A Bitcoin wallet is a file that stores a collection of private keys that you need to access your bitcoin address and spend your funds. These private keys are the value of all your Bitcoin in your account. A Wallet is a free service which lets you send and receive Bitcoins.
No, this is not; this is an investment in Crypto-currencies, similar to the stock market. A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk.