Thursday, 22 January 2015

What Is a Bit Coin Wallet

Bit Coins are still a relatively new idea but are becoming popular amongst individuals and companies who wish to carry out transactions over the Internet. And just as you would keep physical money in a wallet so too 'Bit Coins' are kept in virtual wallets, either in the so-called Cloud or on your computer.
So what is a Bit Coin Wallet?
Well a Bit Coin wallet can be a file located either on your hard drive on in the cloud on which the details of your private keys are stored. These keys relate to the amount of 'Bit Coinage' you have and also a detailed record of the transactions carried out using them.
Is there a hardware version?
Yes there is a hardware version of a 'Bit Coin Wallet' and the principle is that nothing other than the information relating to your 'Bit Coinage' and transactions can be saved to it or accessed from it. Some might consider it to be similar in practice to a partition on a hard drive and indeed it can take that form, but it can also be a backup made to compact disc or to a USB storage device.
At the present moment there are no definitive hardware versions in production but the news is they are coming so for the most part any one using 'Bit Coins' have the option to do so and save their data via the cloud or via their own computer or USB device.
We suggest regularly backing up your 'Bit Coin' wallet and by doing so you are keeping a constant record of what you have and how much you have spent etc. You are also making it harder for those nefarious, unscrupulous types on the World Wide Web to rob you of your 'Bit Coinage' as can be done if they manage to hack your wallet.
A good way to reduce the risk of hacking is to keep your wallet on your computer as opposed to in the cloud but it is worth remembering that should you forget the details relating to the wallet then it can prove difficult to access it again at a later date.
When it comes to 'Bit Coin wallets' on hard drives or other storage devices we are now regularly being tasked with retrieving such data from hard drives that have failed. There is sometimes no reason for this other than the fact that the drive is old and has become unstable or because it has sustained some kind of fault that was not previously taken into consideration when the storage of the wallet took place.
We can, and do, recover 'Bit Coin wallets' and do so using many years of data recovery expertise coupled with the most up-to-date equipment available to us.
Our experts have over 15 years in the arena of data recovery and provided that the hard drive has not been reformatted or additional information written to it during the fail process there is a 99.9% chance that we can recover all of the data on it including your valuable 'Bit Coinage'.
Contact us with your query via the 'Contact Us' page or telephone to speak to one of our friendly and professional experts who will give you advice on how best we can help.
To get the best start with Bitcoins go to  http://tinyurl.com/m9lm96d and be on your way to earning the income you deserve.

About the Author

Welcome to Birmingham Data Recovery, we are a leading data recovery company for all your, USB Stick Data Recovery, Hard Disk Recovery, USB Flash Drive Recovery Camera Media and USB Stick recovery requirements in and around Belfast. More information visit birmingham-data-recovery.co.uk

No comments:

Post a Comment