![]() Each has their advantages and disadvantages, from cost to security. There are several different types of Bitcoin wallet, ranging from simple printed paper ones, to more advanced hardware wallets. Your public key, on the other hand, is what you share with senders or recipients, and allows people to send Bitcoin to your wallet address (a hashed version of your public key). Not your keys, not your wallet, as the saying goes. If you lose or forget it, you’ll be locked out of your wallet with no way to access your funds, which is about as painful and as gut-wrenching an experience as you can imagine. ![]() Your private key is incredibly important, and should never be shared or haphazardly stored. It works by storing your private and public keys-which in most cases, including Bitcoin, are 256-bit numbers, viewed to us as 64 hexadecimal characters in the ranges 0-9 or A-F. In essence, it’s your private crypto bank account-but it’s completely under your control. A Bitcoin wallet, like other cryptocurrency wallets, is a piece of software that allows you to store digital currencies (in this case, Bitcoin), as well as giving you the ability to view your balance, send, and receive more.
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