What is the need for bitcoin wallet?

As you know that bitcoins is a digital asset, it can be only stored in digital wallets. It is same as normal wallets, which are used to store real money and rather than storing them this type is used to store bitcoins.

Why you need to store them in wallets?

A few of the most crucial reasons to store them is given below:

  • Because this bitcoin wallet contains two keys namely public and private, it is used to protect crypto currencies against accidental loss. Public key is your bit coin address which you must share to everyone and private key is like password. You have to change your address regularly in order to avoid future issues.
  • You can use them to make sure or verify whether the bitcoins you receive or store are genuine or not. There are different types of wallet and every transaction made is recorded into a public ledger called blockchain in which all users can see all completed transactions.
  • Today, you can find more hackers on the web and the best benefit of owning one is you will be able to protect them from being spied by others.
  • As the value of crypto currencies has been increasing, another main thing that you will get by having a digital wallet is you can protect them from thefts. The best merit is as a bit coin user, you can easily spend or also send them to others who have blockchain wallets with them.

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