BitcoinMadeClearWhich question would help you?
- What do wallets and keys do?
A wallet helps you manage the keys that approve spending. The bitcoin stays on the shared record. Think of a key ring rather than a purse full of coins.
- What is a Bitcoin wallet?
A Bitcoin wallet is software or a device that helps manage keys and payments. The bitcoin is recorded on the network; the wallet helps you approve spending it.
- What is a seed phrase?
A seed phrase is an ordered list of words used by many wallets to restore spending keys. Anyone who gets the necessary recovery information may be able to spend the bitcoin.
- What happens if I lose my phone?
Losing your phone does not erase bitcoin from the public record. Whether you can use it again depends on your wallet backup or the recovery process of the service holding the keys.
- What is a Bitcoin address?
A Bitcoin address is a destination for receiving a payment. You can share it with a sender; it is different from the private key or recovery words that approve spending.
- What is a private key?
A private key is secret information used to approve spending bitcoin. Your wallet uses it to make a digital signature that other computers can check without seeing the key itself.
- Are recovery words a password?
Recovery words are not an ordinary account password. Many wallets use them to rebuild spending keys, while a password may protect a device, wallet file or service login.
- Can I have more than one wallet?
Yes. You can use more than one wallet, but separate wallet screens do not necessarily mean separate keys. What matters is which keys each wallet controls.
Where could you start?
You can give a friend a receiving address. You do not give that friend your recovery words to receive their payment.