This content is for educational purposes only and is not financial advice. bunq doesn't give trading advice. Always do your own research or consult a qualified financial advisor before making any investment decisions. Cryptocurrency investments come with risks, including the potential loss of the principal invested. Prices can fluctuate significantly. bunq Crypto is powered by our partner Kraken.

A crypto wallet is how you store, send, and receive cryptocurrency. Despite the name, it doesn't hold coins like a physical wallet holds cash. It holds the keys that prove you own assets recorded on the blockchain, and lets you authorize transactions.

How a crypto wallet works

Every wallet is built around two keys:

Public key. Your address on the network, like an account number others use to send you crypto. See public key for more detail.

Private key. A secret code only you should know. It proves ownership and signs transactions. Anyone with your private key can move your funds. See private key.

When you send crypto, your wallet uses your private key to sign the transaction. The network verifies the signature against your public key, then updates the blockchain.

Hot wallets vs cold wallets

Hot wallets connect to the internet, mobile apps, browser extensions, or exchange accounts. They're convenient for everyday use but more exposed to online threats.

Cold wallets stay offline, typically hardware devices or paper backups. They're harder to use for frequent trading but offer stronger protection for long-term holdings. Learn more in our cold wallet entry.

Wallets and bunq Crypto

When you buy crypto through bunq, you don't need to manage separate wallets or private keys yourself. Your assets are held securely through our partner Kraken, while you buy, sell, and track everything in the bunq app alongside your Bank Accounts.

Explore bunq Crypto to get started from as little as €1.

Frequently asked questions

Do I need a wallet to buy crypto?

You need somewhere to hold your crypto, but that can be a custodial service like bunq and Kraken, where the platform secures the keys for you, or a self-custody wallet where you manage keys yourself.

Can I lose my crypto if I lose my wallet?

With self-custody wallets, losing your private key or recovery phrase can mean permanent loss of access. With bunq, your crypto is held through a regulated partner, you log in to the app rather than managing seed phrases yourself.

Is a wallet the same as an exchange?

Not always. An exchange is where you trade; many exchanges also provide wallet-style storage. Some wallets only store and send crypto without offering trading.