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Blockchain Education

Educational resources about cryptocurrencies and blockchain technology

Different Types of Crypto Wallets Explained
Blockchain Education

Different Types of Crypto Wallets Explained

The Important Bits A crypto wallet securely stores your private keys, which are required to access your funds on the blockchain. There are two main types, “hot” wallets, which remain connected to the

  • The BitPay Team
    The BitPay Team
7 min read
Using Multisig Wallets to Secure Your Crypto Assets
Blockchain Education

Using Multisig Wallets to Secure Your Crypto Assets

Crypto wallets safeguard your private keys, which are required to validate any cryptocurrency transactions broadcast to a blockchain network. Before funds can actually be sent or spent from a wallet, the transaction must

  • The BitPay Team
    The BitPay Team
9 min read
How to Import a Private Key/Wallet Using Your Recovery Phrase
Blockchain Education

How to Import a Private Key/Wallet Using Your Recovery Phrase

At the heart of self-custodying your crypto is full control of your funds: hodl to the moon, send and receive to/from friends, spend directly with merchants, buy your favorite coins, swap whichever

  • The BitPay Team
    The BitPay Team
3 min read
ERC-20 Tokens: What They Are and How They Are Used
Ethereum (ETH)

ERC-20 Tokens: What They Are and How They Are Used

There are different types of blockchains designed for various purposes. Some, like Bitcoin, are utilized exclusively as a digital ledger book for recording cryptocurrency transactions within the network. Ethereum, however, is more like

  • The BitPay Team
    The BitPay Team
4 min read
What is Proof of Reserves & Why Is It Important for the Crypto Industry?
Industry Analysis

What is Proof of Reserves & Why Is It Important for the Crypto Industry?

The stunning collapse of crypto exchange FTX near the end of 2022 sent shockwaves through the crypto industry, rattling trust and pushing asset prices into freefall. The events ignited conversations about the security

  • The BitPay Team
    The BitPay Team
3 min read
Lightning Strikes: The Rapid Growth of the Bitcoin Lightning Network Payments
Lightning Network

Lightning Strikes: The Rapid Growth of the Bitcoin Lightning Network Payments

In April 2022, BitPay added support for the Lighting Network as a cheap, fast and scalable solution to making Bitcoin payments. Since then, we’ve seen explosive growth in the number and volume

  • The BitPay Team
    The BitPay Team
2 min read
How to Secure Your Crypto Wallet
Crypto Wallets

How to Secure Your Crypto Wallet

Buying crypto, experimenting with dApps, making payments and seeing the value of your portfolio rise are some of the most exciting aspects of cryptocurrency. But most important is ensuring the safety of your

  • The BitPay Team
    The BitPay Team
4 min read
Crypto Wallet Addresses: What They Are and How to Create One
Blockchain Education

Crypto Wallet Addresses: What They Are and How to Create One

The Important Bits Crypto wallets are an essential tool for managing a user’s holdings on the blockchain, typically taking the form of a piece of software or device. One of the most

  • The BitPay Team
    The BitPay Team
6 min read
Crypto Wallets vs Exchanges: Which Is Best For You?
Blockchain Education

Crypto Wallets vs Exchanges: Which Is Best For You?

The Important Bits Crypto wallets and crypto exchanges have some areas in which they overlap, but they are not the same. Crypto wallets are pieces of hardware or software that serve as a

  • The BitPay Team
    The BitPay Team
7 min read
An In-depth Look at How Crypto Transactions Work
Blockchain Education

An In-depth Look at How Crypto Transactions Work

Summary Crypto transactions are processed differently than traditional fiat currency transactions. Instead of being transferred between accounts, crypto transactions involve shifting data around on the blockchain. The blockchain acts as a public ledger

  • The BitPay Team
    The BitPay Team
7 min read
How to Use and Spend Stablecoins
Spend Your Crypto

How to Use and Spend Stablecoins

Cryptocurrency is known for price volatility, which can see the value of a coin rise or fall significantly over a short period. The exception being the subset of cryptocurrencies known as stablecoins, which

  • The BitPay Team
    The BitPay Team
4 min read
What are Public and Private Keys in Crypto?
Blockchain Education

What are Public and Private Keys in Crypto?

Summary Crypto wallets come with an automatically generated set of keys, one public and one private. The keys are created using cryptography, a method of encrypting and decrypting information at the core of

  • The BitPay Team
    The BitPay Team
6 min read
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