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What is a Bitcoin Wallet? (in Plain English)

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A Bitcoin wallet is a device or program that stores your private keys and allows you to interact with the Bitcoin blockchain (i.e. send and receive Bitcoins).

It’s important to differentiate between wallets where you have complete control over your private keys (non-custodial) and those that don’t give you access to your keys (custodial).

That’s Bitcoin wallets in a nutshell. For the complete explanation keep on watching the video here’s what I’ll cover:

0:55 – Bitcoin wallets in a nutshell
1:22 – What is a private key?
1:55 – What is a Bitcoin address?
2:22 – What are HD wallets?
3:13 – Backing up your private key
3:41 – Different Bitcoin wallet available
7:30 – Cold storage wallets
7:51 – Paper wallets
8:25 – Hardware wallets
9:07 – Brain wallets
10:00 – Multisig explained
11:31 – How to choose a Bitcoin wallet
12:53 – Conclusion

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Ledger Nano X - The secure hardware wallet

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