What is a bitcoin wallet?
A bitcoin wallet is a method of storing your bitcoins. The wallet has two goals, protecting against loss, and protecting against theft.
Safety tips for a wallet:
- Backup your wallets on your computer regularly so that if your computer crashes, you will have access
- Do not use an online wallet for long-term storage or for storage of bitcoins that have a large value.
- Use a paper wallet for most of your storage, created with a site such as https://www.bitaddress.org/
- Use a hardware wallet – as of March 2014, only http://www.pi-wallet.com has hardware wallets.
- For large values, use an off-line computer for securing your bitcoin wallet to decrease the likelihood that a virus or other malware can steal your bitcoins.