Bitcoin (BTC) is the original cryptocurrency: a scarce digital asset moved on the Bitcoin network with no single company in charge of the ledger.
Quick answer
Bitcoin lives on the Bitcoin blockchain. Your wallet holds keys that control BTC at your addresses. My Wallet lets you hold Bitcoin in a non-custodial multichain app alongside other networks—so BTC is one balance among many, not a separate install you forget to back up.
What Bitcoin is (and is not)
- Is: A peer-to-peer digital asset with a fixed issuance schedule and public transaction history.
- Is not: A stock, a bank deposit, or a promise of profit.
- Is not: The same as “crypto” in general—Ethereum, Solana, TON, and others are different networks.
Price can move sharply. Nothing in this guide guarantees returns.
How a Bitcoin transaction works
- You create a send in your wallet (amount + destination address).
- You pay a network fee in BTC for miners/validators to include the tx.
- After confirmations, the recipient’s balance updates on the ledger.
Fees rise when the network is busy. Your wallet should preview fee options before you confirm.
Addresses and backups
Bitcoin addresses are long strings meant for receiving. Always copy-paste carefully; send a small test first for new recipients.
Your seed phrase is still the master backup for a non-custodial wallet that includes Bitcoin. Protect it offline. See What is a seed phrase?.
Holding BTC: custody choices
| Option | Custody | Notes |
|---|---|---|
| My Wallet | Non-custodial | BTC + 16 other networks in one app; Telegram-friendly |
| Exchange account | Usually custodial | Easy buy; withdraw to self-custody for long-term hold |
| MetaMask / Phantom / Trust / Coinbase Wallet | Varies by product maturity for native BTC | Check whether support is native BTC vs wrapped |
| Keeper | Expanding multichain | Compare BTC depth vs TON strengths |
| Ledger Live + hardware | Cold-leaning | Strong for larger long-term stacks |
| Classic BTC apps (Electrum, BlueWallet…) | BTC-focused | Excellent specialists; less multichain |
If you also use USDT on TRON, SOL, TON, or EVM chains, a multichain self-custody wallet reduces app sprawl.
Practical starter path
- Buy BTC somewhere you trust for on-ramps (often an exchange).
- Withdraw to your My Wallet Bitcoin address.
- Back up the seed before the balance matters.
- Keep a hot balance for spending; consider hardware cold storage for savings you rarely move. See Hot wallet vs cold wallet.
Safety basics for Bitcoin beginners
- Fake “Bitcoin wallet” apps harvest seeds—verify publishers. See How to spot a fake wallet app.
- Nobody legitimate needs your seed to “validate” a transaction.
- On-chain sends are hard to reverse; double-check the address and network.
Download My Wallet
Download My Wallet to hold BTC with keys you control alongside your other networks.
FAQ
Is Bitcoin anonymous?
Pseudonymous. Addresses are public; tying them to identity is a separate problem. Do not assume invisibility.
What is satoshi?
A satoshi is a fraction of a bitcoin (the smallest usual unit). Wallets may display BTC or sats depending on settings.
Can I earn passive income just by holding BTC in a wallet?
Holding in self-custody is not the same as yield. Any staking, lending, or wrapping product carries extra risk—read terms and never assume guarantees.
Why does my exchange BTC look different from wallet BTC?
On an exchange you usually see an IOU balance. In a non-custodial wallet you control on-chain UTXOs / keys for your address.