Types of Bitcoin Wallets

Let's discuss the types of bitcoin wallets and why you might want to use one kind over another.

Hardware Wallets

bitcoin hardware walletThe Ledger Nano S is one example of a hardware wallet.

A hardware wallet is a physical electronic device, built for the sole purpose of securing bitcoins.

The core innovation is that the hardware wallet must be connected to your computer, phone, or tablet before bitcoins may be spent.

The three most popular and best Bitcoin hardware wallets are:

Hardware wallets are a good choice if you’re serious about security and convenient, reliable Bitcoin storage.

Bitcoin hardware wallets keep private keys separate from vulnerable, internet-connected devices.

Your all-important private keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware-infected computer.

As bitcoins are digital, cyber-criminals could, potentially, target your computer’s “software wallet” and steal them by accessing your private key.

Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your bitcoins.

Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a PIN code.

Don’t worry about your hardware wallet getting stolen, lost or damaged either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Easy to backup and secure
  • Less margin for error; setup is easy even for less technical users

Why are hardware wallets bad?

  • They're not free!

Hot Wallets

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet.

Private keys are secret codes. Because hot wallets generate your private keys on an internet connected device, these private keys can’t be considered 100% secure.

Why are hot wallets good?

  • Easiest way to store small amounts of bitcoin
  • Convenient; spending and receiving payments is easy and fast
  • Some hot wallets allow access to funds across multiple devices

Why are hot wallets bad?

  • Not safe for the secure storage of large amounts of bitcoins

Which Wallet is Best for You?

Why are you using Bitcoin?

Investing or saving? Then a hardware wallet will keep your coins safe.

Otherwise, a software wallet will send and receive bitcoins just fine. Best of all, software wallets are free.

Each wallet has pros and cons, and different wallets are built to solve different problems.

Here is a video that may help:

Some wallets may be geared towards security, while some wallets may be more focused on privacy.

Your specific needs should determine the wallet you use, as there is no “best bitcoin wallet”.

Below, we've listed wallets you can buy or download. We suggest using the wallets listed or doing research before buying or downloading any wallet.Each day, new Bitcoin scam wallets are added to the Google Play Store and Apple app store that are designed to steal peoples' bitcoins.

We only list wallets that have published and open-sourced their code.

hardware Wallet Released Price
Ledger Nano S 2016 79€
TREZOR 2013 $99
KeepKey 2015 $129

Bitcoin Wallet – Free Sign Up

Select a wallet to store your bitcoin so you can start transacting on the network

Bitcoin Exchanges – Free Sign Up

Note: Exchanges provide highly varying degrees of safety, security, privacy, and control over your funds and information. Perform your own due diligence and choose a wallet where you will keep your bitcoin before selecting an exchange.

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