Bitcoin Wallets

What is a Bitcoin Wallet?
A Bitcoin wallet is simply a vault where Bitcoins can be stored. The vault could either be in form of a software or hardware.

Technically, it should be understood that Bitcoins are not actually stored in the vault, but there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Basically, opening a bitcoin wallet creates an address for you, with its own private key, so that you can use the key to complete bitcoin transactions.

There are many different wallets across various platforms. While they all share certain basic functionality, features vary from one wallet to the other so it’s worth learning more about How to Choose a Bitcoin Wallet before downloading the wallet of your choice. Wallets are necessary to carry and store bitcoins. Of course some exchanges may serve simultaneously as wallets but is always best to have a private secure wallet to store your coins after purchasing from an exchange.

With a Bitcoin wallet, you can receive, store, and spend Bitcoins. Bitcoin wallets aren’t like conventional wallets: they can be apps, websites, devices, or software programs. These wallets contain private keys that give you access to your coins. Many bitcoin exchanges offer Bitcoin wallets when you sign up, for example. Other people hold physical Bitcoin wallets – or even physical Bitcoins – as a way to store their cryptocurrency.

There are many different wallets across various platforms. While they all share certain basic functionality, features vary from one wallet to the other so it’s worth learning more about How to Choose a Bitcoin Wallet before downloading the wallet of your choice. Wallets are necessary to carry and store bitcoins. Of course some exchanges may serve simultaneously as wallets but is always best to have a private secure wallet to store your coins after purchasing from an exchange.

Much like TREZOR, Ledger is a cold wallet designed for users who want increased security. The wallet is actually a physical device that connects to your computer and acts as another source of protection. Meaning, you can’t send Bitcoins from your wallet without owning the physical device.
Hard Wallets – This is how you would store bitcoin / crypto long term and most securely. There are a few devices you can buy to store crypto offline. So when you start gathering a lot of crypto (anything over $2500 USD) you should consider purchasing one of these.

Ledger Nano S – It is an Ethereum, Bitcoin, and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments.
Trezor – It is the original and most secure hardware wallet. It is more than just a bitcoin wallet. TREZOR is also a security device for passwords, accounts and emails.
KeepKey – Secure Bitcoin Hardware Wallet. If anything ever happens where you can’t access your KeepKey, all you will need is your Secret Key to attain access to your currency!
Exodus – It is a great free platform to secure, exchange and manage your coins. It is the best place to store if you don’t have a Nano or Trezor yet. You will download this right to desktop within 2 minutes.
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