The wallets are smart enough to scan the blockchain and keep track of the balance of Bitcoin associated with the keys. Instead, a Bitcoin wallet merely stores the keys that are used to access Bitcoin. It is worth mentioning how a wallet actually works so you know how to securely store Bitcoin – Bitcoin wallets do not actually store Bitcoin inside the wallet. What is a Bitcoin wallet?īitcoin wallets are hardware devices, or software installed on a computer or phone, and are used to manage a balance of Bitcoin. There is no shortage of wallets that support Bitcoin, so the challenge is in sifting through them all to find a wallet that's right for your needs. So if you're planning on acquiring ( buying, earning, mining), one of the key steps you'll need to consider is finding a wallet where you can safely store your BTC.
Learning how Bitcoin works provides foundational knowledge for learning how the rest of the cryptocurrencies work. It is also the go-to cryptocurrency for learning how both wallets and transactions work in general. Finder or the author may own cryptocurrency discussed on this page.Ĭreated in 2009, Bitcoin (BTC) has maintained its position as the dominant cryptocurrency. Make sure the one you're interested in is available and talk with a financial professional before making a decision. Digital assets, platforms and providers are novel and uncertain, and potential new regulations or policies can affect their availability and services provided. Digital assets are highly volatile, and high risk and past performance is no guarantee of future results. Disclaimer: Information on this page is not financial advice or an endorsement of cryptocurrency or other digital assets, or any specific provider, service or offering.
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