation for folks wondering what a crypto wallet is. There is a lot more information to learn about, and I'd suggest doing some online searches for:
"crypto wallet"
"crypto wallet best practices"
"crypto wallet comparisons"
"crypto wallet technical explanation"
