A wallet create and sign transactions when you want to send money, it reads the blockchain and notify when you receive funds. It’s just a database, no coins are stored.
What a bitcoin wallet does:
- It stores private keys
- It signs transactions
- It has a database of all the transactions aka the entire blockchain (if its a full node)
- It can receive transactions
- It broadcasts the transactions
- It can read the blockchain
Stores the my private keys to my BTC; creates and signs transactions. It also broadcasts transactions to the blkchn.
Describe in short what a bitcoin wallet does.
A Bitcoin wallet holds my private key and gives ability to sign transactions, generate public key to be able to send and receive bitcoins. However there are no “coins” in the wallet. There are 5 types of wallets:
- Paper wallets = highly secure not on internet but if you loose the paper you you are screwed.
- Hard wallets = UBC device, not connected to internet (like Trezor, or Ledger ) Also highly secured and easier to transact since not paper.
- Hosted wallet = 3rd party exchange like Coinbase, You do not own your private key
4.Full node - PK and full node on same hardware it is vulnerable to attack via malware security breach. Security improved with hardware wallet. - SVP Simplified Payment Verification - lowest level of security.
- Bitcoin wallet stores private key
I would say SPVs are fairly secure its just how the node is connected to the network. A wallets is technically a separate part to the node. Though they are part of the same software most of the time.
For example Ledger Live connects to the network using an SPV. So you are using a hardware wallet but connect to the network using an SPV node.
Describe in short what a bitcoin wallet does.
It holds the private key. With private key you are able to create public key and sign transactions.
Bitcoin wallet is storing your private key and signs the transactions you approved with your private key so transactions are valid, and keeps track of your funds.
- A wallet generates and holds my private key, signs the transactions and broadcasts then in the network. It also reads the blockchain and notifies me if I receive funds via an incoming transaction
- Describe in short what a bitcoin wallet does.
- A Bitcoin wallet is a software program in which Bitcoins are stored there is no coins in it :D. Bitcoin wallets facilitate the sending and receiving of Bitcoins and give ownership of the Bitcoin balance to the user with a secure private key and signature. The Bitcoin wallet comes in many forms like desktop, mobile, web and hardware.
A Bitcoin wallet stores one’s private keys - there are paper wallets, hardware wallets (cold), hosted wallets (when bitcoin is on exchange) and hot wallets which are connected to the internet, hence less secure. The wallet initiates transactions and broadcasts them to the nodes and also checks any incoming transactions and maintains the balance. When using a hardware wallet, the private key is not being shared over the internet.
- Stores your private and public keys that can sign transactions to be sent to the network to be verified by the miners
- A bitcoin wallet holds your private key, it can create and sign transactions. When receiving money a Bitcoin Wallet has to read the nodes information to verify funds disponibility.
- Describe in short what a bitcoin wallet does.
A Bitcoin wallet stores your private keys and they are used to sign transactions. They do not really hold any “coins”
- Describe in short what a bitcoin wallet does.
A wallet allows you to send and receive crypto, sign transactions with your private key and also stores your private key.
- A wallet is an application that enables to receive and send by creating a private key and stores it and signs transactions with it.
- A bitcoin wallet stores your private key, which is used to sign transactions. A wallet does not store any coins.
a bitcoin wallet is containing you’r privet key to sign you’r transactions
BTC wallet stores your private keys and lets you digital sign things and also lets you check how much btc you have
A bitcoin wallet is used to store your private keys and allows you to send transactions by creating a digital signature to verify the transaction is legitmate.
A bitcoin wallet can also broadcast your transaction to the blockchain