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What Makes a Secure Bitcoin Wallet

Where do you keep your Bitcoins? There are plenty of services you can choose to keep your Bitcoins in. But which one can guarantee your Bitcoins security? Bitcoin Wallet allows you to access the private key. In fact, these services are places that generate private keys for you and provide them for your use. Such services cannot block your access to your account even if they so wish. So, as the first step, consider a secure Bitcoin wallet.

 

Best Bitcoin Wallet

Here is information on a number of wallets. In addition, anyone who wants to use a software or hardware wallet should consider the following when choosing the right wallet:

  • Private Key Monitoring: A wallet that you can monitor and maintain on your private keys.
  • Backup and security capabilities: Ability to back up keys and PINs.
  • Developer community: The wallet provider must have an active developer community for maintenance and protection.
  • Ease of use: The wallet must have a smart interface for quick and easy use.
  • Compatibility: Compatible with different platforms.


Now that you know what to look for in choosing a wallet. Let’s look at the top three wallets together.

 

  1. Ledger Nano S

The Ledger Nano S Wallet is a hardware wallet from a French startup. This wallet is like a flash memory that can be connected to any USB port. This hardware wallet has no battery and only works when connected to a computer or mobile.
The ledger does not have an anti-counterfeit label because its cryptographic process checks the accuracy and integrity of the device when it is turned on.
Ledger also has an OLED display and two side keys to confirm transactions. When you configure your NanoSystem as a new device, you need to set up your PIN to secure your wallet. Then write down your 24-word recovery phrase. This recovery term can be used at any time to recover your bitcoin.
With this wallet, your private keys are kept offline, so you don’t have to worry about your money’s security. The Nano S is priced at about $ 120 and is also the cheapest hardware wallet available in multiple currencies.

bitcoin

The Nano Ledger can support the following major currencies:

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCC)
  3.  Ethereum (ETH)
  4.  Classical Ethereum (ETC)
  5.  Litecoin (LTC)
  6.  DASH
  7.  Dogecoin (DOGE)
  8.   Zcash (ZEC)
  9. Ripple (XRP)
  10. Stratis  (STRAT)

 

Also, it is a wallet that can hold and manage over 700 ERC20 currencies and tokens all in one place.

Tip: When you have a lot of bitcoin or Altcoins, you should always use a hardware wallet.

 

2. (Trezor)Wallet

This wallet was provided by Satoshi Labs, a Czech-based company. Trezor is the world’s first hardware wallet.

Trezor for bitcoin

This wallet is a small device with an OLED display that connects to your phone or PC via a USB port. The main purpose is to keep your private keys offline and sign your transactions.

Its initial configuration is slightly different from the Nano S Ledger. In Trezor, when you first connect it to your PC, a six-digit PIN code on your screen is shown. You need to enter this PIN in the corresponding screen on your computer. This code is randomly generated each time you try to connect the computer and ensures that an intercepted or manipulated computer cannot access your PIN.

After you enter the PIN, you will be asked to enter your 24-digit recovery number. You need to keep your recovery key safe because that’s the only way you’ll be able to get your bitcoins back.

 

The use of Trezor wallet is quite similar to the Nano S.

Trezor currently supports a large number of cryptographic currencies:

BTC – Bitcoin

 

ETH / ETC – Ethereum / Ethereum Classic

 

NMC – Namecoin

 

LTC – Litecoin

 

DOGE – Dogecoin

 

ZEC – Zcash

 

DASH – Dash

 

Update: Trezor wallet currently supports more than 600 cryptographic and token currencies.

Trezor can be used by applications such as Trezor Wallet, Mycelium, and Multi-Bit HD.

This wallet is currently available for Windows 7 and higher, OS X 10.8 and above, and Linux. You can use it on your Android devices too. Available in three different colors: white, gray and black for $ 110.

 

3. (Exodus)

Exodus is a free desktop wallet made by JP Richardson and Daniel Castagnoli in mid-2015. Exodus is the first desktop wallet to support multiple cryptographic currencies.

Looking at this wallet you can easily see that the company has done its best to have a good user experience.

You can safely store your bitcoin in the Exodus wallet, as it is not connected to any hosting server. This wallet currently supports many cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Dodge coin, Dash, Golem, and Augur

You do not need to register or authenticate to use Exodus. But of course, you need to back up your keys.

You must set up a password to access and transfer your funds.

In addition to making a backup of your recovery keys, have it emailed to you to receive a link to the recovery feature. You can always use this link with your password to recover your Exodus wallet.

However, when using Exodus, what you need to remember is that you can back up your keys when you have some cash in your wallet.

One of the benefits of this wallet is the use of a circular chart at the center of the page that lets you check all your inventory at a glance.

Exodus is the first desktop wallet to use ShapeShift to exchange cryptocurrencies. If you need help you can communicate with wallet makers via your personal email. This wallet is available for Macs, Linux and Windows.

 

Bitcoin offline wallet

All wallets are categorized as “Hot” and “Cold”. Cold Wallet holds digital currencies (private keys) offline. If you invest a lot of money in digital currencies, cold storage is the best option for you.

 

Cold Wallets are the best place to keep your funds safe. This security is provided by the space where the private key is physically stored. These wallets are the best option for long-term and heavy investments. Hardware wallets and paper wallets are categorized as cold (offline) wallets.

In contrast to cold wallets, there are hot varieties. This is due to the need for an Internet connection to access them. Wallets for mobile, web and desktop are hot wallets. The hot wallet doesn’t necessarily mean that the private keys are kept on the internet, but that it means there is a possibility that the private keys connected to the online space.

There are many mobile and desktop wallets that hold assets on their own devices (mobile and computer) but are categorized as hot wallets. Mobile and desktop wallets can also be cold if they have no internet connection. Hot wallets are a good option for everyday use, trading, and small or medium investments. Note that cold wallets are generally more secure than hot wallets, but it doesn’t mean that hot wallets are not safe.

 

Bitcoin paper wallet

The paper wallet of digital currency is the same private key printed on the paper. The holder of this paper will have access to both the private digital currency key and its address. You can use sites like Bitaddress.org to create a paper wallet. When paper wallets are made, you can print them on paper with the printer.

 

Bottom Line

The important thing is not to keep your bitcoin in a single currency, as you will risk losing all your currency. Fortunately, there are plenty of offline and online wallets available. Always remember, the best Bitcoin Wallet sure is the most secure Bitcoin Wallet.

 

With ExPay 24 you can convert your bitcoins to PayPal. In addition to bitcoin, you can have the same conversion for other currencies such as Ethereum, Webmoney, and Tether. You can also convert different types of currencies.

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