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Crypto Keys, Wallets, and Addresses explainedYour private keys are in a cryptocurrency wallet, which is typically mobile or desktop software or a specialized hardware device. Your private keys are not on. You can think of a wallet as a sort of encrypted virtual keychain, containing all the information needed to access your funds on the Bitcoin blockchain. A. A private key is like a password � a string of letters and numbers � that allows you to access and manage your crypto funds. When you first buy cryptocurrency.