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If you’d like someone to send you Bitcoin then all you do is supply your Bitcoin address (Public key / address). But to spend Bitcoin from that address you need to prove the network that you are the owner of the private key of the associated public address. Hope that explains.
To get a Bitcoin address, you first need to download a Bitcoin wallet, which is software that allows you to securely send, receive, and store Bitcoin funds in the Bitcoin network. Bitcoin wallets also store your private key, which is essentially your Bitcoin password.
Bitcoin addresses are created as part of a key generation process that creates a pair of keys. They are a matched set, where one is public and the other is private. When you “sign” a bitcoin address you are running the public and private keys through an algorithm that checks to see that those keys belong together.
Without sharing your bitcoin address, it is not possible to receive funds from another party, so you have to share the Bitcoin address without a second option. Now the question arises that what can happen to my address once you make it public. Hackers can manage to find your address, but cannot do anything until you share them your private keys.
00:00 Introduction 00:17 Common Questions About Bitcoin Addresses 01:10 The Reason Why Bitcoin Wallets Generate New ...
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