Articles on: Getting Started and First Steps with your BSP

What is a wallet or portfolio (personal safe) and how to choose it?

A wallet (portfolio in French) or personal safe is a tool that allows you to receive, send and secure your bitcoins and can come in several forms.
A simple piece of paper, an application for your smart phone or tablet, software for your computer or even a computer peripheral similar to a usb key.

Before going into more detail about the different types of existing personal safes or wallets, and their use, let's take a moment to clarify some important concepts, which should make it easier to understand this essential tool for securing and using your bitcoins.

A personal vault or wallet doesn't actually hold your bitcoins, just the information that helps control the bitcoins assigned to you. This is because bitcoins only exist in the distributed ledger on all computers in the bitcoin network.

You have to see this distributed ledger as a large duplicate account book updated simultaneously on a multitude of computers (the nodes of the Bitcoin network).
This account book is public and can be freely consulted by all.

The content of this account book is very basic, it contains a list of addresses.

Your personal safe or wallet allows you to interact with this distributed ledger_, (by offering to modify the entries in the ledger.)_
If you want to receive bitcoins, your personal safe or wallet will generate a receive address. This receiving address will be listed in the distributed public ledger as soon as someone has made a transaction to give you some satoshis on this address.

*_(As a reminder, 1 bitcoin (BTC) is divisible into 100 million satoshis (SAT), so you can receive at least 1 SAT on your receiving address.)_

To start your Stackinsat BSP, you need a personal safe or wallet compatible with Bitcoin. If you do not yet have a Bitcoin wallet, we advise you either to use the StackinSat Vault integrated in our service offer or to use a Ledger-type Cold Wallet.

If you do not have the possibility to get one, you can start with Green Wallet which is an application available on mobile and PC.

You can consult our tutorial which explains how to install this virtual wallet.

WARNING: We strongly advise you to read this article "Not your key, Not your bitcoin": bitcoins/**.**

Updated on: 12/06/2023

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