What is a Bitcoin Wallet? (in Plain English)
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- Опубликовано: 7 фев 2017
- Start trading Bitcoin and cryptocurrency here: bit.ly/3pupsNJ
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
For the complete text guide visit:
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See anything we haven't covered? Leave us a comment in the comment section below 
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CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻
Thanks for posting this warning, I’ve noticed most other channels don’t bother even tho their comment sections are rife with scammers
Thanks.
I want to find out more about Bitcoin wallet
Thanks your channel is a great help to understanding crypto.
I work with a really smart dude who had made like 40k off of his bitcoin and he was mad that he didn’t wait because he dumped a quarter of his coins (he bought in ground level basically) so he’s making complete profit.
Anyway, he is the only person I could understand besides this guy that has explained it to me. This guy on the video is better at explaining because I don’t have to interrupt him every 5 seconds to ask what something is lol thanks to that guy I work with, I have a very basic understanding and it’s only getting easier from there once you understand the bare mechanics of block chain.
Mother of God that was sooo much nicer than listening to my brother-in-law's explanation
I laughed so hard I had to read it again!!!
Lol hilarious
hahahahaha
I figured out bitcoin trading the hard way lol
@@bryanwhite5878 lol tell me about it
How did anyone not like this?! If your not interested, then just move on to another video. If you didn't understand, watch again on slower speed. It isn't this guy's fault.
I have to tell you, that is such a professional and detailed explanation. This was precisely the information I was seeking. Thank you.
Gotta love how he smiles/smirks every time he gives you warnings against the worst risks 😂
I like you simplified version of explaining, you really opened my sight
Finally a good documentary for learning crypto coins! Congrats!
This is gold! How does this man only have 120K subscribers?
I don't even think most people know they should be learning this.
481k now. I think as bitcoin become more popular and mainstream, he will definitely grow more because his explanations are so easy to understand
No, this is bitcoin!
Thanks for watching,don’t forget to hit the subscription button!! For advice and insight hit the number above
I've seen different recommendations about this ADMIN they must be very exceptional for people to talk this good about them
Congratulations for the content and thanks for making this easy to understand!
Then have you been thought about investing in it to earn a passive income through bitcoin?
Thanks a lot for your up to date and preceded teaching
Wow, I appreciate how you explain the different bitcoin wallets. It easy to follow. ,🙏🙏
Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!
So clear and concise.
Finally, somebody that explains cryptocurrencies without using "crypto-nese" to explain it. If you are new to the crypto world and want to know more without learning from pretentious young slick bots, that are in love with their own voice, leaving you in a jaw-dropping state of confusion, do yourself a HUGE favor, and watch every video this guy puts out!
you are good teacher ever
Very informative video about crypto-wallets. Learnt a lot. Thank you.
What a great way of explaining things.... Great. Keep it up.
I truly enjoyed your explanation... But now I need more help from you
This is really great,it's just one of the best crypto channel here on youtube
After watching a number of sites explaining Bitcoin, I must compliment u on bn the best one I've found.
Ur logical and simple explanations r very informative and easy to understand.
Because of this, I now understand Bitcoin quite well.
Very awesome, great job! 👍
You are gifted
You are an AMAZING teacher! 👏🏼
He's really amazing
He's really amazing and awesome
I wish you could have been all my teachers in highschool
when ai becomes mature enough, this is how it's going to sound :)
I've seen different recommendations about this ADMIN they must be very exceptional for people to talk this good about them
Thank you! Thankyou! Thank you!
Nice content!
Once again, I learned something and nothing at the exact same time !
I’m to old for this stuff!
You are doing great
Thank you!
Lovely and explanatory course
found it lol thanks!
thanks bro
Thank you...^^
🤯🤯🤯thank you for the wisdom kind sit
I loved, those videos help me to know more abbout the cripto monedas
It helps a lot. Thanks.
Glad to hear that!
hands down the best video on Bitcoin basics !!
Yeahhhh! Now I know all there is to know about bitcoin.🤔. I still don’t have a clue
I know right?!?! But it’s ‘something’ isn’t it? Yah it is...isn’t it?
I know. I feel like I just watched a Chinese language show. Is everybody in the world that much smarter than me?
