Bitcoin wallet – how to choose the right one?

After buying your bitcoins you should make sure that your cryptocurrencies are safe. To do this, select a wallet on which you will store your bitcoins. It will also be used to send and receive BTC or other crypto.

There are many types of wallets, both for Bitcoin and for other digital currencies, and here we will show you the most important ones. So you can control your funds efficiently.

When choosing your wallet, you should be guided by the way you will use your cryptocurrency. Larger amounts of crypto, instead of on the stock exchange, are much safer to store in a wallet over which you have full control.

Desktop wallet

Which is a wallet for your personal computer. It is a popular and easy to use solution. There are many such applications available. They are installed in the same way as most of the programs on your computer. Popular desktop wallets are Exodus or Electrum (although the latter is recommended for more advanced users).

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Browser wallet

A browser wallet or an online wallet, as the name suggests, gives you access to your cryptocurrencies from your browser through a special website. After logging in, you can receive and send cryptocurrencies in a quick and convenient way. Remember, however, that in the case of this solution you do not have full control over your funds. For this reason, a wallet installed on your computer is a more reasonable idea. However, if you do not store large amounts of BTC, you can use your Coinbase wallet or Blockchain.com. This will allow you to enjoy the comfort of accessing your funds from any device with Internet access.

Hardware wallet

This is one of the safest ways to store cryptocurrencies. Your digital assets are stored offline, i.e. outside of permanent internet access. Cold storage” ensures the security of your private keys and all transactions must be confirmed with a PIN. Do not be misled by the external similarity of these devices to ordinary flash drives. They use a dedicated operating system, and certified chips that are as secure as government and banking systems. An example of such a wallet is Ledger.

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Offline wallet with online access

A great example of such a wallet is Guarda.co. Guarda is a multi-portfolio fully offline, where data does not go beyond its own computer and is not stored anywhere on servers. The private keys are located in an encrypted by the user file password and the guarda.co is used only to read it. Simply put, Guard’s website is simply an interface that allows the user to manage their private keys. The keys themselves are saved on the computer as a file, encrypted with a chosen password.

Bitcoin payment cards

Mobile wallet

Mobile bitcoin wallet is a convenient way to store and transfer your cryptocurrencies directly from your smartphone. A popular and proven mobile wallet is e.g. Mycelium. It is available in both Android and iOS versions. Smartphone users can also pay attention to Samourai Wallet.

Barry Smith

Hi! My name is Barry Smith and I've been interested in the cryptocurrencies and blockchain industry for 4 years. I create crypto-earn.co.uk to share my knowledge with other users and give them the opportunity to make money by investing in bitcoin. Thank you for reading my articles, but remember that these are only my own observations, not investment advice.

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