A wallet signs transactions, query a node(s), broadcast to blockchain, read blockchain. No actual coins exist.
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- Describe in short what a bitcoin wallet does.
A bitcoin wallet stores your private key, and creates a digital signature when you make a transaction. It tells the blockchain that a transaction has occurred. If the blockchain agrees that the transaction is a valid transaction, it records it.
When one wallet sends funds, it provides a digital signature created with the private key. If the blockchain agrees, the transaction is recorded. The wallet âreceiving the fundsâ is informed of the blockchainâs approval of the transaction by the fact that it now has access to those funds. âThe Wallet does not store any coins,â it just stores the private key and requests transactions from the blockchain. The blockchain itself keeps a record of every wallet, and how many coins each wallet has access to, or is entitled to direct.
The function of the wallet is to keep your private key private, so nobody but you has access to your funds.
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- Describe in short what a bitcoin wallet does.
Wallet
Stores your private keys for bitcoin
used to sign, approve and confirm transactions you have initiated.
reads blockchain and confirms amount of bitcoin unspent,
broadcasts your transactions to nodes for addition to the blockchain
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And to send transactions you need the private key to sign it, one important feature of a wallet.
the bitcoin wallet store private keys, create and sign transactions.
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A wallet stores the private key. As this is the most sensitive data no one elso should get access to, essential to keep it offline all the times. Can be in form of a hardware-wallet, USB-device, or even on written paper. With an App installed on the Mobile/ Laptop the USB-connection to the wallet i generates the public key to sign, sent or receive transactions. âHosted Walletsâ on Crypto-Exchanges are actually not your private wallet, but get accessed with your log-in passwords - the exchange keeps the wallet, together with lots of other customers holding their funds.
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Homework on Role of Wallets - Questions
- Describe in short what a bitcoin wallet does.
Thereâs many different types of bitcoin wallets that have different properties and abilities. Paper wallets, that are completely offline and not connected to the internet or a computer, are only able to receive bitcoin. It cannot âdoâ anything by itself.
A fully functional bitcoin wallet application, that can be used to receive AND send bitcoin, needs to also be able to:
- create and store key-pairs (private/public keys)
- create and sign transactions
- broadcast transactions to the network
- read the blockchain (for updating balances of spendable funds)
A hardware wallet is an example of an offline key storage application thatâs also able to do all the tasks above. Keys are completely offline, in the same way as a paper wallet, but one can also sign transactions (spend) without exposing the private key.
A bitcoin wallet has to be integrated with a full node or an SPV to be able to read from the blockchain.
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Great answer and great examples. 
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What a great and detailed answer. I really like how you compared the hardware wallet with the paper wallet. You are on ! Keep up the great work. 
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a bitcoin wallet stores a private key creates public key it creates and signs (signature) and broadcast to the network and receives information from nodes ie ledger copy
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A bitcoin wallet create ans signs transactions, broadcasts that transaction and read the blockchain.
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1 A bitcoin wallet stores a private key and enables sending and receiving bitcoins by creating, signing, and broadcasting transactions.
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- Describe in short what a bitcoin wallet does.
Stores a userâs private keys and signs transaction so the blockchain can be updated to reflect the transaction.
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You probably meant that, but just to be sure. How does that happen? 
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- Describe in short what a bitcoin wallet does.
Usually a wallet is a user application that stores private and public keys. It has either local or through the internet accsess to the blockchain information. It can create and sign transactions and also broadcast those transactions to the bitcoin network.
A hardware wallet is a more secure version of a wallet, where the wallet application is run on a special hardware with little to no connection to the internet in order to minimize the exposure of the private keys to the public. A paper wallet is âcreatedâ by writing down the private keys on a paper. This makes it 100% offline and increases the security of the private keys. A hosted Wallet is stored on a host somewhere remote from the user. The user has some kind of an interface on his computer but does not have direct control over his private keys.
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A bitcoin wallet generates and holds your private key. It generates public keys which can be used to sign transactions and send or receive bitcoin. The wallet controls the unspent funds.
Simply put your Wallet stores your authorization or access to your crypto data, ledger or crypto assets, Your wallet signs transactions that informs that rest of the block-chain that you are adding to the existing ledgerâŚ
???
While you are mostly right, transactions are signed with a private key since you share your address (in the past this also was the public key) this would mean everyone would be able to sign your transactions and steal your funds
Unspent funds are not stored on your wallet, all the âcoinsâ are stored on the blockchain. Your private keys are the way how you unlock those funds
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Basically yes your wallet doesnât have any funds stored in it, just the keys
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Describe in short what a bitcoin wallet does.
A bitcoin wallet sends all transaction information to the block chain that you execute from the wallet. The wallet contains your private and public keys and signs transactions with your private key to validate your transactions.
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