Bitcoin Forum>Other>Beginners & Help
Author

Topic: Can not see what is a Bitcoin Wallet (Read 889 times)

SteinsMadScientist
newbie
Activity: 38
Merit: 0
Can not see what is a Bitcoin Wallet
August 15, 2016, 11:17:52 PM
#20
It's where you store all of your btc.  I would suggest getting one that isn't web based if you want better security.
krishna1
sr. member
Activity: 322
Merit: 250
Re: Can not see what is a Bitcoin Wallet
August 13, 2016, 09:56:12 PM
#19
A Bitcoin Wallet is A place Where you Store Your all Bitcoins and You are Using This For Sending and Receiving Bitcoin Payments...
And Also It is a Collection of Many Addressees and You can Use Different Addresses To Receive Payments from Different Clients Or Websites......
Cresciuanto
sr. member
Activity: 252
Merit: 250
Re: Can not see what is a Bitcoin Wallet
July 20, 2016, 12:34:41 PM
#18
a place where you can put your bitcoin safely is called bitocin wallet. different forums have different wallet where people are invited to put their bitcoin safely.
Digitalbitcoin
hero member
Activity: 1568
Merit: 502
Re: Can not see what is a Bitcoin Wallet
July 20, 2016, 05:48:26 AM
#17
Well in short. Bitcoin wallet is open source and can be held on any device. A single wallet can hold multiple bitcoin addresses which can independently hold bitcoins. With private keys and secret keys individually.
Digitalbitcoin
hero member
Activity: 1568
Merit: 502
Re: Can not see what is a Bitcoin Wallet
July 20, 2016, 05:35:48 AM
#16
Quote from: achow101 on July 19, 2016, 12:16:34 PM
A Bitcoin wallet is a collection of Bitcoin addresses and their corresponding keys. There are several wallet clients which generate the addresses and allow you to easily send and receive Bitcoin and view your transaction history.

A paper wallet is a piece of paper which contains addresses (usually only 1 though) and their corresponding keys. This is usually printed out and kept in a safe place for long term storage of Bitcoin.


Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.
This is a common misconception. That is an ADDRESS not a WALLET. An address is different from a wallet. A wallet contains multiple addresses and the corresponding public and private keys.

Right but how to identify wallet. For identification of wallet it needs Address and this address is associated with few other keys. These keys are important to get your wallet to any platform or any device.
outatime1
sr. member
Activity: 364
Merit: 254
CryptoTalk.Org - Get Paid for every Post!
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 06:16:34 PM
#15
It's like an account number with a password to access it. The account number (bitcoin address) is public, the password (private key) is private. The wallet is not held by any third party unless you want it to be so.
Conus
full member
Activity: 236
Merit: 250
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 04:59:01 PM
#14
There are a lot of examples of what a bitcoin wallet is, but think of it like this.  You carry your money and credit cards in your wallet or purse right now.  Those credit cards are items that represent the money that you have on you right now.  A bitcoin wallet is the same thing, just virtual.
crairezx20
legendary
Activity: 1638
Merit: 1046
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 01:26:23 PM
#13
Quote from: Tyrantt on July 19, 2016, 01:05:44 PM
Quote
I highly advise that you NOT use blockchain.info. For starters, they are a web wallet, which is less secure than a desktop wallet. Secondly blockchain.info has a long history of bad security practices, service problems, and customer support issues. I advise you to not use blockchain.info nor any other web wallet. Rather you should use a desktop client such as Bitcoin Core, Armory, or Electrum.

I've been using blockchain.info wallet for a couple of years now and ever had any problem at all.
But for me i experience of issue before using block chain thats why i convert into electrum which is better than web wallets..
Igorzovisk
newbie
Activity: 6
Merit: 0
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 01:10:56 PM
#12
Quote from: Wusolini on July 19, 2016, 12:50:44 PM
When writing down wallet you would probably write the individual private keys or the mnemonic ( from which all the private keys can be generated ).

