Self-Custody Terms every new Bitcoiner should know!

self.Bitcoin1m ago
**Wallet:** a digital wallet used to send and receive bitcoin. While bitcoin is held on the blockchain, bitcoin wallets contain the private keys needed to sign transactions.  **Seed words:** a sequence of 12 or 24 randomly generated words. These words are a wallet’s backup. **Passphrase:** an additional word or phrase that adds an extra layer of security to your backup. Always store this separate from your seed words.  **Private key:** a secret alphanumeric password/number auto generated when you make a new wallet. A private key proves ownership. **Public key:** used in a transaction to verify that the owner of the corresponding private key has created a valid signature as proof of ownership of funds. **Extended public key (Xpub):** a master view into your bitcoin wallet. Anyone with your Xpub can derive all of your public keys (see every past and future transaction that you make). ​ Best options for self-custody Mobile: Samourai Wallet Desktop: Sparrow Wallet Hardware: Passport Wallet