Nice one
Super easy to understand for beginners thanks!
Great to hear!
thank you
Been in Crypto for over 2 years,,, but having your videos to share with friends is perfect, clear and precise and simplified.... thank you.
Great video! Thanks for adding to my crypto knowledge.
I find it hard to believe there are still good people until I’m convinced by your loyalty 💯🙏you are the best
This gives me more understanding than listening to someone
These are great videos even for ppl who consider themselves “experts” the basics are important. Not everyone is a quant, these are perfect for the every person.
been enjoying these videos, thank you
Fantastic tutorial for its structure, substance and accessability to everybody. Thank you!!
As an aspiring a small investor in BTC, what is the minimum amount of BTC to be able to create my wallet (and have my address, private key, etc).
I saw this as well. Number 14 💕
Thanks. Nice video. want to know, can hardware wallet be affected by Xrays or Magnetic fields?
I'm coming back later for the course
Thanks for the vid!
Great course thank you
nice
I think a smart bitcoin investor would use a combination of hardware and paper backup in a safe for maximum security. Web wallets are NOT secure.
best videos I've seen yet and I've seen a million. Simple and to the point
What a fantastic video! And wow, are you ever good at speaking and explaining!! Great job!
I would like to ask if I have my crypto wallet in my mobile can I transfer it to a hard wallet directly from my mobile because what I see is all soft wallets that gets transfer to a hard wallet is from laptops and computers.
When you say 'Bitcoin Wallet' are you specifically referring ONLY to Bitcoins or does it include all other Cryptocurrency? What I mean is do I need a seperate Ethereum wallet, TRON wallet, Binance wallet and so on ... OR will one wallet hold all my cryptocurrencies?
Hi. Thank you for the video. I don't see the list of bitcoin wallets or suggestion of bitcoin wallets recommended?
Love these educational videos. Thank you so much!
Glad you like it. A new one is out today :)
Beware of scammers Hacker Mark is the best bitcoin hacker he topped my wallet with 5BTC contact him danielsmark2121@gmail.com thank me later
Now I know how important is it to invest in bitcoin!!
so if you are just trading bit coin it it best to store it on the hard wallet?
Nice one though
Can I just use this once or twice ?
Can you have both online triple authenticated P/W 'ed wallets and hardware sharing varying amounts of the same coin ?
I would like to watch your videos from the beginner level to more advanced. How do I know the order of the videos I should watch. I dont want to jump ahead and learn something more advanced before I learn the basics. I cant see any particular order for the videos. Please can you advise. Thanks
Somehow I can't fathom having my life's savings on a fob, piece of paper, phone, in my head, or laptop. But I do want to embrace crypto.
The cryptocurrency market has made a lot of people very wealthy over the past decade. However, due to the volatile nature of the prices of digital currencies, it is understandable that many people, especially new traders are hesitant to trade crypto currencies. The good news is that now, there are many trading tools, such as trading signals, automated trading software and more, that enables traders to trade Bitcoin and other cryptos profitably. I have been trading with a pro trader who has helped me accumulate over 2.5BTC for the past 3weeks with just my starting 0.7BTC can equally help you achieve that. If you're a trader or a new comer to the cryptocurrency space, this is the right time for you to hold more Bitcoin now
@Loredan 😂😂 really silly billy
@@bryanwhite5878 scammer
@Gehrig Halbert bitcoin / ethereum etc. can't be adjusted at will by the Federal Reserve or anyone else for that matter. That is actually a major reason why it was invented. It is not ANY nationality specific. Cash on the other hand (U.S. for example) is looking at a serious recession sooner than later. The amount of national debt has sky rocketed and it going to keep going with new proposals. While your $10 ends up having $4 worth of buying power, crypto is not subject to any countries economic problems.
@@someoneelse6934 "crypto is not subject to any countries economic problems." This is because crypto has no actual value. Nothing backs crypto but faith in crypto. Ergo, it's the fullest expression of fiat currency.
I’m not sure which wallet to use. I think this is great way handle money, checking out hotels.
which is best web based wallet?? or how to open web based wallet
all the big exchanges like binance and bitfinex have wallets
Thx a lot for the practical explanation. I'm about to create a desktop wallet, and my question is: What about if my computer (that is an old one) gets broken, or suddenly not function anymore, what should I do in order to not lose my bitcoins?
