Bitcoin Wallet Guide – Simple Answers To Your Complex Questions!

In Bitcoin wallets, you can send and receive transactions and maintain your crypto holdings by interacting with the blockchain. Each type of wallet has potential benefits and drawbacks, depending on your needs, regardless of the fact that they all perform roughly the same function.

As opposed to real-world wallets, crypto wallets do not store currency. Money is sent and received by using public and private keys. In a similar way to a physical wallet, Bitcoin owners store their coins in online or paper wallets. Bitcoins are protected and protected by wallets, which hold keys to each Bitcoin.

What Do You Need To Know About A Bitcoin Wallet As A Beginner?

Although it is called a Bitcoin wallet, cryptocurrency isn’t stored there. Wallets act as intermediaries between cryptocurrency holders and their funds, which reside on blockchains.

To make Bitcoin wallets as convenient as possible, they are designed with user-friendliness in mind. The average user won’t have to know about any of the complicated code and math that goes into the security of Bitcoin. Understanding the BTC wallet is as simple as understanding a few parts.

Bitcoin receiving addresses (also called public addresses) are addresses to which you send Bitcoin. To send Bitcoin from an exchange to your Bitcoin wallet, use the public address that you obtained from the exchange.

How Bitcoin Wallets Use Private And Public Keys?

Bitcoin addresses are similar to email addresses when it comes to privacy. You will likely receive a lot of spam if you post your email address in a public place. If you post your address on your bumper, nobody can hack into your email account.

Bitcoin wallet public addresses work in the same way. It would be impossible for anyone to steal your Bitcoin if you displayed your public address on a billboard in Times Square. You can share the public key with anyone who wants to send you Bitcoin. Sending funds to someone else would similarly involve using their public key as their destination address.

Unlike your PIN code, however, the private key must always be kept secret. Bitcoin transactions must be “signed” using this private key whenever they are requested to be transferred out of a wallet. That private key can be accessed by anyone with access to your wallet. This allows them to access your funds. As a result, please make sure you only use wallets from companies you trust. In addition, a wallet’s security is affected by the type of wallet used, so keep that in mind when choosing a wallet.

Let Us Understand The Types Of Wallets Available

A Bitcoin wallet may be online or offline, connected to the Internet or completely offline, ensuring the security of Bitcoin funds. As a result, Bitcoin wallets can be classified as hot or cold based on the information above. As opposed to cold wallets, hot wallets operate online.

In this context, a hardware wallet is one example. It is basically a physical USB that is intended to keep your Bitcoins safe. Bitcoin trading online is not as convenient and accessible with hardware wallets.

Hot wallets, however, are usually free and come in a variety of forms. Mobile wallets, web wallets, and desktop wallets are all examples of hot wallets.

A Bitcoin wallet is a wallet that stores Bitcoins. Now let’s go into more detail about the Bitcoin wallet:

You can access your funds through your web browser using the desktop, mobile, or web wallets. Desktop and mobile wallets are software programs or apps downloaded to your smartphone. The web wallet, as its name suggests, is a third-party server that is accessed through your browser. Accordingly, it is important to conduct research and choose a safe Bitcoin wallet and trading site that suits your financial goals.

Bitcoin Wallet Selection Process

The following recommendations will help you choose a Bitcoin wallet:

  • Credibility Should Be Considered

It is critical to keep reputation in mind when shortlisting the perfect cryptocurrency wallet. The quality of services will be the worst when you have a bad reputation

  • Make Sure It Is Available

Cryptocurrency wallets are most likely to be chosen based on their availability. It may not be possible for all of the options on the market to provide their services worldwide.

  • Make Sure That Security Guidelines Are Followed

It is perhaps never a good idea to compromise on security when you are searching for the perfect Bitcoin wallet. Digital tokens are highly valuable to you and will be stored in your wallet.

  • Locate A License

Fake wallets will not retain the license, so it must always be attached to the wallet. It’s therefore very important that you check out the cryptocurrency wallet company’s homepage as well as their about us page. Your knowledge about the company and its services will be enhanced by reading this.

  • Verify The Availability Of Coins

When choosing a cryptocurrency wallet, you should also consider the availability of multiple coins. A Bitcoin wallet is often made only for one digital token most of the time.

