- Stores your private key which is used to sign transactions.
1 Like
Bitcoin wallets store private (and public keys) and the data (number of coins, transactions, etc) associated with its contents. The wallet will sign for transactions before being broadcast to the network of nodes, miners, and SPVs.
1 Like
A bitcoin wallet stores your private keys (PK). It initiates transactions. When we want to send a transaction (tx), a wallet uses the PK to sign the tx, then broadcasts it to the netwoork. The nodes change the entries in their database (they send money from our account to the recipients account in their database), that’s why there are no coins in our wallets.
We can store our private keys in different ways: run a full node, use a SPV, a paper wallet or a hardware wallet (safest - off-line).
When we use hosted wallets we do not owe our PK, they are owned by the owner of the server that has cold storage of the PK. We only communicate with the owners (exchange) through apps.
1 Like
a wallet has NO coins it stores your private keys. that’s it
1 Like
- Describe in short what a bitcoin wallet does.
A bitcoin wallet holds your private keys and signs/validates transactions. It should be kept offline so that your private keys are not vulnerable. It doesn’t hold your bitcoin; your bitcoin is on the blockchain. Your wallet allows you to access and use your UTXO’s which are on the blockchain.
1 Like
- stores private keys
- creates and signes transactions
- broadcasts transactions
- reads Blockchain
1 Like
Describe in short what a bitcoin wallet does.
A wallet generates a private key (derived from a 24 word recovery phrase) then stores it.
- It can receive transactions by using the private key to generate an address which you give to the sender
- It can send transactions by using the private key to create and sign a transaction. This transaction gets broadcast to the network
- The wallet may have other functions like a dashboard which summarizes your holdings by querying the blockchain for transactions associated with the wallet
1 Like
A bitcoin wallet holds information related to your cryptocurrency funds and the private keys used to sign transactions
1 Like
The wallet stores our private key which we can use to sign the transactions. Then broadcast to the node. You can also receive bitcoin from other parties. There is no bitcoin in the wallet, only keys to know your balance.
1 Like
- Describe in short what a bitcoin wallet does.
A bitcoin wallet holds your private key and uses it to create, sign and broadcast transactions and reads from the blockchain.
1 Like
- A Bitcoin wallet stores your private/public keys, creates and signs transactions, broadcasts the signed transaction to the blockchain and reads back from the blockchain to receiving transactions.
1 Like
- A bitcoin wallet utilizes its private keys to keep track of balances, create transactions, and sign transactions for the Bitcoin network.
1 Like
Wallet stores your keys, checks the sums you own and connect to the blockchain network.
1 Like
- A bitcoin wallet stores your private keys and can create and sign transactions.
1 Like
- A bitcoin wallet is a container where your private key is contained. It is used to sign transactions and transmit them. There are no coins in the Bitcoin wallet.
1 Like
A bitcoin wallet holds your bitcoin and consists of a private key and a public key to send and receive bitcoin.
A bitcoin wallet allows you to transact on the bitcoin blockchain by signing transactions with your private key.
1 Like
-
Describe in short what a bitcoin wallet does.
Bitcoins Wallet stores key and address data and facilitates valid and verifiable transactions
1 Like
It stores your private keys.
It creates and signs your transactions and it reads the blockchain with your sended and received transactions
1 Like
1.It stores private keys, creates and signs transactions, broadcast said transactions to the network and reads the blockchain notifying you if you have funds to spend.
1 Like