Join bitcoin paper wallet tutorial 94,000 students, learn all you need to know about Bitcoin. One Email a Day, 7 Days in a Row. Hello guys and gals, my name is Nate, and welcome to Bitcoin Whiteboard Tuesday! Every few weeks we’re going to send you a cool new video, just like this one, explaining some basic concepts around Bitcoin.
This way you can learn about Bitcoin yourself or forward these videos to friends or family members who have questions. What are private keys, public keys and a seed? What is the difference between hot and cold wallets? What are the different types of wallets? Today’s video is all about Bitcoin wallets and how to choose the best one.
We’re going to cover a lot of topics like mobile wallets, web wallets, desktop wallets, paper wallets, brain wallets, HD wallets, multisig wallets and of course hardware wallets. So even though we’ve got a lot to talk about, don’t worry, we’ll simplify it for you, and in the end we’ll also help you choose the best wallet for your needs. A Bitcoin wallet is a program to send and receive Bitcoins, store Bitcoins and monitor Bitcoin balances. Just like you need an email program like Outlook or Gmail to manage your emails, you need a Bitcoin wallet to manage your Bitcoins. Wallets monitor Bitcoin addresses on the blockchain and update their own balance with each transaction. Now here’s one of the most important things to remember about a wallet: What defines a wallet is where its private key is stored.