A decentralized crypto wallet is a digital wallet that allows users to store, manage, and transact cryptocurrencies without relying on a centralized authority. Unlike traditional wallets, decentralized wallets give users full control over their private keys, enhancing security and privacy. They facilitate peer-to-peer transactions directly on the blockchain, eliminating intermediaries and reducing fees. This self-custody approach empowers users, enabling them to manage their digital assets independently and securely.