  • Make Sure You Know The Payment Options

In addition to cryptocurrencies, there are also payment options that you can use in order to trade them. Take a look at the payment options a wallet can provide if you want to pick the best one.

  • Record Checking

You can also study the company’s past records and learn more about them. The internet provides companies with a good reputation because they can upload their previous records.

What Are The Steps For Receiving Or Sending Bitcoin?

Bitcoins are easy to send as guided below:

  1. To send Bitcoin to someone (or an exchange), copy their public BTC address
  2. Go to your Bitcoin wallet and open it.
  3. Add the public address to the send field. Verify the public address was pasted correctly
  4. You must enter the amount of BTC you wish to send
  5. Press the send button

Using your Bitcoin wallet is as simple as sending an email once you’ve learned how it works.

How To Verify Bitcoin Transactions?

The first thing you need to know about crypto transactions is whether they are verified on the blockchain before you can use them, send them to your crypto wallet, and convert them to other exchanges. In cryptocurrency, a blockchain is an electronic ledger that records all transactions. By allowing the public to view every transaction on the blockchain, cryptocurrencies are made secure and trustworthy. Blockchain confirmation is required before any cryptocurrency can be transferred.

How to Set Up A Backup For Bitcoin Wallet?

It is important to create a backup of the Bitcoin wallet when you create it. Your wallet, and therefore your Bitcoin, will always be accessible this way.

The majority of wallets display a sequence of random words between 12 and 24. It serves as a backup for your wallet and is known as a seed phrase or a recovery seed. Ensure that you record this seed on paper and store it safely. Hackers can easily access it if they store it digitally or online. You can restore access to your coins if you lose your wallet login credentials.

How Do Bitcoin Wallets And Exchanges Differ?

Bitcoin wallets are software programs that allow you to keep your Bitcoins safe. Wallets hold and store your cryptocurrency, while exchanges do not. This is the biggest difference between the two. 

Whereas, a cryptocurrency exchange facilitates the exchange of cryptocurrencies for traditional currencies, such as dollars, such as buying, selling, and exchanging. One of the cons of exchange is security. Cryptocurrency access would be lost if a person lost access to the exchange.  

Since Bitcoin relies on both private and public keys, you do not have complete control over your wallet when you store your currency there. Each of these keys is required for accessing your currency. 

In addition to high security, ease of use, and long-term storage, Bitcoin wallets offer several benefits

Wallets Or Exchanges: Which Is The Best Option?

Based on our comparison of cryptocurrency wallets and exchanges. A wallet provides you with a much safer way of storing your cryptocurrencies than an exchange because exchanges depend on third parties who cannot guarantee security.

What Is The Cost Of A Bitcoin Wallet?

For the blockchain network to function, Bitcoin transaction fees are essential. Bitcoin is usually sold and bought via exchanges and brokerages that charge fees. Bitcoin network fees are entirely different from those charged by exchanges.

Essentially, transaction fees are the difference between payment sent and payment received. On the blockchain, transaction fees represent how fast a user wants the transaction to be validated. Blockchain miners validate each transaction in each block when they validate a new block.

How To Protect A Bitcoin Wallet From Hackers?

The security risks associated with cryptocurrency have made many people hesitant to invest, especially since it is currently up to the investor to protect their investment. There is no legal recourse for cryptocurrency transactions, unlike FDIC-insured bank accounts.

In addition to keeping yourself safe online, you can keep your cryptocurrency safe with the same habits that keep you safe online. The same practices they use to secure your online banking account should be applied to your crypto wallet. To keep your cryptocurrency investment safe, you can do a few additional things. Bitcoin wallets come with private keys that need to be kept safe.

Is It Possible To Use A Bitcoin wallet To Mine Bitcoin?

Your mining efforts will yield tokens or coins that you’ll need to store in a Bitcoin wallet. In wallets, tokens are sent and received securely through a unique address. The best way to store money online is with a wallet that operates online, but you can also use a wallet that stores funds offline. Before you begin mining, decide which Bitcoin wallet is right for you.

Through mining, pending transactions are confirmed in the blockchain by including them in the consensus system. It protects the network’s neutrality and allows different computers to agree on the state of the system by enforcing chronological order in the blockchain. For transactions to be confirmed, they have to be packed into a block that meets very strict cryptographic rules.

