Best Bitcoin Wallets

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What are the Best Bitcoin Wallets?

Having Bitcoin wallet is very important as it is necessary to the receiving and sending of bitcoin. Bitcoin just like every currency is stored in a wallet or in this case a digital wallet. Transactions cannot be made with bitcoin without the need for bitcoin wallets. There are different types of bitcoin wallets available and they are outlined as follows.

  • Online bitcoin wallets
  • Software bitcoin wallets
  • Mobile bitcoin wallets
  • Hardware bitcoin wallets
  • Desktop bitcoin wallets
  • Paper wallets

With these different types of bitcoin wallets available, it is only paramount that there be a large number of bitcoin wallets available in the cryptocurrency market. Due to the fact that there are so many,  certain parameters need to be taken into cognisance to enable bitcoin users select the best bitcoin wallets to suit their needs. The following are the different parameters to take into consideration before selecting a bitcoin wallet.

  • Payment frequency
  • Accessibility
  • Online and offline security

These parameters were considered to produce the best bitcoin wallets available in the cryptocurrency market and they are outlined below

  • Ledger Nano

This bitcoin wallet is a hardware wallet and hardware wallets are essentially smart cards or computers built with the general purpose of offline production of bitcoin private keys. The private keys are produced and stored into the smart card secure domain.  Making use of the Ledger application,  the Nano can be structured. During the structuring of the application,  a 24 word seed is produced, this seed is very important and must be stored offline. With the seed, the wallet cab be regenerated in case of damage,  theft or loss.  This bitcoin wallet assesses a pin code go the users device to ensure maximum security and safety against hackers.

  • Trezor

Trezor wallet is one of the oldest hardware wallets in the cryptocurrency world. It is quite similar to Ledger Nano but where it lacks in unique and new features,  it possesses greatly in security. It is one of the most secure wallets available and it has a very simple interface with distinct security features. Trezor wallet just like Ledger Nano produces a 24 word seed during the structuring of the application and Trezor has an inbuilt screen were this seed is copied into and stored. Trezor wallet requires the addition of a passphrase to the 24 word seed to ensure its inaccessibility to hackers as it is a requirement that both the passphrase and the 24 word seed be available.

  • Electrum

Electrum is one of the most popular desktop wallets and this is because of its fast and easy to use interface. Electrum is a very secure and private wallet and it has the ability to send a users private key to another bitcoin user.  There are several distinct features that make this wallet very unique such as it has the ability to be compatible with hardware waters with the presence of a third party,  it also allows multiple signature walkers and it can connect through Tor.

  • Coinbase

This is the most popular bitcoin wallet on the cryptocurrency market. Coinbase has the multiple wallet day feature and it interface is very easy to use for both new and old bitcoin users. Coinbase is easily accessible to various makers and it has a GDAX platform for trading bitcoin.

  • Info

This online wallet has a simple interface and it possesses a number of security options such as 2 factor authentication which makes the wallet secure. This wallet is best known for its security and reliability. This wallets has an inbuilt ShapeShift trading which enables bitcoin conversion to be done easily.

Conclusion

These wallets are the best bitcoin wallets available at the moment, if you are a new or existing bitcoin user it is important that you make use of these wallets to ensure the safety of your cryptocurrency.

 

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