Bitcoin Wallets – All Aspects Explained


Bitcoin is a popular digital currency and it is not like physical or traditional currencies used around the world. It is a completely different type of money because it does not exist in any physical shape or form in the world. It is usually kept technical and used in the internet world. If you want to use bitcoin, you must have a bitcoin wallet.

What is a bitcoin wallet?

Basically, a wallet for Bitcoin is a software program where bitcoins are securely stored. The wallet is similar to a virtual bank account and allows the person to send or receive bitcoins and save the bitcoins. Those people who use bitcoin and have a balance, they will receive a private key or secret number for each bitcoin address stored in the bitcoin wallet. Without the private key a bitcoin transaction cannot take place. You can use your Bitcoin wallet from anywhere in the world.

The main reason for getting a bitcoin storage wallet is to use bitcoin easily and safely. It is a digital wallet that can easily be used on your smart phone and computer devices. If you are worried about hacking, then this is the best option because it provides full security and safety of your bitcoin.

Different forms of bitcoin wallets

There are many different forms of a bitcoin wallet and each of them is used according to their requirements.

The four main types of a bitcoin wallet are mentioned below:

• Mobile

Those who use bitcoins on a daily basis, such as frequent trading, buying goods and many other daily activities, for them the Mobile BTC wallet is a good option. It is an app that runs on your smart phone. It will store your private keys and allow you to pay for things or use crypto-coin from your phone easily from anywhere in the world.

• Web

Web wallets allow you to use bitcoins from anywhere easily and on any mobile or web browser. Remember, you should choose your web wallet carefully because it stores your private key online and it can be dangerous at times.

• Desktop

Desktop wallets are downloaded and installed on your computer or desktop and offer you full control of the wallet. You can store a private key and create a crypto coin account address for sending and receiving bitcoins.

• Hardware

Hardware wallets are offline devices and are the most secure bitcoin wallets. They store your private keys offline so they can’t be hacked. This means that you can use it whenever you want on your computer.

Your coins are completely safe because your bitcoin wallet can only be controlled by you. No one else, unless you share the password can get the details about your bitcoin. So, use bitcoins without worrying about any theft.