How do you store bitcoin? Simple… By using a bitcoin wallet thats how. Here are our tips for which BTC wallet is best for your needs.
If you are a beginner on bitcoins and starting out to store your minute BTC deposits, it would be best to read our post here first. Having an online wallet is the way to go. It’s easily accessible anywhere in the world plus you can opt to have security functions such as 2 Factor Authentication. We recommend these three wallet providers for online wallets:
Blockchain.info is a user-friendly hybrid wallet. It stores an encrypted version of your freewallet online but decryption happens in your browser. For security reasons, you should always use the browser extension and email backups (and keep that email secure).
At Blockchain, they build innovative software that makes using Bitcoin safe, easy, and secure for all consumers and businesses anywhere in the world. They have raised over 30 million in capital from top tier investors including Lightspeed Venture Partners, Wicklow Capital, and Sir Richard Branson.
Blockchain is currently the provider of the world’s most popular Bitcoin wallet, the most widely used Bitcoin APIs, the most popular block explorer and search engine, and has what is widely recognized as the strongest, most trusted brand in Bitcoin. Experiencing a rapid expansion during the course of two years, Blockchain exploded from 100,000 users to over 3,500,000 users. Blockchain is one of the easiest and fastest wallets to use when selling stuff for bitcoins.
BitGo is a high-security multi-sig wallet, which protects your bitcoin from theft and loss. You maintain full custody; BitGo cannot spend or freeze funds. BitGo wallets are easy to use and offer advanced security features such as spending limits and multi-user access.
Trusted by leading BTC exchanges such as kraken.io, bitstamp and bitfinex. Some of the other exchanges like Paxful and Gemini are also rooting for Bitgo due to it’s security measures and ease of use.
Bitgo is currently offering Bitgo Enterprise, the first multi-signature and multi-user solution for financial institutions and corporations where they can manage their bitcoin properties in an enterprise level of security.
Coinkite is a powerful and easy to use web wallet. It has a lot of security features including memorable image which resist phishing and two factor authentication. It offers multisig and shared wallets with options for offline generation of keys.
Coinkite also offers a hardware device or a point-of-sale payment terminal, intended for a retail store setting. It includes a receipt printer and a QR scanner that can be used for bitcoin transactions without using a computer.
It also offers all its clients a Debit card which can be used at the payment terminals. It can also be used anywhere since it has a bitcoin address at the back of the card which links to the user’s Coinkite account.
Usually, online wallets are good for fast paced transactions if you want instant sending to your favorite online betting and online gambling sites. If you want a more secure Bitcoin wallet, you can opt for desktop or offline wallets. Unlike online wallets, desktop wallets are stored in the user’s computer, and not on a faraway network server. They are feature-rich Bitcoin clients and have the highest level of security. Desktop wallets are the most secure way of storing private keys.
Once installed in a computer, desktop wallets need to be updated by downloading the blockchain. This may take time in dowloading gigabytes of blockchain and it requires a powerful PC hardware. We recommend these three wallet providers for desktop wallets: