A Bitcoin wallet is basically a software program in which you store Bitcoin. Exchanges also provide a wallet—but you don’t necessarily have full control of that wallet. We’backup bitcoin wallet mac not recommending you invest in Bitcoin.
But, if you’re putting money into Bitcoin—or you’re just interested in how it works—you should know this stuff. So, we mentioned before that a Bitcoin wallet is a software program in which you store Bitcoin. To understand what a Bitcoin wallet is, it’s important to understand what Bitcoin is and how it works. RELATED: What Is Bitcoin, and How Does it Work? A Bitcoin wallet actually contains one or more private keys that allow you to sign transactions. These private keys are the mathematical proof that you indeed own a certain amount of Bitcoin. Think of these private keys as secret codes that allow you to spend that Bitcoin.