Where is Bitcoin Stored – Wallets and the Blockchain

Bitcoin and other cryptocurrencies are stored in a wallet address contained in a centralized database called the blockchain. This is where all wallet addresses and amounts are stored.

All bitcoin addresses contain two variables: a public key and private key. This is the essence. For online wallets the public key is usually generated but the private key is stored internally.

What’s empowering is that you don’t physically keep the amount locally on a computer – as long as you have the key/s backed up you can access those coins anywhere through any online tool. With online wallets you need to ensure that the wallet provider is credible.

To find out how to create a wallet and buy/sell/trade bitcoins, go here.