Emerging in 2009 after the financial crisis, bitcoin provides one of the best solutions to the world to observe it as an alternative against government-backed currencies. Bitcoin by far is the best performing asset in the world which means lots of people can see this as a hedge in their investment portfolio.
Cryptocurrencies, like bitcoin, offer faster, cheaper transactions all over the world with a need of middleman to confirm the transactions, meantime, for the first time in history solving the economical double-spending problem in digital transactions.
As for every asset, to put money into Bitcoin can be very risky considered that Bitcoin currently is highly volatile because of its market cap. On the other way, it can greatly reward investors because of their unique characters and fundamental value it carries. So, if you are ready to take risks and invest what you are ready to lose, then bitcoin investment can be seen as one of the life-changing investments of our era.
Following up on this, one of the most frequently asked questions is “what is a bitcoin wallet”.
Basically, the bitcoin wallet is a software which is used to store bitcoins. It enables users to send bitcoin from one address to another address. Bitcoin wallet has many forms such as a hardware wallet, a desktop wallet, a mobile wallet, and a web wallet.
Finally, here are the most used Bitcoin wallets:
Coinbase provides one of the easiest solutions to buy bitcoins. It is designed in a way that even a person who does not understand anything about this industry can follow instructions on Coinbase and obtain a bitcoin address with ease.
Coinbase not only lets you buy Bitcoin, but also sell and store.
Why Choose Coinbase?
According to coinbase, all funds are insured which means that there would be a hack to hot wallets the funds can be reimbursed. (For more information about insurance you can find here: https://www.coinbase.com/legal/insurance).
98% of all cryptocurrencies are stored in offline wallets which means they are hack-proof to online attacks. Coinbase regularly upgrades their security measurements in order to keep all cryptocurrencies safe and secure. Cash balances that are stored in Coinbase, are located in custodial banks Coinbase cooperates with according to the USA money transmitter laws.
FIAT to CRYPTO transactions
Coinbase provides hassle-free transactions to deposit and withdraw cryptocurrencies. You just need to attach a bank card and after your card is verified, you are ready to buy your first bitcoin. They also added PayPal as a withdrawal method so you can withdraw your funds to your PayPal account effortlessly.
Coinbase currently supports all the major cryptocurrencies such as Bitcoin, XRP, litecoin, Ethereum, and Bitcoin Cash.
You can open a Coinbase account following on this link which is based on invitation and you will receive an extra 10 USD. (Terms and conditions you can find once you follow on the link). Here is the link: https://www.coinbase.com/join/jomard_z
Best Bitcoin Wallets
Now, hardware wallets are the most secure wallets in the world. If you are planning to buy bitcoin and hold for a long period of time then storing bitcoin funds in hardware wallets can be considered as a priority in terms of safety and security.
Ledger is one of the leading companies in the world in terms of providing hardware wallet solutions to its customers. Hardware wallets can be referred to as cold wallets as well. This means they fund are stored offline, in a hardware wallet and no one can access the funds provided that the private keys are stored securely and out of reach of 3rd party.
What’s more, Ledger is the only hardware wallet that is certified for its security by ANSSI, the French cybersecurity agency.
Secure Element Chip
According to Ledger “The Secure Element (SE) is a tamper-resistant chip designed to withstand sophisticated attacks. It’s capable of securely hosting applications and their confidential and cryptographic data (like the private keys of your crypto assets). You can meet SEs in credit cards, SIM cards or passports.”
Ledger has its own operating system which makes them unique and separates from its competitors. The operating system protects the cold wallet against malicious attacks.
The system also enables installations of applications designed by 3rd parties protected by Ledger technology.
Customer support is great, and they are servicing to all their clients through their web page contact form as well as in social media.
Blockchain company is one of the leading hot wallet providers in the world. They are also one of the oldest companies in the crypto world since the launch of Bitcoin.
Currently, there are around 42 million wallets they are powering so we can say that it’s one of the best bitcoin wallets ever existing. You can buy, store, sell and transact your cryptocurrencies easily and with lower fees. They also provide an opportunity to exchange the crypto asses with another crypto asset instantly. The wallet supports 22 currencies and 25 languages.
Founded in 2015, Exodus provides one of the best bitcoin wallets in the world. They are very active in releasing new updates and supports more than 100 cryptocurrencies in their desktop wallets.
What separates Exodus from their competitors is that they provide support 24/7. Exodus customers can be in touch with the support team via Facebook, Twitter, official web page and slack live chat. They have a very user-friendly interface designed for people who have no understanding of wallets or exchanges.
When it comes to mobile wallets, Jaxx is the one that enables its users to download the app on their mobile devices and instantly get access to cryptocurrencies. It stands out with its speed and great features like a built-in exchange, news portal, portfolio, and markets. There is no login/KYC. They are a non-custodial wallet which means the user the owner of the keys.
To sum up, Bitcoin wallet lookups are increasing over the time of bitcoin history, suggesting that the demand for cryptocurrencies, especially the demand for bitcoin is sparking. This means more and more people are becoming interested in how to buy and store bitcoin securely.
It is very important to keep your wallets safe as the wallet is the main target for hackers to steal the funds. How to store bitcoins in your wallet safely? Then please make sure you use the hardware wallet as a most secure option.
Please note in this case you are responsible to store your private keys safely and in case of a loss of your private keys you would be unable to recover your funds they would be gone forever.
If you use another form of wallet, use a very sophisticated password and never use a password you use for other applications.