A software wallet is a bitcoin application that sits on your computer’s hard drive and allows you complete control bitcoin core syncing great security, because each bitcoin you hold is only accessible on your own computer. This software, called Bitcoin Core, is developed and supported by the Bitcoin Foundation.
When your software wallet is installed, it creates the wallet. To find out how to get a software wallet, visit Bitcoin. Open source ensures transparency and allows users to check the source code to ensure it contains no malware or other suspicious code that could damage your computer or jeopardize your security. Different computers and tablets perform this sync in their own way, so be sure to check out how to sync a program on your device.
When you first download and install the Bitcoin Core software client — which you’ll need to download to use a software wallet — the installation may take a few days because it needs to download the history of every transaction ever created from 2009 to the very latest transaction. Every time you close the wallet either with a computer shutdown or by closing the application, remember to sync again next time you open the application. Securing your wallet The Bitcoin Core client allows you to encrypt a password — which we recommend you do, because with encryption, if somebody got their hands on your hard drive, they would need to know the password to get access to your bitcoins. And if you’ve set a hard-to-guess password, you can rest assured that your bitcoins are as safe as can be.
Every time you send bitcoins from the wallet, you’re asked for the password you used to secure the wallet, so make sure you set a memorable one. Backing up your wallet When you create your bitcoin wallet, please ensure to back it up within the software. You can put the backup file onto a USB flash drive or external hard drive, and with it being encrypted, it means you will be safe in the knowledge you can have access to your bitcoins again if something bad were to happen to your computer. Multiple bitcoin addresses When you install the bitcoin wallet, it allows you to create multiple addresses as required, which means you can have an address dedicated to people who send you bitcoins.
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