In such cases, previous blocks cannot be modified because, if they were modified, all subsequent blocks would become invalid. Furthermore, mining simulates a competitive lottery, preventing individuals from simply adding new blocks consecutively. By doing this, no group or individual can influence the contents of the blockchain or replace parts of the blockchain to roll back their own spending.

Is It Possible To Trace Bitcoin Transactions?

Bitcoin (BTC) transactions can certainly be traced. Bitcoin explorers provide a visual representation of Bitcoin blockchain activity. The blockchain can be thought of as an open database of Bitcoin transactions because of its transparency.

The Know Your Customer (KYC) requirements on centralized trading platforms, which require you to reveal your identity, are increasing in number. The government can learn more about your Bitcoin wallet when you disclose your identity.

It is possible to trace back and trace future transactions if the identity behind the wallet address is known. You can see details of each of these transactions. So, we can see not only the amount but also the date it was sent and the wallet to which it was sent.

Transactions from Bitcoin wallets whose identities are unknown can be traced quickly, but finding out who the wallet belongs to can take time. With cryptocurrency exchanges, it is already much easier to identify the wallet owner and trace back the transactions when exchanging cryptocurrencies for dollars.

Using a Bitcoin explorer, one can find a Bitcoin wallet address. It is not necessary to know the identity of someone just because you find their crypto address.

The use of multiple wallets and Bitcoin mixers can make tracking Bitcoin transactions difficult. In addition to disrupting the search process, these factors are time-consuming as well.

The public keys can be shared without any problems, but the private keys should not be discovered by third parties. Using the public key, you can send transactions securely.

Bitcoin Wallets Are One Of The Safest Ways To Store Bitcoins

Hackers are coming up with ingenious ways to steal funds from investors who are new to the system. Hacks have often been blatantly rerouting tokens that were destined for one wallet to another, which have been some of the most prominent thefts. It’s frustrating for the victims to watch their tokens disappear without them being able to stop them.

Your Bitcoins will be safer if you use the Bitcoin wallet because it has a better security system. You will be able to avoid a big crisis if your wallet is updated with the latest security patches and protocols.

Having multiple signatures has gained some popularity; it involves receiving approval from three to five people before a transaction goes through. In this way, the possibility of theft is limited since only one controller or server is capable of conducting transactions (e.g., sending Bitcoin to an address or withdrawing Bitcoin). In order to transact, each member of the group must ask others from the group for approval before spending or sending Bitcoins.

What Are The Benefits And Drawbacks Of Bitcoin Wallets?

Introducing new products and opportunities has been made possible by the cryptocurrency ecosystem. Bitcoin wallets are essential for accessing the ecosystem. Bitcoin wallets come in a variety of types. In addition to having different attributes, each has certain advantages and disadvantages. 

There Are Many Benefits Of Bitcoin Wallets

1. Protecting Your Information

With Bitcoin wallets, you can transact safely in the crypto ecosystem. There is a high risk of hacking on exchanges. The databases of centralized institutions have been compromised repeatedly. Digital assets such as Bitcoin and other digital assets can be accessed through Bitcoin wallets using private keys. It is similar to owning the only key to a safe you keep in your house.

2. Introducing A New Technology

An appealing aspect of owning a new piece of technology is that it is novel. The Bitcoin wallet market is evolving rapidly. Various types of mobile apps exist, including hardware, software extensions, and mobile apps for mobile devices. Public and private keys could be used by early adopters. New opportunities open up as a result of novel technology.

3. Keeping Account Information And Transactions Confidential

Bitcoin wallet security is something everyone should be concerned about. A virtual currency purchase would require you to ensure the safety and security of your investment. With an online wallet, you can be certain that your information is secure, your identification is secure, and your capital is accessible at any time. An encrypted login ID is usually required for highly secure sign-in procedures. As a result, you can ensure that others cannot access your accounts until you give them explicit permission to do so

Bitcoin Wallets Have Some Drawbacks

1. Quite Complex

Bitcoin wallets offer many benefits, but they also present a number of challenges. The adoption of crypto wallets is hindered by their complexity. Users can interact with the Ethereum blockchain using MetaMask. Binance’s chain is now accessible. Choosing the right platform is crucial for users. For transactions to take place, a sufficient amount of gas or Binance tokens must be held. Despite logging the funds in the blockchain, there are times when the funds don’t appear on the front end. 

