Here Are the 4 Bitcoin Wallets Your Fellow Investors Are Using
Are you looking on to start buying Bitcoins or selling them for traditional currencies? As you set off to subscribe to the new digital currency, the first thing you need is a Bitcoin Wallet. Maybe you are aware or heard that Bitcoin is a decentralized currency with no banks or financial entities controlling it.
In simple language, it is a peer-to-peer transaction. With the absence of the financial entities, it means you are the custodian of your Bitcoins. As such, you need to be careful when choosing a Bitcoin wallet (The wallets are apps you install on your PC or mobile device or else you can operate a cloud-based one) for storing your coins.
Here are some of the best Bitcoin wallets that are easy to use and secure for your Bitcoin transactions:
a. Mycelium Bitcoin Wallet
If you are looking for the best Bitcoin wallet, Mycelium should be your first consideration. This wallet is mobile based meaning you can install it on your smartphone. Also, it integrates with hardware wallets that enable you to enhance the security of your private keys.
However, there are complains about its possibility of being hacked. Hence, it important to operate it with a hardware wallet that is a good way to protecting your private keys.
b. Bitcoin checker
If mycelium does not meet your preferences, then Bitcoin checker is the next option. It is also a mobile-based app. importantly to note, the app is designed for conducting all cryptocurrency transaction. As such, you can buy and sell altcoins without a need to install other wallets. Also, you can monitor how Bitcoin prices, as well as other coins, are performing in over 80 cryptocurrency exchanges across the globe.
Also, if you would like updates on the current prices, you can set the alarm to alert you to any changes. Note: Bitcoin checker is not a wallet as such, but it is an essential application in the cryptocurrency and Bitcoin transactions.
Do you have a weakness in misplacing or forgetting passwords? As you know, Bitcoin transactions involve a private key which acts as the signature to authorize them. If you forget the private keys, you cannot transact with your Bitcoins, and hence you lose them.
Fortunately, Copay is the solution to these challenges. As a Bitcoin wallet Copay gives room for usage of several private keys to authorize transactions. Through the multi-signature technology, you can have several private keys and users in this process.
Here, one of the users can authorize a transaction. Alternatively, you can set it in a way that needs all private keys for a transaction to be authorized.
d. Bitcoin wallet
If you are not ready for complicate wallets for storing and transacting with your Bitcoins, then Bitcoin Wallet is the best app for you. First, it is easy to install this wallet. You do not need any registration on the web or cloud. Also, you can view Bitcoin conversion in various currencies. As such, you can know how much your Bitcoins are worth.
Furthermore, you can use Bluetooth to pay for a product with Bitcoins even when you are offline. This wallet also enhances your coin security as you have to scan a QR-code to pay with Bitcoins. Also, you receive notifications when someone sends you some coins. Hence, the Bitcoin Wallet is one of the easiest wallets to use if you are new in the Bitcoin field.
All in all, if you are looking on to invest on Bitcoins, having a Bitcoin wallet is the first step. Your wallet must be secure and with the ability to enhance your Bitcoin transactions. Always remember that you are the sole custodian of your Bitcoins. So, you need to be conscious of your wallet selection process.