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03_3_Setting_Up_Your_Wallet.md
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@ -22,7 +22,7 @@ Take careful note of the address. You'll need to give it to whomever will be sen
> :book: ***What is a Bitcoin address?*** A Bitcoin address is literally where you receive money. It's like an email address, but for funds. Technically, it's a public key, though different address schemes adjust that in different ways. However unlike an email address, a Bitcoin address should be considered single use: use it to receive funds just _once_. When you want to receive funds from someone else or at some other time, generate a new address. This is suggested in large part to improve your privacy. The whole blockchain is immutable, which means that explorers can look at long chains of transactions over time, making it possible to statistically determine who you and your contacts are, no matter how careful you are. However, if you keep reusing the same address, then this becomes even easier.
> :book: ***What is a Bitcoin wallet?*** By creating your first Bitcoin address, you've also begun to fill in your Bitcoin wallet. More precisely, you've begun to fill the `wallet.dat` file in your `~/.bitcoin/testnet3 /wallets`directory. The `wallet.dat` file contains data about preferences and transactions, but more importantly it contains all of the key pairs that you create: both the public key (which is the source of the address where you receive funds) and the private key (which is how you spend those funds). For the most part, you won't have to worry about that private key: `bitcoind` will use it when it's needed. However, this makes the `wallet.dat` file extremely important: if you lose it, you lose your private keys, and if you lose your private keys, you lose your funds!
> :book: ***What is a Bitcoin wallet?*** By creating your first Bitcoin address, you've also begun to fill in your Bitcoin wallet. More precisely, you've begun to fill the `wallet.dat` file in your `~/.bitcoin/testnet3 /wallets` directory. The `wallet.dat` file contains data about preferences and transactions, but more importantly it contains all of the key pairs that you create: both the public key (which is the source of the address where you receive funds) and the private key (which is how you spend those funds). For the most part, you won't have to worry about that private key: `bitcoind` will use it when it's needed. However, this makes the `wallet.dat` file extremely important: if you lose it, you lose your private keys, and if you lose your private keys, you lose your funds!
With a single address in hand, you could jump straight to the next section and begin receiving funds. However, before we get there, we're going to briefly discuss the other sorts of addresses that you'll meet in the future and talk about a few other wallet commands that you might want to use in the future.