What is a Bitcoin Wallet? (in Plain English)

Published on June 16, 2022

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A Bitcoin wallet is a device or program that stores your private keys and allows you to interact with the Bitcoin blockchain (i.e. send and receive Bitcoins).

It’s important to differentiate between wallets where you have complete control over your private keys (non-custodial) and those that don’t give you access to your keys (custodial).

That’s Bitcoin wallets in a nutshell. For the complete explanation keep on watching the video here’s what I’ll cover:

0:55 – Bitcoin wallets in a nutshell
1:22 – What is a private key?
1:55 – What is a Bitcoin address?
2:22 – What are HD wallets?
3:13 – Backing up your private key
3:41 – Different Bitcoin wallet available
7:30 – Cold storage wallets
7:51 – Paper wallets
8:25 – Hardware wallets
9:07 – Brain wallets
10:00 – Multisig explained
11:31 – How to choose a Bitcoin wallet
12:53 – Conclusion

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Bitcoin Wallet

Bitcoin Wallet, What is a Bitcoin Wallet? (in Plain English).

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It is often called the poor male’s gold, and aren’t all of us a little poor today? This wallet serves as your individual wallet and likewise as a support for that system. The only things I require are batteries and memory space.

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