Crypto wallet are important tools that enable crypto holders to hold their coins. Just as you said

Digital wallets eliminates physical banks and makes it easy for people to transfer funds to their friends and family in any part of the world. Transactions does not involve an intermediary, it uses the peer-to-peer method of transaction.

Indeed, it eliminate banks and third party. This means you are in charge of your wallet. Overall, your post is good and understandable. Keep it up dear.