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What is a bitcoin wallet?

Basically, a bitcoin wallet is a software program that is used to store Bitcoins. This wallet allows the user to send, receive and save Bitcoins safely. Once you have some balance in your Bitcoin wallet you will receive a private key a for every Bitcoin address that is saved in your Bitcoin wallet.

It is important to note that there is no Bitcoin transaction that can be performed without a private key. The Bitcoin wallet software can be run easily on a computer device or smart phone. If you are looking for a way to store Bitcoins safely you can find more here. You should note that there are various kinds of bitcoin wallet and each one has some specific requirements of usage.

Mobile

This is a great option for people that use Bitcoins on a daily basis for different reasons such as regular trading. It is an application which operates in a smart phone. You should note that this applications stores your private keys and allows you to pay for products or services from your phone using Bitcoins. Web

This form allows you to use Bitcoins from a web browser. It is advisable that you choose a web bitcoin wallet carefully because it stores the private keys online. This will help you minimize the risk of online fraud.

Desktop

It is possible to download a desktop bitcoin wallet and install it in your computer. This option will offer you a complete control over your wallet. You can create a crypto-coin account address that you will use to send and receive the bitcoins.

Hardware

This form is quite unique from the rest. It is an offline device that has proven to be the most secure form of bitcoin wallet. This is because they store your private keys offline and therefore cannot be hacked. You can access the wallet in your computer at any time you want.

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