Connect with us
()
()
()
()
()
()
()
()
()
()
()
()

Guides

What Are Bitcoin Wallets?

Published

on

A bitcoin wallet is an application where you store and manage your bitcoin and there are various types of bitcoin wallets differing in safety, ease of use, user-friendliness, security etc.  There are basically two types of wallet; online wallet and offline wallet.

wallet bitcoin

Wallet for bitcoin

With the online wallet, the private key is stored online on a third-party website. These wallets are unsafe as there are risks of hacking although it is convenient for day-to-day use. Experts recommend storing a small amount of money for daily transactions on the online wallets

The offline wallets, on the other hand, have the private key stored on an offline device like a hard drive and it is a more secure alternative for storing large amounts of cryptocurrencies. Experts recommend storing larger amounts on the offline wallets.

Ashton Felix is currently a contributing writer for multiple crypto news sites. He got his big break when he mined his first bitcoin back in 2012. He enjoys learning about new technology and travels throughout Asia in his spare time. Ashton immediately fell in love with the culture and people of China. He is currently based out of Shenzhen and is fluent in Mandarin.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Click to Hide Advanced Floating Content

Follow us on Twitter or join our Telegram

gtag('js', new Date()); gtag('config', 'UA-121809855-1');