 TITLE: What Is a Cryptocurrency Wallet? CONTENT: ### Software Wallets\nYou can download mobile apps and desktop software wallets, which may also be hot wallets. Storing the wallet locally could add a layer of security, as you don't risk losing your wallet if a custodian is compromised.\nBut someone could steal the information if your computer or mobile device gets infected with malware. You also risk losing the keys if your device is lost, stolen or damaged, although some cryptocurrency wallets have 12- to 24-word recovery phrases that you can use to get your wallet back if that happens. END