Ucy (OP)
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Bisq is a Bitcoin Fiat Dex. Use responsibly
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August 19, 2017, 11:50:44 AM |
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One of the most confusing things for me about Bitcoin is the use of the name Wallet. I never knew Bitcoin Private keys can be used on different wallets. Bitcoin users are usually advised to backup their private keys & store in safe places so it can be use on any other wallet if their normal wallet providers go out of biz. I usually wonder why private keys work on any wallet because I assumed that Bitcoin wallets work like our usual physical wallets used for storing paper currencies. Though I later knew my keys can be used on any Wallet but never understood it fully until today. I know many newbies will find things confusing like me hence the need to make it understandable for them...
I was going through a website when I found a Metaphor that changed my understanding of Bitcoin Wallet.. the site compared Wallets to physical Keychains ( "Bitcoin Wallets are like Keychains", according to the site ) used for holding keys to your home.. . Thank to this website, am now seriously considering backing up all my Cryptocurrency private keys because I understand the idea fully now.
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