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April 27, 2018, 08:20:27 AM |
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A bitcoin wallet is a software program that stores the record (aka private key) of every bitcoin you own. Bitcoin wallets come in many different forms, and it's important to understand them -- and how to keep them safe -- before you even start buying bitcoins. To understand bitcoin wallets, it is helpful to review some basic foundational information. Bitcoin addresses, which are strings of letters and numbers, contain both a private and public key. A private key gives a user the means to spend bitcoin. A public key is more like a destination that lets a user to receive bitcoin. Because a private key holds all information needed to access a bitcoin address, one can use it to derive the public key.
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