Skip to content

All You Need To know About Bitcoin wallets

In order to use Bitcoin, you need a wallet, a unique piece of software in which you store, send and receive bitcoins. There are three types of wallets: software wallets, mobile wallets and web wallets.

Software wallets are installed on your computer and they provide you complete control over your wallet. Mobile wallets are established on your smartphone or tablet and provide you to use Bitcoin for regular transactions in shops and supermarkets by scanning a quick response code. Web wallets are placed on the World Wide Web, ie they are a form of cloud storage. To get more information about Bitcoin wallet, you can also read ledger wallet reviews.

Payments using bitcoins are very easy. They can be made from wallets on your computer or smartphone simply by entering the receiver's address, the amount and then pressing send. Smartphones can also get a receiver's address by scanning a QR code or by bringing two phones that include near-field-communication technology, a form of radio communication, close to each other.

A bitcoin wallet is similar to a wallet full of cash. To overcome the risk of loss, you should hold only small amounts of bitcoins in your computer or smartphone and keep the most of your bitcoins in a safer environment, such as an offline wallet.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *