Bitcoin - The New Money by Andrew Jefferson

Author:Andrew Jefferson
Language: eng
Format: azw3
Published: 2017-08-01T07:00:00+00:00

Get a Bitcoin wallet

You can choose from a variety of Bitcoin wallets, according to the platform

Desktop wallet: The first type of Bitcoin wallet was a desktop wallet. It was created as a reference implementation. Many users like the desktop wallet for the control, autonomy, and features they offer. They can run on Windows and Mac, but vulnerable because of these platforms are insecure and poorly configured.

Mobile wallet: The mobile wallet is the most common type of Bitcoin wallet. For new users, these wallets are a great choice because they run on smartphone operating systems like Apple iOS and Android.

Web wallet: Web wallets are accessed through a web browser and store the user’s wallet on a server operated by a third party. It is similar to webmail, and it relies entirely on the third-party server. The advantage of the web-based wallets is that, with any device you can access them from anywhere. The down side is, if you cannot operate it correctly, you place the web page authority in charge of your private keys. Using Coinbase, (1) users in the US and Europe can buy Bitcoin through its exchange services. The blockchain (2) is another popular web-based wallet.

Hardware wallet: Hardware wallets are operated through near-field communication (NFC) on a mobile device or via USB with a desktop web browser. Hardware wallets are considered very secure and ideal for storing big Bitcoin deposit.

Ledger USB wallet: The Ledger USB wallet is available for a reasonable price and uses smart card security.

Paper wallet: For long-term storage, paper wallets are ideal. There are known as paper wallets even though other materials such as wood or metal can be used. If you want to store Bitcoin for the long term, then use highly secure and low-tech means of Bitcoin storing.

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