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What Is A Bitcoin Wallet?

Similar to a traditional wallet you may carry in your pocket, a bitcoin wallet is used to store and manage money. The difference is that instead of storing a collection of bills and cards, a Bitcoin wallet stores a collection of Bitcoin private keys. A private key is used to “unlock” bitcoin at a particular address and authorize its transfer to a new address.

A Bitcoin or crypto wallet is a free, digital app you install on your smartphone / PC or a hardware device built for this purpose. While the Bitcoin network is distributed and verified by computers around the world, a Bitcoin wallet is controlled only by its owner. It’s important to keep your Bitcoin private keys safe by using a recommended wallet app and setting a strong, unique password or PIN. 

Always make a backup of your username/password OR your recovery phrase in case you lose or damage your wallet!

What’s a Wallet and which one should I use?

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