A web wallet is a wallet that the user reaches through a web browser instead of a mobile app, desktop program or hardware device. The term is used mostly in crypto, where it covers two different designs. A hosted web wallet is run by an exchange or wallet company that keeps the private keys on its own servers, making it a form of custodial wallet; the user logs in with a password and second factor. A non-custodial web wallet, often installed as a browser extension such as MetaMask, keeps the keys on the user's device and lets them connect directly to decentralised applications. Web wallets are convenient and are a type of hot wallet, since they are always connected to the internet. That also makes them exposed to phishing sites, malicious extensions and approval scams. In ordinary payments, web wallet can also mean the online version of an e-money or payment account.
Last updated 15 Nov 2026