A bitcoin wallet is the digital version of the wallet you carry in your pocket or purse. Put simply, the bitcoin wallet is the password that allows you access to your cryptocurrency collection. But the features of some bitcoin wallets are more complicated than that since some do not allow for the deposit or withdrawal of bitcoins from the account.

Many people think of block chain as the technology that powers Bitcoin and while this was its original purpose, blockchain is capable of so much more. Despite the sound of the word. There's not just one block chain. Blockchain is shorthand for a whole suite of distributed ledger technologies that can be programmed to record and track anything of value from financial transactions to medical records or even land titles.