I’m sure you’ve heard of Bitcoin.
I am also sure that some of you might own some Bitcoins !!
But where do you keep and store these currencies ??
Do you keep it on bitcoin trading platforms like Binance, BitMex Or store it in an online wallet such as Coinbase or Xapo ?
If this is your answer, you are putting your Bitcoin ownership at great risk.
These services keep private keys Private Keys On your behalf, and if these services are hacked and you lose the keys to their wallets, you will lose your money. Read about hacking the MtGox platform to learn more about the importance of Private Keys
The question now is, where should you store your bitcoins?
Here at Bitcoindz we do not write about things that we have not personally used.
Before using any trusted Bitcoin wallet, you should ensure that it has the following features: (Regardless of whether the wallet is a computer program “Software wallets” Or it is a flash device to store bitcoin “Hardware wallets”):
- Control of private keys: A wallet where you own and control Private Keys.
- Backup & security features: A wallet where you can store backup copies of your private keys, and are secured by vine codes.
- Developers: Portfolio has a developer community that is active in maintaining and updating the portfolio.
- Ease of use : The wallet has a user interface that is easy to understand and use and is fast and does not twitch.
- Operating systems : A wallet that works on all major operating systems such as Windows and Linux.
Now that you know what to look for in a bitcoin wallet, let’s get to know 5 of the best wallets for storing bitcoin.
Best Bitcoin Wallets: (Hardware, mobile & desktop)
Ledger Nano X is a wallet that is a Bitcoin flash storage device developed by a French start-up, this wallet is the latest and most practical that you can buy currently in 2020. This device can be linked to a computer and a phone and it comes with a built-in battery.
In terms of security, the wallet has two chips, which provides advanced protection for your private keys.
You can store more than 100+ other digital currencies in the Ledger Nano X wallet, and also use the wallet to access various bitcoin and cryptocurrency trading platforms.
Some of the digital currencies supported by the Ledger Nano X Wallet:
- Ripple (XRP)
- Binance chain (BNB)
- Cardona (ADA)
- EOS (EOS)
- Monero (XMR)
- ERC 20 Tokens
- BAT (Basic attention token)
This wallet is the best and strongest choice for you. The price for the wallet device is $ 119 and shipping is free anywhere in the world.
2. Ledger Nano S
This wallet is the initial version of the Ledger Nano X wallet, similar to a USB flash drive, and you can connect it to any USB port via the cable. The device does not contain a battery and only works when connected to a computer or phone.
The device is an OLED display and two side buttons to confirm transactions.
When you connect to a new Ledger Nano S, you need to set up your wallet pincode to secure it. Then, you jot down and store the 24-word recovery words in a safe place. These words are very important because you will need them to retrieve your Bitcoin if you forget the passcode or the wallet device is broken.
In this wallet, your private keys are stored offline, so you don’t have to worry about the safety of your digital coins.
The Nano S is the cheapest bitcoin and cryptocurrency storage device, the price of the device does not exceed $ 59.
The Ledger Nano S Wallet supports the following major digital currencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Dash (DASH)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Ripple (XRP)
- Stratis (STRAT)
- Komodo (KMD)
- Expanse (EXP)
- Stealthcoin (XST)
- Bitcoin Gold
You can be briefed Here For all digital currencies it supports.
AttentionYou should always use devices to store large amounts of Bitcoin or digital currencies.
Watch this video in English to learn how to set up your wallet:
Exodus Free Wallet is a computer-based software program that was developed in 2015.
It is the world’s first desktop wallet to support multiple digital currencies.
Just looking at Exodus.io , You will know that the company is putting a lot of effort into developing the wallet and creating a good user experience.
At the moment the wallet supports digital currencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Golem and Augur.
You do not need to register or verify your identity to use Exodus Wallet, but you must write down and store the recovery words. To get your money back if your computer crashes.
You must choose and set a password to access the wallet or send your digital currencies.
I love using this wallet because it shows you the sum of all your digital currencies’ value in one chart, and how much their value has increased or decreased. The user interface of the wallet is also easy to understand.
Exodus was the first computer wallet to offer the facility to trade your digital currencies inside the wallet.
And if you need help, you can get technical support from the developers via email.
The wallet works on all operating systems, Linux, Windows, and Mac.
Trezor is a Bitcoin wallet device offered by SatoshiLabs, based in the Czech Republic.
A wallet is a small device with an OLED screen that connects via the USB port of your PC or phone. The main purpose of the device is to offline store “private keys” and to sign transactions.
Adjusting the settings for this wallet differs from the Ledger Nano S.
When you first connect Trezor to your computer, it shows a nine-digit code on its screen. You need to enter the same pin code into the wallet program on the computer. This code is randomly generated every time you connect Trezor to your computer.
After entering the code, you will be asked to type your 24-word recovery words. Once again, you should write down your recovery passwords in a safe place, as this is the only method that will enable you to recover your Bitcoins.
Trezor now supports more than 600 tokens and digital currencies such as:
- BTC Bitcoin
- ETH / ETC Ethereum / Ethereum Classic
- NMC – Namecoin
- LTC Litecoin
- DOGE – Dogecoin
- ZEC – Zcash
- DASH – Dash
The wallet works on all Windows, Linux and Mac operating systems.
5. Trust Wallet
Trust Wallet is the leading digital wallet where you can store bitcoin and cryptocurrencies.
The wallet currently supports 13 cryptocurrencies, which means that it is the ideal choice for users and fans of multiple digital currencies.
The portfolio development team is very active and works at lightning speed. The wallet development roadmap contains cryptocurrencies such as Binance, Monero, Tether, Ripple and many others.
Trust Wallet has a smooth and easy to use user interface. It does not require you to enter your email, username, or passwords to start using the wallet.
The wallet contains the “seed backup” feature. To help you control and recover your digital currency assets if your computer is damaged or lost.
The wallet also enables you to save your private keys, and retrieve Bitcoins or other digital currencies from paper wallets.
Trust Wallet is the official wallet for the leading trading platform Binance
The wallet application is available on Android And the iOS.
The best way to store and store Bitcoin
|The name of the wallet||Wallet type||Punctuation|
|Ledger Nano X||Electronic device||10/10|
|Trezor||Electronic device||9.5 / 10|
|Trust Wallet||Mobile application||8.5 / 10|
It is very important not to leave your Bitcoin on the trading platforms, if you do not do this, you risk losing all of your coins.
Fortunately, we have several online and offline wallets to choose from.
An example to understand Bitcoin wallets:
You have your email address based on the service you use such as: firstname.lastname@example.org
This is your public or public address (everyone can see it, and you can share it with anyone to receive emails) and you have a program or service like Gmail or Hotmail With it, you can send and receive mail messages.
You have a password to log into the e-mail service to send mail to other people’s addresses, but the password is yours alone and a secret that no one should know.
The program or service understands all of your public address (email@example.com) And password (private address) For logging in and sending / receiving and storing emails.
Likewise, for sending, receiving and storing bitcoins, we need a wallet on the Bitcoin network, and the wallet is nothing but a place where we store our public address (to receive bitcoins) and a private address (to send / exchange bitcoins).
In short, the service or program in which both the Bitcoin address is located is called Bitcoin Address To receive coins and private key Private Keys To send and spend bitcoins Bitcoin wallet name. Simply put, a wallet is a digital file that stores your Bitcoins.
- Bitcoin address + private key = Bitcoin wallet
I hope this article helped you choose the right wallet for you. Share with us in the comments section the portfolio you will use.
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