How do you choose a bitcoin wallet to store your bitcoins?
Before we get to the affiliate part of bitcoin wallet, lets talk out them in more details. After earning bitcoins you might want to secure them. Storing bitcoin can be one of the tricky things for most users since is digital currency which can be hacked in no time.
Securing your bitcoins can be one of the most important things in mind when using as a bitcoin user.
Accept for the major two hacks which involved two bitcoin exchange companies Mt Gox and Bitfinex, we’ve also heard of a a guy who formatted is computer and lost 150 bitcoins that were worth $67 000 at the time which he acquired when they were still $11 each.
Even though bitcoin is gaining more acceptance, it’s storage has been a major issue since it’s inception just like sensitive data in corporate banks or other major organizations.
The bitcoin community is working hard in securing the bitcoins hence we see all types of bitcoin wallets from the online wallets which are the most used, the software wallets, hardware wallets and more.
Types of bitcoin wallet Lets look at some the best ways to store bitcoins:
- Online Wallets: Online wallets were the first to come up and they are still the most used wallets, they can store bitcoins pretty well if they are not hacked. This allows the bitcoin exchanges or merchants to store bitcoins on your behalf. The popular online wallet that falls under this types of wallets are blockchain and coinpayments.
- Software Wallets: This type of bitcoin wallet can be downloaded installed in your personal computer or Tablet. Also known as Software Clients, one of the most used software clients is Bitcoin Core.
- Hardware wallets: They can be bought and used the same way you use internet dongles or USB device. They are tangible, and mobile friendly, some of them fit will in your pocket and they are considered to be the most secured wallets since your bitcoins don’t stay in a software that can be whipped or online where they can be hacked, they generate offline keys, the most used hardware wallet is TREZOR and LEDGER WALLET.
Hardware Wallets: If you feel that storing your bitcoins online or in a software on your computer then you might consider buying a LEDGER wallet, which will insure the security of your bitcoins. This ways you come your on bank, the only down fall is misplacing a]your wallet, you should never misplace your wallet because you might loose your bitcoins.