A cryptocurrency wallet is like your 'account' for the blockchain. It stores the public and private keys. The public key (or 'public address') is like a username and it tells others where to send crypto if they want to pay you. You private key is like your password, and gives full access to your wallet. You should never share your private key with others, as they would then be able to empty out all funds from your wallet. If you lose your private key then you will be unlikely to able to recover your wallet (there is no password reset like a normal account). In addition you can also send/receive crypto, store crypto, interact with decentralised applications, and 'sign' messages using your credentials.
Here are some of the wallets that we recommend:
For Ethereum and ERC-20 Tokens
Metamask wallet is one of the oldest wallets in the Ethereum space. They have a mobile wallet and a browser extension. They are backed by Consensys, who also back Transak, and is owned by one of the co-founders of Ethereum.
Bitcoin, Litecoin, DigiByte, Dogecoin, Dash, Ethereum, Tron, Klever
Klever Wallet supports a wide range of cryptocurrencies and also supports other features such as staking.
All other tokens
Trust wallet is backed by Binance, and supports the greatest range of crypto assets.
Elrond wallet can be used for storing eGLD and other tokens on the Elrond blockchain.