I've been reading official BTC documentation and now I'm completely lost. Documentations is too tangled and written in unnecessary many words. They have:


https://en.bitcoin.it/wiki/Accounts_explained (no, actually not explained)


Please, somebody tell me the difference between them in a simple manner. What's an address, an account, a wallet, and how does the keys fit in.

  • No, I did not, but thanks to you - now I do!
    – Sly
    Feb 13 '14 at 21:59

"Accounts" are a concept limited to bitcoin-qt, and it's probably better to forget about them entirely.

Each address has a corresponding private key, that you use to move bitcoin out of that address. A wallet is simply a collection of (address, address_key) pairs.

Some people also use the term "wallet" to refer to the software that implements the wallet functionality.

Obviously, this is a grossly simplified answer, and not strictly true, but useful if you just want to understand bitcoin superficially.

  • Can you elaborate why Accounts should be forgotten? It is a useful feature which allows to arrange funds into buckets. Only end-single-user wallets doesn't need that feature.
    – jangorecki
    Aug 29 '15 at 1:43

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.