What is a bitcoin wallet? A guide for users

Bitcoin (BTC) - is the first and most popular cryptocurrency in the world that has changed our understanding of finance and digital assets. However, to use Bitcoin, each user needs a Bitcoin wallet. In this article, we will take a detailed look at what a Bitcoin wallet is, how to create it, manage it, fund it, transfer funds, withdraw them, and how to ensure security and choose an option that meets your needs. We will pay special attention to how users of the cryptocurrency exchange Gate can use wallets to manage Bitcoins and other assets.

Frequently Asked Questions about Bitcoin Wallets

What is a Bitcoin wallet?

A Bitcoin wallet is software, a device, or a service that allows you to store, send, and receive bitcoins. Technically, bitcoins are not "stored" in a wallet in the conventional sense. Instead, the wallet contains private and public keys that provide access to your funds on the Bitcoin blockchain - a decentralized network where all transactions are recorded.

• Public key or address is a string of characters that you provide to others to receive BTC. It is similar to a bank account number.
• Private key is a secret code that confirms your ownership of bitcoins and allows you to use them. Losing the private key means losing access to the funds.

Why do you need a Bitcoin wallet?

A Bitcoin wallet is necessary for:

• Storing and managing BTC.
• Sending and receiving cryptocurrency.
• Integrations with platforms such as the cryptocurrency exchange Gate for trading or investing.

Types of Bitcoin wallets

There are several types of wallets, each suitable for different purposes:

1. Software Wallets (Software Wallets):

   • Mobile (, for example, Trust Wallet ).
   • Desktop ( for example, Electrum).
   • Web wallets (, for example, built-in wallets on exchanges like Gate).

2. Hardware Wallets (: physical devices such as Ledger or Trezor for cold storage.

3. Paper wallets: printed private and public keys ) are an outdated but secure method (.

4. Custodial wallets: managed by a third party ), for example, the exchange Gate(.

5. Non-custodial wallets: the user fully controls the keys.

For Gate users, the built-in wallet on the platform is a convenient custodial solution, but for long-term storage, many prefer non-custodial options.

Creation and Registration

) How to create a Bit wallet?

Creating a Bitcoin wallet depends on its type. Let's consider the main steps:

Creating a wallet on Gate

1. Registration on Gate:

   • Visit the official Gate website.
   • Click the "Register" button and choose the method ###email or phone number(.
   • Fill in the details, confirm the Captcha, and accept the terms.
   • Confirm your account using the code sent to your email or phone.

2. Access to wallet:

   • After registration, the wallet is automatically created in the "Assets" section on the platform.
   • The address is ready for BTC top-up without any additional steps.

) Creating a non-custodial wallet

1. Software Selection:

   • Install an application, such as Electrum ### for PC( or Trust Wallet ) for phone(.

2. Key Generation:

   • The program will create a seed phrase )12-24 words(, necessary for wallet recovery.
   • Keep the phrase in a safe place ), for example, on paper (.

3. Settings:

   • Set a password and obtain a public address for transactions.

Hardware Wallet

1. Purchase the device )Ledger, Trezor(.
2. Connect to the computer and follow the setup instructions.
3. Write down the seed phrase and keep it offline.

Features of Registration on Gate

Gate does not require mandatory verification )KYC( for basic usage, which simplifies the process. However, to increase the withdrawal limit ) to over 30 BTC per day (, verification is recommended.

Access and Management

) How to access the wallet?

• On Gate: Log in using your email/phone and password. For enhanced security, enable two-factor authentication ###2FA( using Google Authenticator.
• Non-custodial wallet: Use the seed phrase or private key to log in when reinstalling the software.
• Hardware Wallet: Connect the device to the computer and enter the PIN code.

) Managing a Bitcoin wallet

Gate In the "Assets" section, you can see the BTC balance.

• Switch between the spot, margin, or futures wallet for different operations.
• Use the trading terminal to buy/sell BTC.

Software wallets

• Send BTC by specifying the recipient's address and the amount.
• Check the transaction history in the interface.

Hardware wallets

• Confirm transactions directly on the device.

Gate offers an intuitive interface that makes management easy even for beginners.

Top-ups and Transfers

Wallet Top-Up

On Gate:

1. Go to the "Assets" → "Deposit" section.
2. Select "BTC" and copy the wallet address.
3. Send bitcoins from another wallet or exchange to this address.
4. Wait for the network confirmation ###usually 10-30 minutes(.

Non-custodial wallet:

1. Open the app and find the "Receive" section.
2. Copy the address and use it to transfer BTC.

) Transfers between wallets:

• From Gate to external wallet:

1. In the "Assets" section, select "Withdrawal".
2. Enter the recipient's address and the amount.
3. Confirm the transaction through 2FA.

• Between Gate users:

1. Use internal transfer via email, phone, or UID for free.

• From a non-custodial wallet:

1. Enter the recipient's address and the amount.
2. Confirm the transaction, considering the network fee.

Gate supports fast transfers due to the high performance of the platform ###, 1.4 million transactions per second (.

Withdrawals and Fees

) How to withdraw bitcoins?

From Gate

1. Go to the "Assets" section → "Withdrawal".
2. Select BTC, enter the wallet address and amount.
3. Confirm with the 2FA code.
4. Wait for the processing of ### from 24 hours for new accounts, to a few minutes for verified (.

)# From a non-custodial wallet

1. Enter the recipient's address and the amount.
2. Confirm the transaction by selecting the network fee size.

Commission

Gate Top-up: free of charge. Withdrawal: depends on the network ### for BTC — about 0.0005 BTC (. Trading: 0% for makers and takers on the spot market, 0.010% for takers on futures.

Bitcoin Network The commission varies depending on the load ) from 1 to 10 dollars per transaction (.

Gate offers some of the lowest fees among major exchanges, making it attractive for active traders.

Verification and Security

) How to check a transaction?

• Use a blockchain explorer ###, for example, Blockchain.com (, by entering the address or transaction ID.
• On Gate, the transaction history is available in the "Assets" → "History" section.

) Wallet Security

• On Gate:
  • Enable 2FA.
  • Use the anti-phishing code.
  • Avoid suspicious links.
• Non-custodial wallets:
  • Store the seed phrase offline.
  • Do not share your private key.
• Hardware wallets: keep the device in a safe place.

Gate uses cold storage and multi-level protection, minimizing the risk of hacking attacks.

Access Issues

Typical Problems

1. Loss of seed phrase: without it, it is impossible to recover a non-custodial wallet.
2. Forgotten password on Gate: use the recovery function via email.
3. Account Locking: may be related to risk management measures ###please contact support(.

Decision

• Regularly back up your seed phrase.
• Contact Gate technical support via email )support@Gate( or through tickets.

Wallet Selection

) How to choose the right wallet?

• For trading: the built-in Gate wallet is the perfect choice due to its speed and convenience.
• For long-term storage: hardware wallets ###Ledger, Trezor(.
• For mobility: Trust Wallet or Electrum.

) Advantages of Gate

• Support for over 3000 trading pairs.
• High liquidity.
• Absence of mandatory KYC requirements.

Specific services and programs

1. Gate Wallet: built-in custodial wallet for spot and futures trading.
2. Trust Wallet: a non-custodial mobile wallet supporting BTC and tokens.
3. Electrum: a lightweight desktop wallet for experienced users.
4. Ledger Nano S/X: a popular hardware wallet.
5. Trezor: another reliable choice for cold storage.

Conclusion

A Bitcoin wallet is the key to your digital assets. The choice between custodial solutions like Gate wallet and non-custodial options depends on your goals. Gate offers easy access, low fees, and high security, making it a great starting point for both beginners and professionals. Start your cryptocurrency journey with Gate and experience the convenience of using Bitcoin!