What Is A Bitcoin Wallet? – The Best Explanation EVER
A Bitcoin wallet is a piece of software that you use to communicate with the Bitcoin network and then you can tell the Bitcoin network when you want to send and receive transactions. Now the best way to understand a Bitcoin wallet is by comparing it to email once you’ve set up an email address you need some kind of software to allow you to send a receive emails to that new address,this software may be an app on your phone, it may be an app on your laptop or it could even be an app online that you log into.
With email you enter the username and the password for your email address and you enter that into the app and that’s how the internet knows that it is really you that wants to send and receive emails to that address now, of course, you tell everybody the email address and you have to do that in order for anyone to be able to send you a message, but just because someone knows your email address that doesn’t allow them to send email from that address.
Does it if they could that would be bad because then they could send emails pretending to be you and cause all kinds of problems in order to be allowed to send email from a particular…