2. Aggressive Actors

Malicious actors are attracted to new technologies and opportunities. Compared to centralized accounts, crypto wallets provide a higher level of security. Users will be scammed or hacked by malicious actors, however. 

In the hardware industry, Ledger has a good reputation. Its database was hacked, however, leading to user information leakage. Attempts were made to compromise the crypto wallets of Ledger users via email scams. In the early phases of crypto wallet adoption, staying diligent is crucial.

3. Quite Challenging To Understand How It Works

Nothing else can be said. The process of using crypto wallets is difficult. Even though it is nothing more than a piece of paper, you should store your seed phrase extremely safely. The physical device of a hardware wallet requires extra care. When confirming transactions, numerous steps are involved. Addresses with long alphanumeric characters must be double-checked. Despite doing everything correctly, there is still an underlying concern. Crypto wallets are often avoided due to their difficulty.

Taking Responsibility For One’s Own Actions (Pros Or Cons?)

Crypto wallets are associated with the word self-custody. Crypto wallets are known for their self-custody feature. This is entirely true, isn’t it?

It makes sense to keep your funds and digital assets in your own hands if you are technologically savvy and care about privacy.

There will be a tension between convenience and ownership as crypto wallets and the ecosystem, as a whole, are adopted. As a result, we will have to give up some aspects of ownership to make our lives more convenient. Having true ownership of our digital assets may require us to sacrifice convenience.

Here Are Some Interesting Aspects Of Bitcoin That Relates To Bitcoin Wallet Owners.

Is Bitcoin About To Change The World?

There is certainly more to Bitcoin and cryptocurrencies than just financial transactions. Originally, they attempted to create a new form of universal value.

Other than cryptographic algorithms, it seems that such currencies aren’t backed by anything. Cryptography provides reliability and trust, which are valuable in their own right. By creating cryptocurrencies, the creators appear to have declared that human nature cannot access this realm.

A feature like this cannot be found in the modern financial system. Banks produce their money instead, which is one of the factors influencing specific countries and organizations economically and politically. This means that the “old” money serves a very specific purpose.

While this is happening, there is a new currency emerging, one that is extra-governmental, and extra-historical, thus claiming to be the universal, absolute equivalent of gold.

Bitcoin Ownership: How Does The Government Know?

In order for cryptocurrencies such as Bitcoin (BTC) to exist, blockchain technology must be used. It is fundamental to blockchain technology that every cryptocurrency transaction on that blockchain can be observed by anyone, including the government.

Even though Bitcoin’s blockchain technology is anonymous, it also has a traceability element due to its transparency. Thus, Bitcoin could be considered pseudo-anonymous. Governments are hiring cryptocurrency experts to support their BTC tracking and identity verification efforts.

Authorities can request information from centralized exchanges, in addition to analyzing data themselves or working with private companies. It is also possible for centralized exchanges to be compelled to share such information as a result of regulation. Cryptocurrency exchanges, however, do not all cooperate with authorities.

Bitcoin: Is It Legal Or Illegal?

The purchase and holding of Bitcoin have never been considered illegal. As a result, federal parties have failed to decide on a single approach and policy when it comes to regulating the asset on a national scale.

A Howey test indicates that BTC is not a security, according to the SEC. As a result, FinCen does not consider cryptocurrencies as legal tender, and the CFTC does not view them as assets derived from the price of underlying assets, such as commodity swaps and options. According to the SEC(Securities and Exchange Commission), Bitcoin is a traditional currency like the dollar.

Let Us Understand A Few Common Concerns About Bitcoin Wallets.

How Secure Can A Bitcoin Wallet be?

The Bitcoin wallets used to store Bitcoins are generally not as safe as banks when it comes to insurance and security. As Bitcoins have become more valuable, there have also been a growing number of viruses designed to steal Bitcoins from wallets and cyber attacks against exchanges. Nonetheless, you must keep certain information secure, such as private keys. A private key functions as a PIN.

How Can I Recover My Old Bitcoin Wallet?

Try to recall the information that you need by making a few brisk trips into the past. Take a moment to think about your Bitcoin wallet, your email address and other elements of your BTC account, a list of possible passwords and PINs, and so forth.

