Bitcoin Basics #003 – Bitcoin Wallets

By Albert Szmigielski Today we will explain Bitcoin Wallets A Bitcoin Wallet is a piece of software that allows you to do the following: Keep track of the bitcoins you own Send and receive bitcoins Connect to and query the Bitcoin network for a variety of information Technically the term wallet is a little bit misleading, the Bitcoin wallet does not hold your bitcoins. All the bitcoins ever created are stored on the blockchain. The wallet stores your private keys, which in turn allow you access to the bitcoins you own on the blockchain. There are a few types of wallets: Full wallet Light wallet (sometimes called a light  or thin client) Mobile wallets Web wallets Paper wallets Hardware wallets

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