Before getting Bitcoins, making any transactions, sending and receiving payments, finding the best Bitcoin wallet is perhaps one of the first things that you should do. Wallets are designed to store information which is essential in transactions involving Bitcoins which allows users to spend Bitcoins. However, with the great number of Bitcoin wallets coming out, finding the best one could be quite a daunting task especially if you’re a beginner. So here are some tips that could help you decide on which Bitcoin wallet to get and make sure it is a secure one.
How to look for the best Bitcoin wallet? The internet is a vast area where you can find Bitcoin wallets but sometimes it is not enough to just get the first one you see or the one you think is a good choice. Before you can choose the right one to get, comparing different wallets from different companies will be of great help. So make sure to do your own research and compare. It is also important to look into features such as security, accessibility, privacy and, of course, ease of use. You need to find one that makes it difficult to spy on your account or balance and also keeps your identity safe.
What should you look for in the best Bitcoin wallet?
There are certain things that you need to consider when finding the best Bitcoin wallet. First, you must know what type of wallet you are looking for. Are you looking for an online Bitcoin wallet? Do you want to get a Bitcoin hardware wallet? Perhaps you are considering a software wallet or paper Bitcoin wallet.
An online Bitcoin wallet is one that can be accessed with the use of any internet connected device. With Bitcoin hardware wallets you’ll be able to secure your Bitcoins with the use of a physical device. Software wallets are applications which can be readily downloaded to a computer or to any mobile device like mobile phones or tablets. And printed wallets are just simply printed Bitcoin private keys.
Another thing you need to consider in choosing the best Bitcoin wallet is how you intend to use your Bitcoins. Do you plan to use it in purchasing or making payments online? If so, a mobile Bitcoin wallet as well as a desktop wallet is your best choice.
These types are very useful if you make frequent transactions online. Hardware wallets are secure wallets and this type is best for dealing with and storing a huge amount of Bitcoins. You can also have a combination of both hardware and software wallets if you wish to, depending on how you want to use them.
Best Bitcoin Wallet: Online Bitcoin Wallets
Storing private keys online is what online wallets are for. Of course, the only way to access this is through the internet and it is secured by a user-set password. Among the top choices are Bitcoin Core, MyCelium, TREZOR, Blockchain, and Coinbase.
Bitcoin Core is a desktop solution that provides a lot of privacy and security features. It also supports complete transparency. This software has low hardware requirements although it could take up a lot of memory on older computers. However, it is regarded as a stable system which makes it an excellent desktop app.
If you are looking for advanced security and privacy features, MyCelium is the best Bitcoin wallet. Being one of the safest and fastest to use, this software has become a popular mobile app wallet. Its advanced privacy features will keep you staying anonymous and its security features will definitely keep your Bitcoins secure. However, this app is only available for smart phone use and it is fit for advanced users.
TREZOR is an app ideal for storing a great deal of Bitcoins because it is an extremely secure wallet. It can be used in combination with other web wallets and is perfect not only for experts but for beginners as well.
The most popular wallet today is Blockchain. This app allows users to send and receive Bitcoins through a computer or a mobile device. It is considered as a hybrid wallet because it stores the wallet online but there is no access to the user’s private keys. And although it is an established Bitcoin company, it doesn’t ensure completely anonymous payments. This wallet is also ideal for beginners.
The leader in exchange service today is Coinbase. It is also ideal for beginners and it allows users to add funds from within their wallet. However, this wallet is not yet supported worldwide and there have been issues with regard to the company taking control over the users’ funds.
If you are looking for wallets to use, make sure you read on reviews and compare the features of different wallets to make sure that you end up with the only the best Bitcoin wallet.