A bitcoin wallet is a digital storage space for bitcoins, which are units of digital currency. It's like having an online bank account that allows you to send and receive bitcoins with other users on the network. Just as you would store physical cash in a wallet or purse, you can also store your bitcoin in various types of digital wallets. These wallets come in different forms such as software, hardware, mobile apps, web-based services, and even paper printouts. The most common type is the software wallet which runs on a computer or smartphone.