Bitcoin is a decentralized cryptocurrency, offers decentralized financial transaction without any assistance from a third party. Due to complex nature of today’s Trading, We use third parties like banks, governments, notaries and so on, to facilitate our monetary affairs. These third parties require additional matters like authorizations, approvals, permissions to process money transactions and are functioned as a centralized structure to regulate all financial dealings. Bitcoin breaks this middlemen role of third parties and provides us with a convenient channel for the peer-peer transaction.
A wallet is just like a bank account, where we can transact our money. Likewise, bitcoin wallet allows us to receive, store and send bitcoins. There are mainly two kind Bitcoin wallets. A Personal bitcoin wallet that you can install and use on mobile and computer. This wallet gives you the complete authority of your bitcoin. But, maintaining a personal bitcoin wallet is a bit tricky and need updating on bitcoin security policies and transactions.
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