Jump to content

What Are Bitcoin Wallets?

Featured Comment

Storing bitcoin in a safe location has its challenges. This is because bitcoins aren’t physically “stored” anywhere. As a purely digital entity, it is not as if they are held in bank vaults or stuffed under mattresses. They are accessible through Bitcoin addresses, which require a set of digital keys for entry. So, the question of how to securely store bitcoin comes down to the security of these keys.

Link to post
Share on other sites
  • 1 month later...

Bitcoin wallet - an electronic image of a device for storing banknotes of electronic cryptocurrency Bitcoin. A key is stored there that allows you to manage virtual money.
Typically, the keys are stored in an encrypted wallet.dat (wallet) file that is password protected.
Most popular wallets:
MultiBit HD,
Bitcoin Wallet,
Circle Snapcar,
Bitcoin core
Airbitz breadwallet,
Bitcoin wallet on computer
You must download the application. Keys are stored locally (if HD wallet technology is not used). Such wallets are:
thick - you need to download the entire chain of blocks and download new ones (the most reliable option);
thin - you don’t need to download full chains, so it’s convenient to use on smartphones and tablets, but one hundred percent security is not guaranteed.
Online Bitcoin Wallets
It is not necessary to download absolutely all network blocks, that is, save time and device memory. You can manage it remotely (via the Internet), save the addresses of other wallets, transfer bitcoins. Notifications are often provided.
There is a risk of service hacking and theft of virtual money. Experienced users recommend storing small amounts for a short time.
Mobile Wallets
They give access to bitcoins using devices based on iOS and Android. The technologies of reading and recognizing QR codes or NFC (Near Field Communication) are used.
Bitcoin Wallet is a standalone wallet for Android. The balance is displayed in different formats and currencies. Addresses are saved. Allows you to pay via Bluetooth, sends notifications about the receipt of bitcoins.

Link to post
Share on other sites

With all the wealth of choice, for storing crypto, in my opinion, it is better to use a cold blockchain wallet (convenient, reliable, since 2012 in the industry, the coma has calmed down and is now small - about the average daily average of 0.00009246 BTC) or hardware multi-currency wallets - Ledger Nano S or Trezor.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...