A lot of people use to ask me what is bitcion wallet address? how it works? and where to get it?. So today i decide to make this post so that people that don't know bitcoin wallet and address will understand it in a simple way.
First of all
What is Bitcoin wallet?
A “Bitcoin wallet” is just like having a bank account in your local bank where you deposit, send and received money. Basically theBitcoin wallet is equivalent to bank account. It allows you to receive bitcoins, store them, and then send them to others.
There are two main types of wallets.
- Software wallet
- Web wallet
A software wallet is one that you install on your own computer or mobile device and you are in complete control over the security of your coins. Example of software wallets are:
Electrum Bitcoin Wallet
Multibit wallet
Bitcoin Wallet (For Mobiles)
Now you can download and install any of the software in the list above and start storing, sending and receiving bitcoins.
Web wallet is an online bitcoin wallet that allows anyone to make worldwide payments for free. And is hosted by a third party. They are often much easier to use, but you have to trust the provider to maintain high levels of security to protect your coins. Example of web wallets are:
Blockchain
Localbitcoins (Currently accept minimum deposit amount of 0.0002 BTC)
Coinbase
What is bitcoin wallet address?
Since you have bitcoin wallet now as your bitcoin bank account the you need an account number which is called ''bitcoin wallet address''
Every bitcoin wallet has wallet address and you can view it when you log into your wallet and click on received and you can copy your wallet address.
A bitcoin wallet address is just a set of letters and numbers that allows the blockchain to recognize when funds are sent to or from your Circle account. You'll need to give this address to anyone without a Circle account that wants to send you funds.
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