A decentralized wallet is a digital asset management tool that allows users to store and manage their cryptocurrencies without relying on a central authority. Operating on blockchain technology, decentralized wallet provide users with full control over their private keys, ensuring greater security and ownership of their assets. Unlike centralized wallets, which are managed by third-party services, decentralized wallets eliminate the need for intermediaries, reducing vulnerability to hacks and service disruptions. Key features often include multi-currency support, integration with decentralized finance (DeFi) protocols, and cross-platform accessibility. Users are responsible for safeguarding their private keys and seed phrases, which are crucial for accessing and restoring their wallets. This self-custody approach enhances privacy and control, offering a more secure and transparent alternative to traditional financial systems.