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Cryptocurrency All-in-One For Dummies
book

Cryptocurrency All-in-One For Dummies

by Kiana Danial, Tiana Laurence, Peter Kent, Tyler Bain, Michael G. Solomon
January 2022
Beginner to intermediate
816 pages
21h 49m
English
For Dummies
Content preview from Cryptocurrency All-in-One For Dummies

Chapter 3

Taking Control of Your Wallet (and Hodling Your Bitcoin)

IN THIS CHAPTER

Bullet Understanding wallets and what they do

Bullet The different types of wallets, from brains to metal

Bullet Where to find a wallet

Bullet Working with BlueWallet

Bullet Using the Lightning Network

We show you how to buy and sell Bitcoin using other peoples’ wallets — the custodial wallets of the exchanges — in Chapter 2 of this minibook. Here we show you how to manage your own wallet. Before we jump in, though, we start by talking about what a wallet actually is (because it’s not entirely clear even to most Bitcoin owners).

Bitcoin purists believe that unless you manage your own wallet, you don’t truly own your Bitcoin. Legally you do own Bitcoin that you buy from an exchange, for instance, even if it’s held by the exchange and you use a custodial wallet provided by the exchange. That hasn’t helped all the people who have had their Bitcoin stolen from exchanges! To really understand Bitcoin, and have total control over your Bitcoin, ...

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Publisher Resources

ISBN: 9781119855804Purchase Link