Understanding Bitcoin Wallets: A Beginner’s Guide

Sourced from https://www.business-opportunities.biz/2020/09/10/bitcoin-wallets-beginners-guide/

Featured image by Gerd Altmann from Pixabay 

Bitcoin, along with other forms of cryptocurrency, is an encrypted, decentralized digital currency. Part of the allure of this type of currency is that you don’t need a bank or a bank account or even a bitcoin wallet to hold your currency.

This is because bitcoin only exists on a decentralized network of computers. This begs the question then, how do you hold onto and store your bitcoin after you acquire it?

That is where bitcoin wallets come in. Here we will go through everything beginners need to know about bitcoin wallets. We will go through what bitcoin wallets are, the main types of bitcoin wallets, and the advantages and disadvantages you will find. This is a beginner’s guide to understanding bitcoin wallets.

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