The Bitcoin wallet is referred as the digital Wallet. And establishing such wallet is one very important step in process of getting Bitcoins. As Bitcoins are digital equivalent of real cash, bitcoin wallet is quite analogous to the physical wallet. However, instead of storing BTC literally, what’s stored is much relevant information like safe private key that is used to access the Bitcoin addresses or carry out the transactions. There are different kinds of the wallets they are the desktop, web, mobile, as well as hardware.
The desktop wallets are been installed on the desktop computer as well as provide user with the complete control over wallet. The desktop wallets allow user to create the Bitcoin address to send and receive Bitcoins.
Mobile wallets generally overcome handicap of the desktop wallets, as latter will be fixed at one place. It takes a form of the paid apps.
For the web wallets, they will allow you use the Bitcoins from anywhere, and on any browser and mobile. Selection of the web wallet should be done very carefully as this stores the private keys on internet.
After it is sent to blockchain, transaction can be processed and can move through all the Blockchain nodes. Then, it will become highly committed that can finally allow transfer of money to other wallet. The wallet has got to synchronize very well with blockchain that is very important to validate any kind of transactions.
Use Bitcoin Wallet for Sending & Receiving Bitcoin Cash
Receiving Bitcoin is simple as giving sender the public address. Sending your bitcoin needs some more steps & as bitcoin transactions are totally irreversible, it’s very important that you pay attention while sending. Overall, process for sending the bitcoin is very easy:
- Copy receiver’s Bitcoin address
- Open wallet & navigate to “Send” feature and paste receiver’s address in appropriate field