Are your coins on the exchange or in your wallet?
Many people keep it on exchanges, and many people don’t even know what a wallet is.
Today I will tell you about wallets.
The wallet mentioned here is not a real wallet, but a tool for holding keys (private key and public key). With the key, you can have control over the digital currency on the corresponding address.
1. The private key represents the authority to withdraw money from a Bitcoin address. Once you master the private key, you have all the power of life and death on the corresponding Bitcoin address. The private key can be used to calculate the public key, and the public key can be used to calculate the Bitcoin address. For each transaction, the payer must issue a private key and the signature generated by the private key. The signature for each transaction is different, but generated by the same private key. The private key is a string of
2. The public key appears in pairs with the private key. The public key can calculate the Bitcoin address, so it can be used as a certificate for owning the Bitcoin address.
3. Bitcoin address: If the blockchain is a ledger, the Bitcoin address is the account number in it.
4. There are many types of wallets: cold wallets, hot wallets, hardware wallets, brain wallets, paper wallets, etc. I get dizzy when I see these concepts. I don’t think we need to understand so much. We only need to understand the application scenarios, whether it is mobile or PC, and I think we will only use light wallets. The full wallet that stores all transactions is too scary. If you are really worried, just install this wallet on a terminal that does not usually access the Internet to prevent hackers from stealing it.
Back to the topic, if you would put the coins in the wallet or on the exchange?
To prevent asset theft, do not click on unfamiliar links at will.
