Storing bitcoin in the safe location is a big challenge. It is because bitcoins are not physically “stored”. As the purely digital entity, this isn’t like they are been held in the bank vaults and stuffed below mattresses. They’re available through the Bitcoin addresses that need set of some digital keys for the entry. Thus, question on how you can securely store the bitcoin gets down to security of the keys.
Each Bitcoin address has got two keys: “public key” and “private key.” The bitcoin addresses will be derived from the public keys, and Bitcoin addresses will be shared. Just think of this like sharing the email address with somebody: They will send you the email but cannot get in your inbox for reading your email. In the same way, no one will get in the bitcoin wallet and take the bitcoins from their with the public key; it will be used only to send bitcoins. Thus, it is completely safe to share.
Reduced Transaction Fees
The transaction fees for the bitcoin payments are lower compared to ones that are made for the credit & debit card purchases.
The private key represents an ability of accessing the bitcoins belonging to specific Bitcoin address. It is a key that has to get secured in the safe place.
Before you get deep in the discussion, its worth to note that the people who do not want to control the private keys do not need to. Whereas it is advised that the Bitcoin users maintain total control over the keys, and there are the alternatives that do not need this.