True if its a paper wallet 
some do a bit more stuff as well, like sign transactions
1 Like
- Describe in short what a bitcoin wallet does.
- A wallet stores your private key. It reads unspent transactions from blockchain. It can create and sign transactions.
1 Like
1- stores private key, creates and signs transactions
1 Like
[quote=“ivan, post:1, topic:8437, full:true”]
Homework on Role of Wallets - Questions
- Describe in short what a bitcoin wallet does.
A bitcoin wallet is used to do a transaction,a transfer of value between bitcoin wallets. It holds your private key which is used to digitally sign transactions,providing mathematical proof that it comes from the owners wallet.Every transaction is broadcast to the network to be verified
1 Like
A bitcoin wallet is a place where to store your private key
The wallet can generate and sign a transaction for available founds
1 Like
Just like cash wallet a BTC wallet also holds currency, it dose so by signing transactions.
1 Like
A bitcoin wallet stores your private key, creates your public key, signs transactions, queries the blockchain for information.
1 Like
A bitcoin wallets stores your private keys, creates and signs transactions. It also broadcast the transaction to the network and shows when you have funds.
1 Like
A bitcoin wallet stores private keys. It does not hold coins. A bitcoin wallet creates, signs, and broadcasts or sends the transactions to the network. It also reads the block chain and notifies the network that you have funds to spend. Depending on the type of wallet it may or may not store the entire block chain
1 Like
A bitcoin wallet stores a users randomly generated private keys, it signs transactions with these private keys,and broadcasts the transaction to the network.
1 Like
1- A bitcoin wallet is used to store your private and public keys
2- Create and sign transactions
2 Likes
- Bitcoin wallets store private keys to create and sign transactions.
1 Like
Describe in short what a bitcoin wallet does
A Bitcoin wallet is a program that stores your private keys. Your private keys are used to sign off on your fund transactions.
1 Like
Wallets have no coins, they just store private key, create transactions and give them signature, broadcast them or read them.
1 Like
Homework on Role of Wallets - Questions
Describe in short what a bitcoin wallet does.
Answer: Stores Private keys, Signs transactions, Sends and receives transactions (constructs, signs and Broadcast)
1 Like
Stores your private keys on phone, computer hard drive, external hardware wallet or shared wallet.
1 Like
- it keeps a private key and when it received a request for funds transfer it can make a digital sign by using a private key to approve that transaction
1 Like
1.Describe in short what a bitcoin wallet does.
It woks in two ways, sending funds and receiving funds.
For sending funds, my wallet has my private keys, so when I want to send funds (crypto) the I use my wallet to achieve this process, so when my wallet signs the transaction and send it to nodes, nodes will verify this process and continue the process through miners.
Also, wallet receives funds, so when I receive a fund, my wallet will read the transaction at the blockchain and note that I received funds (crypto).
So: My wallet is storing my private key, create transactions, broadcast these transactions and read them.
2 Likes
A Bitcoin wallet is a private/public key pair that signs transactions in a decentralized ledger
1 Like
It holds your private keys, sign transactions, generates public addresses and broadcasts your transactions to the rest of the network and calculates the amount of crypto and thus currency balance
1 Like