- A bitcoin wallet is an application for users to send and receive bitcoin. It stores your private keys, creates and sign transactions, broadcasts the information to the network and can read blockchain.
1 Like
A bitcoin wallet saves your private key and communicates with the blockchain nodes.
1 Like
A bitcoin wallet stores you private keys which allow you to sign your transactions.
1 Like
- A bitcoin (offline) wallet is wallet that stores your private key. The wallet can then sign your transactions without letting your private key get in contact with the internet.
1 Like
The Wallet is an important tool in dealing with Bitcoin. Once you have purchased bitcoins, it is possible to keep them in a wallet, a physical or digital electronic wallet. It makes it possible to avoid the risks of piracy which cryptocurrency platforms may suffer. It comprises two elements: a public key, known to all, which corresponds to a bitcoin address, and a private key, known only to the holder of the wallet. Physical wallets look like USB keys. Two big players compete for the market, the French Ledger and the Czech Trezor. Digital wallets, software portfolios, can be accessed on computer, mobile and desktop.
A bitcoin wallet is able to receive and send funds on the bitcoin blockchain. using your public key you can sign transactions and broadcast them to nodes with your wallet. the wallet also regularly checks your balance to see if someone has sent you any funds.
- Describe in short what a bitcoin wallet does.
A bitcoin wallet will hold private keys and public keys that belong to you. You can start new transactions to send bitcoin or you can receive it via your public key. The transaction is verified and signed within the bitcoin wallet.
1 Like
A bitcoin wallet stores your private and public key, reads the blockchain so you can receive transactions, when sending btc it signs the transaction so it can be verified and changed on the blockchain. It doesn’t store coins but can tell you how much you have spent.
1 Like
A bitcoin wallet stores your private keys, as well as creates, signs, and broadcasts transactions made from the wallet.
1 Like
A wallet store private keys in a secure chip that cannot be tempered with. It creates your transactions by signing the transaction with PK that you own in its secured chip. Then, it sends the transaction to several local nodes in order to allow the transaction to be add to the ledger by miners that are running the SHA232 algorithm at target difficulty.
A Bitcoin wallet stores your private keys, creates transactions, signs transactions, broadcasts transactions, generates public addresses to receive Bitcoin, and reads the blockchain to update balance.
1 Like
1.) It does not hold bitcoin, it only stores your private keys.
1 Like
- a bitcoin wallet stores your own private keys which are used to sign transactions to send or receive funds. Hosted or custodial wallets are not as secure as they control the private keys and these can be vulnerable to hacks.
A Bitcoin wallet holds the private key and can be held on a physical device,application, or service and make it possible to receive or send bitcoins on the blockchain.
1 Like
1 - A bitcoin wallet is a way of accessing the ‘coins’ registered to the the private key.
1 Like
A btc wallet stores the users privat and public key. Furthermore, it signs transaction and broadcast these to the network (nods, miners) and it reads the blockchain and keeps the user informed about received and spent funds.
1 Like
A BTC wallet stores your private key. The BTC network knows how much BTC is in this wallet and will allow you to send it to another wallet if you have the private key.
1 Like
It holds your private key which is used for signing “spend” transactions. This private key is also used to generate public keys used to receive transactions. The wallet does not know or care what is being sent to it, because there is really no bitcoin in the wallet. The wallet uses (one of?) its public keys to see what the balance is in the wallet.
1 Like
A bitcoin wallet can save your private keys, then it creates and signs transactions, shares it with other computers and after you get your funds the wallet scans the blockchain and notifies you that you have funds to spend.
1 Like
Stores your private keys, it signs, sends and recieves transactions.
1 Like