Reasons to Move Money Between Cryptocurrencies
How To Store Your Bitcoins - Bitcoin Wallets - Coindesk
Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device.
You can even use paper storage to avoid having them on a computer at all. Of course, it is very important to secure and back up your bitcoin wallet.
Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment. We know how they are generated and how a bitcoin transaction works , but how are they stored?
We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it's normally digital. Well, to be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions.
This information is stored in a bitcoin wallet. Bitcoin wallets come in a variety of forms.
There are five main types of wallet: desktop, mobile, web, paper and hardware. Here’s how they work. If you have already installed the original bitcoin client ( Bitcoin Core ), then you are running a wallet, but may not even know it.
In addition to relaying transactions on the network, this software also enables you to create a bitcoin address for sending and receiving the virtual currency, and to store the private key for it. There are other desktop wallets too, all with different features.
How To Transfer Bitcoin From Coinbase To Your Own Wallet
MultiBit runs on Windows, Mac OSX, and Linux. Hive is an OS X-based wallet with some unique features, including an app store that connects directly to bitcoin services.
Some desktop wallets are tailored for enhanced security: Armory falls into this category. Others focus on anonymity: DarkWallet – uses a lightweight browser plug-in to provide services including coin ‘mixing� Continue reading >>