Bitcoin is an incredibly well thought out system, but understanding it all can feel overwhelming at first. This post covers what’s going on under the hood every step of the way, from creating a wallet to sending bitcoins. Creating a Wallet When you create a wallet, a new Bitcoin address and key pair are created automatically for you. Every Bitcoin wallet has one or more Bitcoin addresses associated with it, and every address has a set of cryptographic keys that allow a user to create transactions related to that address.
Bitcoin Desktop Wallets Your first step to getting into Bitcoin is to create a wallet. In Bitcoin terms, a wallet is comprised of a Bitcoin address and a set of cryptographic keys that allows the holder to create transactions for that address. As a reminder, a Bitcoin address looks something like this: 19QhXjxBytWXQEaqvu7GRR7JhnfTG9UWiY When you want to receive bitcoins you’ll need to provide your unique address to the sender, just like you’d provide your address to someone sending your mail.