What are bitcoin wallets?

Bitcoin wallets can be hardware products, or software running on mobile, the web or through apps. Some of the most popular bitcoin hardware wallets include Trezor and Ledger devices, while other popular bitcoin wallets include the mobile app Blue Wallet and the desktop app Wasabi Wallet .

Is it safe to store bitcoin in a software wallet?

Since software wallets connect to the Internet, there's a very small risk of hacking. Therefore, it is generally recommended to not store large amounts of bitcoin in your software wallet. That being said, if you follow password management best practices, it's safe to store bitcoin in a software wallet.

What is a desktop wallet?

Desktop wallets are installed on a desktop computer and provide the user with complete control over the wallet. Desktop wallets enable the user to create a Bitcoin address for sending and receiving the Bitcoins. They also allow the user to store a private key.

How do software wallets work?

Software wallets take the form of an app which is downloaded for free to your phone or desktop. You simply open up the app and can start making Bitcoin transactions almost immediately. Since software wallets connect to the Internet, there's a very small risk of hacking.