The Bitcoin wallet is the first thing you’ll need to set up if you want to purchase and trade with Bitcoin. Although terms like 'coin' and 'wallet' are connected to cash and traditional banking, these terms have quite different meanings. Your wallet is the place where your unique ID is stored in the form of a secure Blockchain sequence. This is used to identify yourself to a cryptocurrency exchange or peer-to-peer system, and prove you are who you say you are. In the way your passport lets you enter other countries, your Bitcoin wallet lets you spend your Bitcoin.
What is Bitcoin Wallet?
Was this article helpful?
Please sign in to leave a comment.