A crypto wallet is software or hardware that stores the digital keys you need to access and control your cryptocurrencies. It does not store the actual coins, but rather keeps the secret codes that prove you own them and allow you to send them to others.
You can download a wallet app on your phone that generates a unique address for you, like a bank account number. When a friend wants to send you Bitcoin, they send it to that address, and you use your wallet to access it and send it to others.
Greater Fool is a free Chrome extension that explains terms like this in place. Highlight a word on any page, click Explain, keep reading.
Add to Chrome (free)