WALLET

Just like with paper dollars you hold in your physical wallet, a bitcoin wallet is a digital wallet where you can store, send,and receive bitcoins securely. There are many varieties of wallets available, whether you’re looking for a web or mobile solution. Ideally,a bitcoin wallet will give you access to your public and private keys. This means that only you have rightful access to spend these bitcoins, whenever you choose to. .

TRANSACTION

A transaction is when data is sent to and from one bitcoin address to another. Just like financial transactions where you send money from one person to another, in bitcoin you do the same thing by sending data (bitcoins) to each other. Bitcoins have value because it’s based on the properties of mathematics, rather than relying on physical properties (like gold and silver) or trust in central authorities, like fiat currencies.

PUBLIC ADDRESS

A public bitcoin address is cryptographic hash of a public key. A public address typically starts with the number “1.” Think of a public address like an email address. It can be published anywhere and bitcoins can be sent to it, just like an email can be sent to an email address. .