Bitcoin may be a new concept to some people, but this popular cryptocurrency has been around for about ten years. It is one of the many currencies in the digital world that has become fairly known for tech-savvy people. They are highly volatile and wouldn’t just go away. A single Bitcoin is still worth thousands of dollars in the market today.
To shelter people looking to invest in this cryptocurrency, we have made a list of the best Bitcoin wallets. A Bitcoin wallet serves as storage, and you would be able to easily receive and transfer Bitcoins to and from anywhere on the globe. They also ensure that your precious coins aren’t accessible to cybercriminals or hackers. But first, for people who aren’t familiar with them, what are cryptocurrencies?
A Bitcoin is a type of digital asset known as a cryptocurrency. These types of currencies can be transferred, created, or stored in a digital storage device. Usually, Bitcoins can be traded for other forms of cryptocurrencies. Meanwhile, you can earn such cryptocurrencies through mining. If you want to safely protect your bitcoin keys, you need one of the best Bitcoin wallets available.
Bitcoins can be used just like any regular currency, but only through a digital exchange. You can easily trade them for services, products, or other currencies. The only difference between actual money and these cryptocurrencies is that they do not break, tear, or wear. Neither do they also need a digital administrator or a central bank? These can be transferred, received, or sent through blockchains, which are encrypted online channels.
Best Bitcoin Wallets
Here are some examples of where you can safely keep your bitcoin keys. These virtual wallets are not responsible for protecting your bitcoins, but rather the bitcoin keys only.
Coinbase is a licensed and fully-regulated Bitcoin exchange platform. Users are enabled to sell and buy digital currencies on the program itself. This Bitcoin wallet lets users plan their purchases systematically. It also has a vault protection feature that lets users store their digital coins offline. Notably, you can set aside 2% of your funds while the rest are held offline.
If Coinbase were to be breached, the insurance policy would pay. They will cover all their customer’s funds that were lost in the breaching. Coinbase is compatible with Linux, Mac, and Windows. You can also download a Coinbase app on your Android or iOS smartphones.
SoFi is a firm centred on personal finance. They provide mortgages, student loan refinancing, and personal loans. SoFi also offers banking services and investment. SoFi then expanded to trading and storing cryptocurrencies. With the help of the mobile app, users can store, purchase, and trade cryptocurrencies. You are also able to buy non-crypto stocks, fractional shares, or stock bits.
SoFi Invest uses various tools to protect and safeguard your cryptocurrencies, such as SSL encryption and two-factor authentication, to ensure that all types of transactions are anonymous. They also utilize a tight data policy that safeguards sensitive information of all their users.
Ledger Nano S
If you are looking for a hardware wallet, then the Ledger Nano S is what you are looking for to safely store your Bitcoin keys. Like any other hardware wallet in the market, the Ledger Nano S will surely keep your public and private keys safe. Hardware wallets keep data information by utilizing a hardware device normally in the form of a thumb drive.
Besides storing your private keys safely, the Ledger Nano S is also capable of managing your Bitcoin transactions by producing a digital key to renounce transactions. These digital keys are proof that you are the possessor of a certain private key without the need to reveal the key itself.
These are just some of the best Bitcoin wallets in the market today, and you must put into consideration that there is no perfect hardware, paper wallet, or software that would keep belongings 100% safe.