Storing bitcoins - Bitcoin Wiki

Where is the bitcoin wallet stored. Cryptocurrency wallet

So you can really just store an offline backup of your wallet on a flash drive and you don't really need to run the wallet client actively until you want to make a transaction? Second, what is a "node"?

Any computer with a bitcoin wallet?

Reviewed By Julius Mansa Updated Jul 1, After reaching a peak in price late and subsequently fading from popularity, cryptocurrencies like Bitcoin have experienced a more modest surged once again in As this has taken place, so too have the number of publicized hacking events increased as well. Given that many investors are new to the system and may not know how to keep their investments secure, hackers are coming up with ingenious ways of stealing funds.

Way back when I wrote this answer there was really just the one wallet software and yes, it stored every single transaction ever. Today there are several options and not all of them store all data. Electrum, for example, runs thin clients which connect to servers that store the whole blockchain and many phone wallets only store blocks containing transactions that pertain to them.

where is the bitcoin wallet stored

In general, however, it is considered preferable for each node computer running software to store everything. Some information is stored on your PC in the wallet file.

where is the bitcoin wallet stored

Some information is stored in the public blockchain. Stored in your wallet file is the list of accounts that you control and the secret key needed to spend coins sent to those accounts.

Where do I store my Bitcoin?

Stored in the public blockchain held on every computer running the Bitcoin client is the where is the bitcoin wallet stored of every transaction ever made, including any transactions that sent you coins. When you wish to spend your coins, you check the blockchain to find unspent coins sent to you or mined by you.

where is the bitcoin wallet stored

You compose a transaction that specifies which unspent coins in the block chain you wish to spend and what account s you wish to send those coins to.

You can return any 'change' to an account you control.

where is the bitcoin wallet stored

You use the keys in your wallet to sign the transaction. You then broadcast that transaction to miners.

where is the bitcoin wallet stored

They confirm that your transaction is valid, making sure it spends only coins that exist, are unspent, and that it has the proper signatures. They make sure that the number of coins coming out of the transaction is less than or equal to the number of coins claimed by the transaction.

where is the bitcoin wallet stored

They then commit that transaction into a new block linked into the hash chain, and the transfer is complete.