Its pretty obvious, since its a compressed key, It starts with either L or K and there is no L in the key. That leads me saying ( "first" thing you need is a wallet )
That's actually the most confusing part. For anyone familiar with public/private key generation it's obvious that a compressed key has to start with K/L.
However, it has literally nothing to do with "That leads me saying ( "first" thing you need is a wallet )". I mean there is no connection whatsoever. Even connecting it to the 2nd statement(about private key know-how) would make more sense.
One of the hardest parts of making a puzzle is to ensure that each clue doesn't have an infinite number of potential meanings.