Now that helped me a lot too. Thanks.
Tyrantt
hero member
Activity: 1022
Merit: 564
Need some spare btc for a new PC
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 01:05:44 PM
#11
Quote
I highly advise that you NOT use blockchain.info. For starters, they are a web wallet, which is less secure than a desktop wallet. Secondly blockchain.info has a long history of bad security practices, service problems, and customer support issues. I advise you to not use blockchain.info nor any other web wallet. Rather you should use a desktop client such as Bitcoin Core, Armory, or Electrum.

I've been using blockchain.info wallet for a couple of years now and ever had any problem at all.
Wusolini
legendary
Activity: 1190
Merit: 1000
no need to carry heavy money bags anymore
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:50:44 PM
#10
Quote from: Igorzovisk on July 19, 2016, 12:05:40 PM
I can not understando what is a Bicoin Wallet.
If I want to write my wallet in a paper, what would I be writing? I guess if somebody answers me that, I can understand.

You first need to understand what is Address and Private key.
Because it is recommended to use new address for each transaction you will have bunch of addresses quite soon and wallet is just tool to manage them in one place ( all addresses in single file, access via single pass etc.)    

When writing down wallet you would probably write the individual private keys or the mnemonic ( from which all the private keys can be generated ).
achow101
staff
Activity: 3458
Merit: 6793
Just writing some code
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:50:44 PM
#9
Quote from: Igorzovisk on July 19, 2016, 12:43:09 PM
I see it now.
A wallet, then, is a software that handle one or more keys,
Yes

Quote from: Igorzovisk on July 19, 2016, 12:43:09 PM
splitting your money between them?
No. The Bitcoin you receive at one address is not split nor sent to another address in your wallet. When you want to spend Bitcoin from your wallet, it will choose which addresses to spend from.

Quote from: Igorzovisk on July 19, 2016, 12:43:09 PM
If I have a key in a paper and want to transfer to someone, how would I do that?
You could import that key into a wallet client and send the Bitcoin to the other person's address. Or you could give the other person that piece of paper with the key and have them import the address and send the funds to themselves.

Quote from: BestWebCreator on July 19, 2016, 12:46:34 PM
I would advise to use blockchain.info.
I highly advise that you NOT use blockchain.info. For starters, they are a web wallet, which is less secure than a desktop wallet. Secondly blockchain.info has a long history of bad security practices, service problems, and customer support issues. I advise you to not use blockchain.info nor any other web wallet. Rather you should use a desktop client such as Bitcoin Core, Armory, or Electrum.
Igorzovisk
newbie
Activity: 6
Merit: 0
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:50:16 PM
#8
Quote from: BestWebCreator on July 19, 2016, 12:46:34 PM
Quote from: Igorzovisk on July 19, 2016, 12:43:09 PM
Quote from: BestWebCreator on July 19, 2016, 12:37:39 PM
Quote from: Igorzovisk on July 19, 2016, 12:34:49 PM
Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.

I did not understand.

What I did:
Downloaded Electrum via apt (Linux). Opened it and created a wallet. Then I went Wallet → Private Keys → Export and exported a .csv document with:
Code:
address,private_key
13xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

What these keys means?
The address is the address where people send btc to, or just a location where u store your bitcoin. It is basically your address, just like u own a house, with a few interesting features. The private key is the key to the address and therefor backup it up and let no one else have it, otherwise they can steal your bitcoin.

I see it now.
A wallet, then, is a software that handle one or more keys, splitting your money between them?
If I have a key in a paper and want to transfer to someone, how would I do that?
If you create an address from your private key, then will that private key be all that you need to access your money. For example u have an address and have a private key that belongs to it, then print out your private key on a paper and make multiple back ups and store them safely. When u want to access your money, then just import your private key into a wallet and then u have access to your funds. Only do this if u plan on holding bitcoin. If u want to trade daily and make transactions, I would advise to use blockchain.info.

Now I understand. Thank you.
BestWebCreator
hero member
Activity: 675
Merit: 513
:)
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:46:34 PM
#7
Quote from: Igorzovisk on July 19, 2016, 12:43:09 PM
Quote from: BestWebCreator on July 19, 2016, 12:37:39 PM
Quote from: Igorzovisk on July 19, 2016, 12:34:49 PM
Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.

I did not understand.

