Bitcoin (BTC) is essentially a cryptocurrency. Since they only exist digitally, they can not be stored or held in their physical form. It is the private keys that are used to access Bitcoins publicly from anywhere. Essentially the Bitcoin address and transaction signatures are the ones that need to be kept secure. A transaction is only possible with the receiver’s public key and your private key. While the currency may only exist digitally, keeping it safe is still important, for which there are different Bitcoin wallets available that can be relied on to store your personal information securely.

Here are some examples of Bitcoin wallets:

Bitcoin Apps

When you search for BTC wallets, it will give you numerous applications that are free to use. Depending on the kind of device you are using, the applications may vary.

For desktops:

The applications are downloaded and installed onto your computer, which means that all the private information such as personal data and private keys are stored on your hard drive. This platform is more secure than your mobile wallets as they don’t rely on third parties for data, which makes it more difficult to hack into. Desktop wallets are an excellent option especially for those who make small bitcoin transactions.

Even amongst the desktop wallets, there is a variety to choose from. As each application provides its own set of specialization. Some examples are:

  • Atomic: Available for Mac, Windows, and Linux apps with 500+ properties, encrypted keys on your laptop, instant exchange, buy crypto choice, custody-free app, and a 24/7 support center.
  • Copay: Open source, available for easy multi-login and can be downloaded on both mobile and desktop.
  • Armory: Security and safety is the number one priority, it features various encryption and cold-storage options.

For mobile: 

A mobile BTC wallet is a must-have for anyone who uses Bitcoin regularly, whether it’s to pay for products in stores or for trading purposes. It runs as a mobile app, storing your private keys and enabling you to pay easily with your phone. Oftentimes mobile apps provide the ease of just tapping against the terminal to make the transaction. As mobile apps provide ease of transaction, there are plenty of applications to choose from. Some of them are listed here:

  • FreeWallet: Cold storage, as well as withdrawals and deposits from and into any cryptocurrency
  • Blockchain Wallet: Free source applications, hierarchical deterministic, and the ability to search Bitcoin merchants in your region
  • Atomic Wallet: Custody-free app with 500+ properties, instant trade, and buy crypto option.

Mobile wallets are the perfect on-the-go solutions. They keep private information secure and safe all the while making them accessible.

Understanding the full-scale importance and usage of a bitcoin wallet can often be difficult, however, it makes the experience easier. To know more information regarding Bitcoin Profit review and which option is the best to choose from for your Bitcoin wallet needs there are many platforms.

Paper Wallet 

Often printed as QR codes, a paper wallet primarily is a document that carries the address for receiving Bitcoin, as well as includes a private key that allows the spending of bitcoin or its deposit. In QR form, it becomes easier to make transactions and scan. Paper wallets can be generated through different websites, which ensures a random Bitcoin address with its private key is given to you.

The main feature and advantage of a paper wallet is its high security. Since it is stored offline, the chances of your wallet being hacked or stolen become minimal, making sure that the paper wallet stays with you safely. However, this does not mean it’s a hundred percent safe. There still are precautions that should be taken.

It is important to understand that a key piece of paper is being printed and so the necessary measures are needed to be taken. This document has to be treated like other documents such as a passport and license. So storing them in a high safe place is essential.

The Bank 

While different banks may not accept cryptocurrency and ensure its safekeeping, a Bitcoin crypto bank has been established to take the difficult storing matters from your hands. This bank is privately owned and provides another safer option to store your bitcoins.

The importance of Bitcoin Wallets 

The idea of cryptocurrency is strange to deal with. Bitcoin wallet provides full control and access over your cryptocurrency. The wallet ensures that no third party is involved in controlling or accessing your investments. Different options of storing personal information provide a bonus, to rely upon while making a perfect decision.