These are the types of cryptocurrency wallets you can reclaim:

  • There is no doubt that Web wallets require Internet access, so scanning your browsing history for traces of the website of your web wallet provider is a good idea.
  • We recommend searching for the app on App Store or Play Store and re-downloading it if you accidentally deleted it or reset your phone. 
  • You can find Hardware wallets by searching every room of your house, every cupboard, every bag, every secret hoard, and anywhere you usually keep your essential items. 
  • You should search all your computer’s folders for desktop wallets. You should also check out locations that are rarely visited.
  • The trickiest wallets are the paper ones, which hide their access keys in pads or folders. Bins for rummaging, old folders, purses, drawers, etc.

Exactly What Is A Public Key In A Bitcoin Wallet Address?

Users can receive cryptocurrencies into their accounts by using a public address or public key. To secure your crypto assets, you need both a public key and a private key.

Each cryptocurrency owner must have a unique identifier or address – much like a bank account.

When you send cryptocurrency from another wallet or receive cryptocurrency from an external transaction, you can use the public address of your wallet.

Is It Possible To Convert Bitcoin Into Cash With A Bitcoin Wallet?

Bitcoin cannot be converted to cash at any time. Still, you can anonymously trade it on the blockchain for any fiat currency you choose. Depending on your wallet, you may be able to transfer fiat currency within one to three days after the Bitcoin sale is complete.

Bitcoin Taxation: How Does It Work?

A person’s country of fiscal residence and the specific circumstances of his or her situation determine how Bitcoin is taxed. Those who sell cryptocurrency in the United States must report these sales as taxable events, and they require different forms of tax reporting depending on the type of transaction.

In The Case Of Unreported Cryptocurrencies, What Happens?

Individuals’ lives and finances may be negatively affected by not reporting Bitcoin despite their obligation to do so. It is possible to receive a substantial fine for making an incorrect declaration, and in certain circumstances, it can even be considered a crime.

Does A Bitcoin Wallet Work Like A Bitcoin Address?

Bitcoin addresses are like bank account numbers, and Bitcoin wallets are like bank accounts. Your Bitcoin wallet is used to store the Bitcoins associated with your Bitcoin addresses. Bitcoin wallets consist of two keys, one public and one private, which allow a user to sign transactions and add them to the blockchain. These keys, being used to sign transactions, will allow that wallet to be recognized as the source of those transactions. This wallet will accept funds from other wallets using an address that is derived from the public key.

What Purpose Do Bitcoin Wallets Serve?

Transactions on the Bitcoin network are made using a Bitcoin wallet. With the wallet, you can sign transactions to other addresses by using the private keys for Bitcoin addresses. The balances for the addresses derived from the keys are also shown.

Does Bitcoin Value Grow In A Bitcoin Wallet?

Yes, growing Bitcoin means growing in price. Even if your wallet does not show the real-time price of the Bitcoin, the price of the Bitcoin you are holding in your wallet increases or decreases in accordance with the market price.

How Do I Trust My Bitcoin Wallet?

When you first begin to store your digital currencies in a digital wallet, it can seem overwhelming. In distributed ledgers, cryptocurrency transactions are digitally signed with secret keys managed by Bitcoin wallets. As the sole means of establishing ownership of digital assets and transferring or altering them, they are crucial to the cryptocurrency ecosystem. In the absence of those keys, the automobile will not start. In the absence of them, there would be no way to establish ownership of digital assets, be they Bitcoins or tokens that represent assets.

Can You Identify Someone By Their Bitcoin Wallet Address?

Since Bitcoin wallet addresses are not anonymous, but they are hard to locate, they are called pseudonyms, aliases that are not the same name as the owner’s real name. However, the data can still be traced by tracing a pseudonym or identity.

How Do I Check My Bitcoin Wallet Balance?

Checking the balance of a Bitcoin wallet address can be done in a few different ways. Blockchain explorers can be used as one method. Blockchain search websites allow users to locate transactions associated with certain Bitcoin addresses in the blockchain. In addition, you can use a block explorer to verify the balance.

In What Form Does A Bitcoin Wallet Appear?

Like USB sticks, they tend to look similar. Using this device, you can access the private keys for your cryptocurrency on a blockchain. Many people consider hardware wallets to be the safest way to store cryptocurrency since they aren’t connected to the internet and are physical.

Can We Have Two Bitcoin Wallets?

The answer is definitely yes. You can have multiple cryptocurrency wallets. Multiple crypto wallets are highly recommended if you want to hold and trade various types of cryptocurrencies as well as have significant transactions. As a result, your crypto assets are more secure.

