Bitcon wallet is the application that is used to store your bitcoin or coins. This is the tool that helps bitcoin and also other crypto currencies to collect the coins of currencies. This is also used to receive and to send the coins to one wallet to other.  Without the wallets all crypto currencies will be useless just imagine that you have a lot of coins and you have wallet to store, surely those coins will be thrown away. There are a lot of wallets that come out because this is very profitable also. Some wallets are charging a percentage in each transaction you will do.