Join over 94,000 students, learn all you need to know about Bitcoin. One Email a Day, 7 Bitcoin wallet info in a Row. To make it simple we’ll compare it to email. If you want to receive Bitcoins you’ll need a unique personal address, just like an email.
Let’s call this address your Bitcoin address, and just like your email address anyone can see it and anyone can send Bitcoins to it. Now you decide that you want to access your Bitcoin address to see how many Bitcoins you own. So you’ve opened up your Bitcoin Client, and now you need to log in. For email you’d enter your email address and password. It’s important to know that every Bitcoin address has only 1 matching private key. But each private key can be used for multiple addresses.
Just think about it this way, each email address has only 1 password that opens it. But you can use the same password for multiple email addresses. It’s crucial that you keep the combination of your Bitcoin address and private key safe. Exactly like you’d guard your combination of email address and password. Some people write it down on a piece of paper and hide it away, others store it in an encrypted file on their computer, there are also dedicated websites that hold your private and public keys for you. Any place that these 2 pieces of information are stored at is called a Bitcoin Wallet.
Today most programs act as a Bitcoin client and a Bitcoin wallet together. You now know what a Bitcoin wallet is. Bitcoin Video Crash Course Join over 94,000 students and know all you need to know about Bitcoin. One email a day for 7 days, short and educational, guaranteed. We hate spam as much as you do. You can unsubscribe with one click. Hi I’m very interested in buying bitcoins.
How do I get started, I’m doing your 7 day course. Thanks Ofir, this was helpful, the email paradigm was on point. Looking forward to the next video. I believe this course was designed to demystify the whole crypto-currency concept.
This particular video did just that for bitcoin wallet and client, and i appreciate it. Is the wallets address similar to a bank account number? Is the wallet address one use for any bitcoins transaction? A section and I’ll do my best to respond within 24 hours. Enter the terms you wish to search for.