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The Difference Between a Crypto and Fiat Wallet

The obvious difference between these two wallet types is what they store inside them. You cannot hold any cryptos in a fiat wallet. But you can use your fiat wallet to transact on your choice of exchange faster, making them a partial replacement for your bank account. When you want to transfer money back to your bank, you can set up a transfer, which should take a few days. But you don’t need to worry about issues related to long wait times for crypto transactions.

You do not need a fiat wallet to take part in the crypto economy in any way. However, it’s a tool that often makes it easier to do efficiently.