What Is The Process For Putting A Bitcoin Wallet Into An Atm?

A QR code or an alphanumeric key will be used by the ATM to request wallet information. Use your mobile phone to scan the QR code on your Bitcoin wallet. You can also print a paper wallet at the kiosk if you don’t have a Bitcoin wallet, which you can later use to import your Bitcoins.

What Is The Maximum Length Of A Bitcoin Wallet Address?

There is no standard length for the address, but it usually ranges from 26-35 characters. Essentially, Bitcoin addresses are virtual locations where Bitcoins can be sent. Alphanumeric characters are used to represent it. 

What Can I Do With A Bitcoin Wallet Address?

Addresses are strings of characters generated at random and associated with blockchain wallets. An address can be generated at any time by the wallet owner to receive cryptocurrency transactions.

Can My Bitcoin Wallet Be Hacked Or Stolen?

Bitcoin wallets are vulnerable to hacking attacks due to security flaws. It is not uncommon for service providers to keep private keys inside virtual wallets as a convenience enhancement. In one fell swoop, hackers can steal both funds and access from wallets by exploiting their vulnerability.

Can I Report A Bitcoin Wallet Scammer?

Bitcoin wallets are vulnerable to hacking attacks due to security flaws. It is not uncommon for service providers to keep private keys inside virtual wallets as a convenience enhancement. In one fell swoop, hackers can steal both funds and access from wallets by exploiting their vulnerability.

Can I Report A Bitcoin Wallet Scammer?

It is possible for you to report a crime at your local police station, at the FBI’s Internet Crime and Complaint Center (IC3), or at the Federal Trade Commission. Scammed Bitcoin can be traced and recovered. In cases like these, knowing what to do next is crucial. To authorize the Bitcoin recovery process, you should first contact the local authorities.

When Should I Put Bitcoin In A Wallet?

You should withdraw the majority to a crypto wallet, whether it’s a hot wallet or a cold wallet if you’re withdrawing large amounts. It is not advisable to store crypto directly on the exchange unless you plan to regularly trade or if the amounts are small. 

Can We Trace Bitcoin Wallets?

Bitcoin (BTC) transactions can certainly be traced. You can track Bitcoin blockchain activity using Bitcoin explorers. Blockchains are essentially open databases of Bitcoin transactions thanks to their transparency, making them traceable.

How Much Are The Fees For Bitcoin Wallet?

If you just want to store Bitcoin in your wallet, a Bitcoin wallet won’t cost you anything. When you complete a transaction, however, the person who owns the exchange or device that houses your wallet will charge you various fees. Receiver wallets do not charge a fee when you receive Bitcoins, and you can choose how much you want to pay when spending Bitcoins. Transactions can be confirmed faster when your wallet charges higher fees.

What Is The Best Way To Find Out If A Bitcoin Transaction Was Successful?

Blockchain information for Bitcoin can be found at To track your transactions, you can enter your Bitcoin TxID, exchange address, or wallet address. In addition to the number of confirmations, you will see a summary of the transaction.

Why Should I Use A Bitcoin Wallet?

Digital coins are stored in Bitcoin wallets, which are also secured by unique private keys that ensure that only you and anyone you share the code with can open your wallet. Like a bank account password, it serves as a security measure.

How Do Bitcoin Accounts And Bitcoin Wallets Differ?

Addresses and wallets are two different things, where an address is a place where Bitcoins are kept, and a wallet is a program that controls that address.

Can I Use Bitcoin Wallets To Purchase Goods?

A cryptocurrency wallet is used for sending and receiving payments. The wallet you choose should be compatible with the cryptocurrency you intend to use. There is a growing number of retailers accepting cryptocurrency as a form of payment, both online and in person.

What Happens To Bitcoin Pending Transactions?

You may still be waiting for your transaction to be processed on the Blockchain if it is still pending. Until a Bitcoin transaction can be processed, it must receive six confirmations from miners via the Blockchain. Transactions involving Bitcoin generally take about an hour to an hour and a half. Occasionally, transactions are completed within minutes, but on other occasions, they remain unconfirmed for over 24 hours. Uncertainty over the confirmation of a Bitcoin transaction can be anxiety-inducing, but it is a normal part of blockchain technology.