The rise of technology brought forth a lot of innovations that made daily activities easier. This is the reason why Bitcoin (BTC) has grown massively popular across the world. With its value and usefulness, it is no longer surprising to know that many people have grown fond of it.
Among the reasons that make BTC popular is its decentralized nature which makes it safe to use. Given its popularity, several business institutions have incorporated the use of BTC among their payment rosters.
Before discussing crypto wallets, what is Bitcoin and how valuable is each coin? These are the main questions of investors before they invest their assets in the market. However, they must always ensure that they can keep their assets safe from any potential threat. One of the best ways to protect BTCs is by using Bitcoin wallets.
What are Bitcoin wallets?
Quite similar to fiat, digital assets are also stored in wallets. However, what makes these different from the typical wallets is that most Bitcoin wallets are digital. Specifically, there are two major types of Bitcoin and crypto wallets — hot and cold.
Hot wallets are connected to the internet which allows users to make smooth transactions with the convenience they provide. These wallets also provide users with accessibility since they allow users to check their assets anytime they wish to. Hot wallets are the most common option for users nowadays.
Cold wallets, on the other hand, are those that are also called hardware wallets. This is a safer option for users since they are not connected to the internet. The only disadvantage that comes from using it is the fact that it’s quite risky to have them misplaced.
Aside from safety, other advantages that people love about Bitcoin wallets are the confidentiality and simplicity it provides, even for new BTC users.
Examples of Bitcoin wallets
There are several Bitcoin wallets that people can choose from and each of them may have different features that make them stand out from the rest. For those who are looking for some ideal wallets to use, here are some popular examples to consider:
Coinbase Wallet
Coinbase Wallet is different from Coinbase, the popular exchange platform though is backed by it. This wallet is perfect for those who are just getting started with storing their BTCs. One of the factors people love most about them is its simple interface that makes it easy to navigate.
Aside from BTCs, Coinbase also supports more than 500 coins and assets, including non-fungible tokens (NFTs). This makes it one of the largest hot wallets that is available for crypto users.
Coinbase is also known for being non-custodial, meaning that all its private keys are stored in the user’s device and not on Coinbase’s servers. Therefore, using this won’t make people worry about the risk of having their accounts locked up.
Exodus
This is highly recommendable for people who prefer using desktops whenever they transact. It also has an app that can be easily downloaded for iOS and Android devices. Some of the characteristics this wallet has are that it is fast and easy to use. By using Exodus wallet, users can buy BTCs with Apple Pay.
This wallet can support over 145 crypto assets, including altcoins such as Ether, Litecoin, Ripple, Bitcoin Cash, and several others.
Electrum Bitcoin Wallet
Founded in 2011, Electrum is recognized as one of the oldest and most known crypto wallets. Unlike the aforementioned wallets, this is exclusively made to support BTC. It is also well-characterized by heightened security features and a great level of customizability that makes them more convenient for what its users want to experience.
Among those is that it allows users to customize the fees they want to pay. This means that the larger fees they are willing to give, the faster their transactions will be executed.
What is Bitcoin
and why do you need to protect your crypto assets? By understanding its importance, people will feel more guaranteed about the safety of their BTCs by knowing that they aren’t at risk of being stolen!