3:13 - Backing up your private key
Data doesn't really exist unless you have at least two copies of it, in this case its your Bitcoin.
If you're DCA should you move your crypto after each purchase even though (in my case) these are tiny amounts or wait until you reach a certain level ? Is there any advantage or disadvantage to either ?
Hi Michael,
You should regularly move your crypto to wallets that you control. You shouldn't keep it in an exchange.
The biggest disadvantage of keeping crypto in an exchange is that you can lose it if the exchange is hacked.
👍
0ssy u just started with bitcoin investment which is D best wallet to have??
very good
THanks a lot , your explanations are so clear!
Beware of scammers Hacker Mark is the best bitcoin hacker he topped my wallet with 5BTC contact him danielsmark2121@gmail.com thank me later
Is the private key wallet ID
Loving how you guys explain crypto stuff, always use your insights! Agree on the hardware for big sums, and mobile ones for daily operations, practicing the same by myself. Ledger Nano/Lumi Wallet best combo ever!
What other hardware wallets available to use ?
Can I buy a product over seas using bit coin?
Keplr wallet for the win
Hi Nate - great vids. Thanks 🙏. How would you remove BTC from Coinbase if holding? ... and how do I sell them in the future?
@tjmillionairementor no thanks Scammer. Get a life.
What's the best phone wallet for one time use?
How early is too early to get a wallet? I was told that I don't need a $150 wallet to protect $250 worth of crypto currency... What do you suggest?
what is considered a large amount of bitcoin?
My family member has a PayPal, Crypto, Coinbase mostly because of purchasing different currencies. Is this a problem ?
Hi Nate, ive got a question. I have transfered some amount of btc from my outside wallet app to my btc add exodus wallet app. It is confirmed and successful in the blockchain however it didnt display on my btc exodus wallet. Where did my btc amount go then it beens more than 24hrs from Aug.9 from 21:32hrs to Aug.10 21:32hrs.
any update on this?
Good video. Very interested in the story about the individual who lost 4 btc with the pass phrase from an Afrikaans poem.
The secret of your future is hidden in your daily routine. successful people do daily what the unsuccessful only do occasionally
successful people don't become that way overnight. what most people see at a glance-wealth, a great career purpose is the result of hard work and hustle over time
The amount of time you spend believing we can't is more than enough time to learn how you can
@@roddenvirginia2374 yeah! I agree with you
people come here with the aim of chasing money more than knowledge and that will damage your progress, trust me. Chase knowledge frist and I promise! the money we follow you just like it's following some of us now
people wants to do what the 99% but wants to get results that fit for the 1% but it doesn't work that way
Hi where could I avail a bitcoin hardware wallet?
But a little off topic, how can you withdraw USDT from an OKX wallet to a card if there are only these words: head isolate sound end kit industry choice festival limit stable dolphin derive. There is nothing else.
How to transfer your Bitcoin from cash app to your wallet.
It still isn’t clear to me how this works
Some points are not clear, but interesting) And the question is, there is USDT on the OKX wallet, how can I transfer them correctly to Binance, only the seed phrase is: head isolate sound end kit industry choice festival limit stable dolphin derive. I don't know anything else.
Interesting. Thanks.
You've got to have conviction in your ideas, otherwise you won't know if you should double down on a long-term winner, or if you should pack your bags and sell.
"Most of the bitcoin wallets are listed on this page...", he said. But there are none listed on this page. If I click on the highlighted site, I am not taken to a listing of the wallets, but rather to a signup page requiring me to become a "member". I consider this misleading, and I do not trust people who mislead me at the outset.
@@Nostrildomus - Where does it say " Show More"..?
This is all great for the younger people who are tech savvy , brain over load I’m forgetting bitcoin to much bs gotta go through , normal currency is easier for me , I
I’ll enjoy cash while it’s around . Older people just can’t follow this stuff . Now I know a bit more about wallets the more I’m not interested in bitcoin . Enjoy.
How do i create hard wallet..??
Oh boy...