A bitcoin wallet stores your public and private keys, signs transactions, broadcasts transactions to the network, and keeps track of your balance of bitcoin.
1 Like
a) A bitcoin wallets sends signed transaction requests to the the blockchain network of computers; it is the users interface with the network. Additionally, it stores the private keys and notifies the user upon incoming transaction
1 Like
- A bitcoin wallet stores oneâs private keys for the bitcoin network.
When one wants to send Bitcoin from their bitcoin wallet the walletâs private keys will create and sign a transaction that will then be broadcasted to the bitcoin blockchain network, connecting to all computers part of it.
When receiving Bitcoin, the wallet will read the Bitcoin blockchain and notify you of the new Bitcoin available to you.
It is important to note that no coins are stored on a bitcoin wallet.
1 Like
Bitcoin Wallet: stores your private key; signs your transactions; does not store any coins.
1 Like
Bitcoin wallet is a USB type device and or a computer that enables the capture of critical data that is encrypted form, such as your private key. This encrypted P. key can store a representation of the amounts of Bitcoin you hold / buying / selling. For safe keeping these wallets enables you to store digital currency safely off line.
- A bitcoin wallet is used to store your private keys, which can be used to create and sign transactions.
1 Like
A bitcoin wallet stores your private key. This is because simplest wallet is just a private key pair written on paper. All other types of wallet can also create, sign, and broadcast transactions though so they can actually be used to send crypto.
1 Like
- A bitcoin wallet stores your private keys, creates and signs transactions when you want to send money, broadcast transactions to the network, and read the blockchain when you receive funds and notify you that you have funds to spend.
1 Like
A bitcoin wallet holds your private key(s) and is used to generate public key related to sign a transaction. It does not hold any coins.
1 Like
A bitcoin wallet is stores bitcoin private key, constructs & signs transaction, reads and broadcast
transactions.
1 Like
- Describe in short what a bitcoin wallet does.
A Bitcoin wallet is not keeping any money what it does is , it stores your private key and everytime we make a tx then is using the private key in order to inform the rest of the nodes of this event and update them and the blockchain it self with the help of the miners ofcourse
1 Like
Bitcoins are stored on the blockchain, the wallet only holds keys to access them. 
Got it, a bitcoin wallet hold the encrypted keys that represent what is actually on the block chain as indicated by the nodes.
Thanks
The keys donât really represent the value in particular, they are like keys to your safe. Keys without a safe donât have any value, same as private keys are just numbers without a blockchain.
I guess I donât got it, thanks.
So the wallet holds the keys in encrypted form (Private) to the block chain.
- Describe in short what a bitcoin wallet does.
a. It generates and holds your private keys. These private keys sign and approve transactions and
update balances, however there are no actual coins stored inside the wallet.
1 Like
- Stores and Controls your private keys.
1 Like
Doesnât really need to be encrypted, paper wallets have the public key written in plain text and you can send funds on the public address all you want and once you want to spend the funds you just import the key in a software wallet and do it.
1 Like
A bitcoin wallet stores your private key, create and sign transactions, broadcast them to the nodes so they get registered in the blockchain. It also keeps your balance updated.
1 Like
- Describe in short what a bitcoin wallet does.
- It does not store coins, it stores private keys
- It allows me to create and sign transactions
- It Broadcast transactions to the network
- It reads the blockchain
1 Like