- Describe in short what a bitcoin wallet does.
A. A bitcoin wallet can send and receive bitcoin transactions. The wallet stores your private and public key, and uses the private key to sign a transaction when sending or receiving.
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A bitcoin wallet does not store bitcoins. Poor terminology, it would be better described as a keychain. The wallet stores the users private key. The wallet can create and sign transactions and send them to the network.There are several types of wallets. You can have a paper wallet, a hardware wallet, hot wallet and a hosted wallet. Each with varying security and ease of use trade offs.
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Hi wafflemakr,
Thanks your answers. So one wallet can have multiple private keys. For example two private keys of BTC?
Hi Gemstar,
Does wallet generates Public key every time different? If the public key (address) is generated only from private key (address ) is should be always same.
1- In short a bitcoin wallet holds your private keys, broadcast, and signs your transactions to the blockchain.
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In short, a bitcoin wallet stores a private key and is used to sign transactions digitally. It creates and signs the transaction and then broadcasts it. When funds are received into the wallet and have been confirmed through consensus of the nodes, the wallet then informs the owner of the transaction.
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Hi D3N1X,
I don’t understand the question (“public key… generated from private key… should be always same”). Can you clarify?
However, I can confirm that Public Keys are generated or derived from Private Keys.
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- Stores your private key, creates public key, signs, broadcasts, and reads transactions.
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Hi Gemstar,
I wrote it bad, sorry for that. I meant that if public key is generated from and only private key. Public key should by always same.
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A bitcoin public key is tied to only one private key, which is needed to verify the signature by the receiver. This means that the private key owner is the only one who can perform the encryption of it. Since it is impossible to regenerate the private key from a public key or address, if an owner loses their private key, any bitcoin or altcoins located at this public address will be inaccessible. However, if the owner loses the public key, it is possible to recreate it with the private key.
source:spectrocoin
Btw: This is not spamming or presenting this page that is why did not link url.
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I think that you’ve just answered your question. 
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Hi Gemstar,
Yes, indeed. 
Have a good one!
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A Bitcoin wallet stores your private keys, it also signs tranactions , broadcasts transactions to the Bitcoin blockchain and generates your public keys. In short, it is trustless record management.
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1.Wallets will ask the blockchain which UTXOs can its private key can spend and give a balance. UTXOs are basically transactions. A transaction can have any number of inputs and outputs, must have at least one input and one output. inputs are where the money comes from outputs are where the money’s going
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A bitcoin wallet stores your private key, which creates, signs tx and broadcasts. It also reads the blockchain to receive tx
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Describe in short what a bitcoin wallet does.
slightly changed answer
A bitcoin wallet stores your private key, which creates, signs tx and broadcasts to the network. It also reads the network to receive tx
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- A Bitcoin wallet enables the sending and the receiving of bitcoins. A wallet creates transactions with a private key. A wallet holds both a private and a public key. A wallet stores your private key. It creates signs and broadcast the transactions.
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Hi there!! The public key is indeed used to receive transactions, but signature is related to the use of your private key to sign a transaction, so that nodes can check that you authorized this.
Hope that helps!
Felipe.
Maybe you are referring to a hardware wallet here? Like Ledger nano or Trezor? In this case, yes, it looks like a usb device!