Cryptocurrency:

Cryptocurrencies are virtual digital assets created by computer software. These currencies are usually built on software in the form of blockchain. People believe that holding money in cryptocurrencies is more secure because the accounts of these currencies are stored in blockchain software that cannot be changed, whereas money in banks can be accessed by anyone who has access to the records. Or can be changed through hacking. Cryptocurrencies are traded through crypto exchanges. There are two types of crypto exchanges: centralized and decentralized.

*Most cryptocurrencies are traded on centralized exchanges such as Binance, Coinbase, Bybit, Bitget, and OKX due to lower trading fees than decentralized crypto exchanges. Centralized crypto exchanges are the only means, where cryptocurrencies can be purchased using local fiat currencies such as bank transfers and credit cards.*

Decentralized crypto exchanges are considered more secure than centralized crypto exchanges because in order to trade in centralized crypto exchanges you have to deposit money in those exchanges whereas, in decentralized crypto exchanges, you have no such restrictions.

People hesitate to transfer money to centralized crypto exchanges because there are often certain conditions for withdrawing money from these centralized crypto exchanges, such as how much money can be withdrawn, and not taking responsibility if the exchange is hacked. Therefore, your assets are at the mercy of centralized crypto exchanges.

If a centralized crypto exchange runs away with your money, it's almost impossible to get that money back, so people prefer to keep their assets in non-custodial wallets because a user can have full control over these wallets. With these wallets, you can directly buy and sell cryptocurrencies on any decentralized crypto exchange.

Wallet:

Cryptocurrency wallets are just like the wallets we carry around in our pockets, the only difference is that the wallets we carry around in our pockets contain paper currency and we can touch them, but with cryptocurrency wallets, money in wallets is in the form of a code and cannot be touched. You can also carry these cryptocurrency wallets in your pocket. If you have a smartphone, you can access your wallet from anywhere in the world with the help of a mobile application, like 'Metamask' and 'Trust Wallet'.

Blockchain:

Records for both cryptocurrencies and cryptocurrency wallets are stored on software in the form of a blockchain. Records in any blockchain are made up of a long chain of blocks, called transactions in blockchain terms. These transactions i.e. records are stored together in every single block and thus one block after another is formed. How many records will be stored in a block is determined by the blockchain software developers, when writing the blockchain code, by specifying the number of records in the blocks.

Any block is nothing more than a list of accounts. Think of it like when you buy a bus ticket, the ticket is torn from a bundle of tickets. Think of the ticket bundle as a block and the tickets are records. So a stack of such tickets bundles together forms a blockchain.

  This software is called blockchain because of the relationship of one block to another block, now it is important to understand what that relationship is. Each new block is built with the help of the previous block. You may be wondering how the first block of blockchains would be formed because there will be no blocks before it. The blockchain software is written in such a way that the first block is always created by itself so that it can be used to create the next block and the chain can continue. In this way, many blocks form a chain of blocks with the help of each other, so this software is called a blockchain.