What I did:
Downloaded Electrum via apt (Linux). Opened it and created a wallet. Then I went Wallet → Private Keys → Export and exported a .csv document with:
Code:
address,private_key
13xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

What these keys means?
The address is the address where people send btc to, or just a location where u store your bitcoin. It is basically your address, just like u own a house, with a few interesting features. The private key is the key to the address and therefor backup it up and let no one else have it, otherwise they can steal your bitcoin.

I see it now.
A wallet, then, is a software that handle one or more keys, splitting your money between them?
If I have a key in a paper and want to transfer to someone, how would I do that?
If you create an address from your private key, then will that private key be all that you need to access your money. For example u have an address and have a private key that belongs to it, then print out your private key on a paper and make multiple back ups and store them safely. When u want to access your money, then just import your private key into a wallet and then u have access to your funds. Only do this if u plan on holding bitcoin. If u want to trade daily and make transactions, I would advise to use blockchain.info.
Igorzovisk
newbie
Activity: 6
Merit: 0
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:43:09 PM
#6
Quote from: BestWebCreator on July 19, 2016, 12:37:39 PM
Quote from: Igorzovisk on July 19, 2016, 12:34:49 PM
Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.

I did not understand.

What I did:
Downloaded Electrum via apt (Linux). Opened it and created a wallet. Then I went Wallet → Private Keys → Export and exported a .csv document with:
Code:
address,private_key
13xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

What these keys means?
The address is the address where people send btc to, or just a location where u store your bitcoin. It is basically your address, just like u own a house, with a few interesting features. The private key is the key to the address and therefor backup it up and let no one else have it, otherwise they can steal your bitcoin.

I see it now.
A wallet, then, is a software that handle one or more keys, splitting your money between them?
If I have a key in a paper and want to transfer to someone, how would I do that?
BestWebCreator
hero member
Activity: 675
Merit: 513
:)
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:37:39 PM
#5
Quote from: Igorzovisk on July 19, 2016, 12:34:49 PM
Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.

I did not understand.

What I did:
Downloaded Electrum via apt (Linux). Opened it and created a wallet. Then I went Wallet → Private Keys → Export and exported a .csv document with:
Code:
address,private_key
13xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

What these keys means?
The address is the address where people send btc to, or just a location where u store your bitcoin. It is basically your address, just like u own a house, with a few interesting features. The private key is the key to the address and therefor backup it up and let no one else have it, otherwise they can steal your bitcoin.
Igorzovisk
newbie
Activity: 6
Merit: 0
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:34:49 PM
#4
Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.

I did not understand.

What I did:
Downloaded Electrum via apt (Linux). Opened it and created a wallet. Then I went Wallet → Private Keys → Export and exported a .csv document with:
Code:
address,private_key
13xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, 5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

What these keys means?
achow101
staff
Activity: 3458
Merit: 6793
Just writing some code
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:16:34 PM
#3
A Bitcoin wallet is a collection of Bitcoin addresses and their corresponding keys. There are several wallet clients which generate the addresses and allow you to easily send and receive Bitcoin and view your transaction history.

A paper wallet is a piece of paper which contains addresses (usually only 1 though) and their corresponding keys. This is usually printed out and kept in a safe place for long term storage of Bitcoin.


Quote from: Digitalbitcoin on July 19, 2016, 12:12:56 PM
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.
This is a common misconception. That is an ADDRESS not a WALLET. An address is different from a wallet. A wallet contains multiple addresses and the corresponding public and private keys.
Digitalbitcoin
hero member
Activity: 1568
Merit: 502
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:12:56 PM
#2
Well Bitcoin Wallet is a 34 digit alphanumeric characters starts with number 1 and 3.

Whenever any new address generated. Along with that address there are 2 other keys as Public key means your address. 2nd Private key which used to recover your wallet on any device.
Igorzovisk
newbie
Activity: 6
Merit: 0
Re: Can not see what is a Bitcoin Wallet
July 19, 2016, 12:05:40 PM
#1
I can not understando what is a Bicoin Wallet.
If I want to write my wallet in a paper, what would I be writing? I guess if somebody answers me that, I can understand.
Bitcoin Forum>Other>Beginners & Help
Jump to: