Store your digital currencies
There has been an upsurge in the cryptocurrency and blockchain industry since the introduction of Bitcoin. It was developed as a firm substitute to fiat currencies, to be used daily for purchases and transactions, which are supported by government. There are different views and opinions on how effective and reliable digital currencies such as Bitcoin have been, in terms of the privacy, security, ease of access and transparent, as compared to traditional currencies. Investments and projects have been hinged on bitcoin due to its high value as related to fiat currencies like dollars and Euros. This has caused a great demand for Bitcoin in market and thus, it is important for this valuable crypto coin to be stored in a wallet – Bitcoin Wallet APP.
It is advised by experts in cryptocurrency that you should understand the risks involved before investing your money on Bitcoin and other crypto coins. One of these risks is selecting the perfect and apt wallet to store your Bitcoins. There is a high chance of losing your coins to hackers if it is not well protected or store in the right bitcoin wallet. A Bitcoin wallet can be simply referred to as a digital place where you can save your Bitcoin. Each Bitcoin wallet has a destination which is known as a wallet address. This wallet address is peculiar to just one wallet and has unique characters. The wallet address is used to receive Bitcoin from other Bitcoin wallet addresses, so long that address is known by the sender. Most Bitcoin wallets also keep both private and public keys. A private key is a paraphrase that is often required before you can successfully buy or sell bitcoin using the Bitcoin wallet.
Properties of Bitcoin Wallets
- Bitcoin wallets are mobile and lightweight. They can be easily accessed when you need perform a transaction or make payments;
- Bitcoin Wallet provides privacy to both your stored crypto coins and your transactions;
- Less complicated interface and user-friendly interface;
- Bitcoin wallets also possesses the platform that enables you perform other activities other than storing keys, coins and making transactions.
Presently, there are several types of Bitcoin wallets and some of them possess certain features that distinguishes them from others. With a wide range of available Bitcoin wallets, it can really be daunting deciding the particular wallet to use.
Below are some types of Bitcoin wallets and some of their features. These wallets include:
- Coinbase: This is the most preferred Bitcoin wallet to use. It offers an easy way to purchase, sell and also store crypto coins.
- Trezor wallet: This Bitcoin wallet is popular as the wallet that offers the highest security. It is a mobile device that is usually plugged to a computer to access the coins.
- Electrum Wallet: This is a software wallet which is the best Bitcoin wallet to use on your desktop computer.
- Robinhood: This is a new wallet for Bitcoin which started as a free stock trading platform. It provides storage for Bitcoins and also serves as an exchange platform.
- Other types of Bitcoin wallets are blockchain, exodus, Mycelium.
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