What is a bitcoin wallet?

If you are starting your journey with cryptocurrency, you need to know how to create a bitcoin wallet. So today, let’s talk about what a bitcoin wallet is and how you can create it.
As its name indicates, a Bitcoin wallet serves to store the currency, in this case, bitcoin. Just like regular wallets are used for storing cash, you can use your bitcoin wallet to store your cryptocurrency or, to be precise, your keys. Moreover, it serves not only for storing your bitcoins but also for performing other transactions, making it easy to buy and sell bitcoin.

How to create a bitcoin wallet

In your Bitcoin wallet, you will have public keys that can be passed to others – the key that identifies your wallets and the private key that gives you access to your coins and lets you control them. This is why it is paramount to keep your keys safe and never pass them on to others. You should also remember to make sure that you have your key written and saved because due to the high level of security and privacy, in case you forget them, it will be impossible to get access to your account.
Speaking of types of bitcoin wallets, you may come across the term “cold” and “hot” wallet. The first one stands for wallets, which have a connection to the Internet, whereas cold wallets do not have it.

How to get a bitcoin wallet

Now that you know what a bitcoin wallet is and understand the basis of its work, let’s talk about how to make a bitcoin wallet. So, how to create a bitcoin wallet? There are three ways to get your bitcoin wallet (you can download the app on your device, you can have it online, and you can have a hardware-based wallet).

Three ways hot to create a bitcoin wallet

The first type of bitcoin wallet is software based. You can simply download this wallet and have it on your devices, such as a computer or even your phone. Creating your crypto wallet is easy because such apps are available for everyone, and the mechanism of downloading them is pretty simple. The mobile software wallets are lighter and easier to deal with, and they can be carried with you anywhere you go. The desktop ones are safer but require more space. However, you should remember that for safety reasons, you must not have all your coins in the software wallet only because there is always a risk of cyberattack.
How else to get a bitcoin wallet? Another type of bitcoin wallet is a web wallet. Such wallets store your keys online on the server. They are also very convenient because they allow you to access your coins anywhere you have the Internet. However, you need to be careful because they can also be attractive to hackers.
And last but not least is the hardware wallet. As the name indicates, such wallets allow you to store your coins on the hardware without needing to use the Internet or other electronic devices. This is why they are considered the safest wallets but have their main drawback – the price. While software and web wallets are usually free and available for anyone, you should buy a hardware-based wallet.

How to put money on a Bitcoin wallet

Now that you know how to open a bitcoin wallet, you might have another question: how to put money in? Unfortunately, crypto wallets don’t usually allow you to buy bitcoins, so the best way to put money in your wallet is to buy bitcoin at a special cryptocurrency exchange. There are many exchanges, such as B2Cash, in Prague. The exchange allows users to buy bitcoins and other cryptocurrencies quickly and safely. So if you already have your bitcoin wallet, you will be able to put coins in it within a few moments.

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