Bitcoin wallet – different types you must learn about!

Bitcoin is a digital currency that has gained massive popularity in a short time span. Currently, it is the most valuable cryptocurrency, which is one of the primary reasons behind its popularity. Despite that, there are several people who don’t have enough knowledge about it. If you are planning to invest in bitcoins, first, you need to learn how to store them safely. It has no physical appearance, so special digital wallets are sued for storing it, which is known as bitcoin wallets. You can use this New Option for Trading Bitcoin and to learn about different types of bitcoin wallets and choose the most suitable one.

Paper wallet 

There are different types of bitcoin wallets, but one of the unique ones is the paper wallet. A paper wallet is an offline wallet that is a piece of paper that stores all your private keys and bitcoins. It has a QR code on it, which you can scan to transfer the bitcoins to your wallet and make transactions. It is not much popular nowadays, but if you want to learn some information about bitcoin wallets, it is a great option. You need to be immensely careful while using a paper wallet as it requires to be stored safely. If you lose it, you may lose your bitcoins forever.

Earlier, paper bitcoin wallet was quite popular, but with the increasing popularity of digital wallets, its importance has declined to a great extent. It is quite secure as it stores your private keys offline, which makes it impossible for online attackers to steal them. There are numerous paper bitcoin wallets, and you can easily choose the best one.

Mobile wallet 

If we talk about accessibility and ease you there is no better option than mobile bitcoin wallets. It is the most commonly used wallet all over the world as it allows users to access bitcoins and make transactions over their mobile phones. Mobile wallets are the wallets that you can store on your mobile phone and access your bitcoins anytime and anywhere. It is quite easy to use as all you need is a stable internet connection.

There are different operating systems used in mobile phones, so while choosing a mobile bitcoin wallet, you must ensure that it is compatible with the operating system used by your mobile phone, such as iOS, Android, Windows, etc. Before you choose a mobile wallet, there are few crucial factors you need to consider, such as security, backup, User Interface, Private keys control, etc.

Desktop wallets 

The computer has become an inseparable part of our lives, and due to that reason, there are some bitcoin wallets that you can install on your computer as software and use with great ease. These bitcoin wallets are known as desktop wallets which you can install on different desktop operating systems such as Mac, Windows, etc. Most of the top bitcoin wallets have their desktop version, which you can access on any computer.

If you are using a desktop bitcoin wallet, you must have an Internet connection along with Antivirus and firewall installed on your system. Desktop wallets are at high risk of being hacked or attacked by online attackers, so you must take all the necessary precautions to minimize the risks to some extent. Such wallets are easy to use, but if we talk about security, they might not be a good option.

Hardware wallets

A hardware Bitcoin wallet is a physical USB device in which you can store private keys and public addresses. It is the safest way to store private keys as it is offline, which safeguards your bitcoins from all kinds of online threats. It is a USB device with a screen and few buttons for navigating through different functions. You can connect the hardware wallet to a PC to access the bitcoins, and the best part is that it is immune to all viruses. So, you can insert it even in an infected PC without any tension or worries.

Hardware bitcoin wallet may be a bit costly as compared to other wallets but if you want to get maximum security, paying a bit higher price is entirely worth it. You can store over 20 cryptocurrencies in hardware wallets which is quite impressive.

Leave a comment