What is a bitcoin wallet?

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What is a bitcoin wallet? Let's talk about it in 60 seconds. You can read a detailed description under the video.

A bitcoin wallet is an electronic image of a specific device that serves as a storage of a special cryptographic key from a site with a balance on which virtual money is located.

In fact, a bitcoin wallet is a special encrypted file with a list of keys that are linked to addresses that contain finances in the form of cryptocurrencies.

There are two types of keys to bitcoin wallets:
1. Public key — used to identify the bitcoin wallet, in fact, this is its address.
2. Private key — allows you to manage finances that are stored in the wallet. Private keys are either issued on the exchange, whose servers are provided for their storage, or are generated on specialized services, without additional storage services.

To create a bitcoin wallet, you must first select an exchange or service that will provide such an opportunity. After that, you need to register there, enter your email address, confirm your phone number and come up with a unique pin code. After that, you can open a bitcoin wallet.

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Crypto Wallets
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