Today we focus on choosing the best online wallet for keeping your bitcoins (or any other cryptocurrency). It a very important issue since it is crucial to protect your private key and consequently our money. This is why I’m going to show you some clues and noteworthy wallets thai as I hope will help you in making a good decision.
At the very beginning, you must decide whether you are willing to pay for your wallet or not. It depends of course on the fact how much money you’re going to kepp there but in my personal opinion it is best to maximize the protection no matter how much bitcoins we owe.
Among the wallets we have several types of them:
- web wallets
- mobile wallets
- wallets as an app on your PC
- paper wallets
- and physical wallets/hardware wallets
For start we will take a look at the most popular wallet, namely the web wallet – blockchain. Access to it very simple and intuitive, moreover, it is available on any device. The most signicant thing with creating the wallet is to establish a safe password, at least 30 signs that are not full words, only a string of signs (letters, digits, etc.). Besides, it is a god idea to use the two factor authentication (2FA). The walllet might get hacked since it is an onliwe wallet, so I do not recommend keeping much money there. Apart from blockchain there are also Coinbase, Xapo and Circle that deserve consideration here.
Mobile wallets are mostly used on mobile phones as a simple app. But in this particular situation you must remember about keeping your mobile safe – to prevent stealing or damage. Besides using an mobile app will not guarantee us to stay anonymous which is helpful in trading cryptocurrencies (unless you use a foreign network). An undeniable advantage of this kind of wallet is the fact that you can pay for goods and services with a QR code. Mycelium and Xapo are most pupular appliactions for keeping your bitcoins on your mobile phone.
In case of wallets as an application on your PC there is one app that is doubtlessly most known – the original bitcoin client – Bitcoin Core. Again, is it essential here to have a benign password (30 signs at least, remember?) and to encrypt your hard drive additionally. Apart from Bitcoin Core there is Armory that ensures a high level of protections, Electrum that deals also with dash and litecoin, and fast and intuitive Multibit.
Most classic and deticated for traditionalists are surely paper wallets. They are very safe in usage (cause they are offline wallets). We can generate the address of our paper wallet for instance on bitaddress.org and keep it simply on a piece of paper.
Physiscal wallets or hardware wallets are as safe as paper wallets but they are most expensive option at the same time (several dozen of dollars or even more). After buying the hardware, you secure it with a password and pin. The pioneer among the physical wallets is definitely Trezor which can operate also on dash, litecoin, namecoin and dogecoin. You plug in Trezor to your PC with USB but it needs a special app. Besides Trezor you can think of Ledger Nano S, ChooseCase or Pi-wallet.
In conclusion, I would not like you to think that any of the above mentioned wallets will guarantee you 100% of safety – it won’t. Even so I hope that thanks to my post you”ve learnt something more on this topic and that is wil be helpful. I’m sure you’ll find something for you!
