The most leading cryptocurrency all over the world is bitcoins. Where some people might be new to this, other investors have been dealing with bitcoins for a lot longer. Keeping your bitcoins safe and guarded against online hackers stealing is very important if you want to continue and prosper in the bitcoin world.
The virtual currency experts say that bitcoins are the easiest and safest currency to use in the technological and digital world today. But the truth is that investing in bitcoins is still as risky as it was on the first day since security is still a major issue regarding bitcoins.
Bitcoin wallets are meant to keep your cryptocurrency not only secure but also make it easy to manage through devices such as mobile phones or personal computers. The wallet allows the right use of the currency, only when the owner provides the private access keys. Since the only person who can use the wallet is the owner of those keys, this lowers the chances of third parties stealing the access keys.
Ever since there was a spike in bitcoins investments there have been a lot of bitcoin wallets but there are only a few top ones that guarantee sufficient protection against theft.
This is a cold wallet or an offline wallet application best suitable for iOS and Android users. It is very user friendly especially for newbies who are just learning to get their way around using and handling cryptocurrencies. It is free of cost purchase that allows the user to enjoy features such as QR scan code payments, keeping offline storage and keeping the access keys private. Managing cryptocurrency including selling, buying, transferring or exchanging can also be done using Mycelium.
If you are looking for a digital wallet that provides maximum hardware security then Trezor is the one built for you. The trezor hardware device has a screen that can simply be connected to your computer on which you can run a secure connection and manage your currency. It also gives you offline security of bitcoins. There are different Trezor models available in the market depending on the quantity of the digital currency you own, but no matter how much is it if you ever find yourself in an unfortunate situation of losing this device or the recovery codes you will lose your bitcoins forever. Bitiq helps to know more about the deep aspects of bitcoin.
Exodus is a cryptocurrency for your computers as well as your mobile phones. The software application is built in a stress-free and tech-savvy manner that the users find simple to use. There is no cost of the purchase of Exodus. The private access key is stored in the computer through which you can administer Exodus and handle the transactions of your bitcoins. It displays the currency in a profile that includes graphs to help you compare before you can make an exchange. Just remember to make a backup of the access data in case the device on which you have exodus gets into the wrong hands.
The most popular and the best type of cryptocurrency wallet to manage bitcoins is Coinbase. It is easy to transfer, store, buy, sell or exchange bitcoins through Coinbase by joining the bank account and allowing easy flow of dollars. A bonus for users of Coinbase is that they can earn extra digital currency by participating in quizzes and watching free videos. It is a very active medium of dealing in bitcoins but you should look out for the high transaction fees that can increase when you convert the currencies for exchange. Investors have also complained about Coinbase malfunctioning at times.
Disclaimer, Robinhood is not a cryptocurrency wallet neither does it claim to be. Robinhood is an active platform free of cost selling and purchase of bitcoins. It started as a stock market but gradually started to consist of bitcoins as well. You can store the currency in a wallet-like manner while managing the exchange of the currency. What you cannot do is transfer the currency using another wallet or withdraw. The main feature that makes it very popular despite it not being an actual or reliable bitcoin wallet is the free of cost option available for every user.
Deciding the best type of bitcoin wallet for cryptocurrency depends mainly on two things, how comfortable the use is with technology and complex systems. The second is what the investor is looking for in their bitcoin wallet. Newbies should opt for user-friendly and simplistic wallets while experienced users can go for hardware wallets.