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What Are Bitcoin Wallets?

A Bitcoin wallet is a collection of private addresses that allow you to send and receive Bitcoins. It allows you to choose where you want to send Bitcoins and where to receive them.To learn about how to set up a wallet check out our getting started guide. Bitcoin wallets come in three different formats.

The most secure wallet is an offline wallet where you are responsible for securely storing it on a computer of drive not connected to a network.

Online wallets have inherent security concerns and should not be used for long term storage or large Bitcoin amounts.

Paper wallets are one of the most secure ways to store Bitcoins. It involves printing your Bitcoin address and private keys onto physical paper. This method of storage is unhackable and the safest way to store as long as you don’t lose the piece of paper.

Popular Bitcoin Wallets

Bitcoin-Qt

Bitcoin QT is the original Bitcoin wallet and features high levels of security, privacy and stability. This wallet takes up a lot of space and memory because it syncs you with the Blockchain. We recommend this wallet for new and advanced users that are looking for a very reliable wallet.

MultiBit

Multibit is a wallet that uses less memory and space and quickly synchronizes to the network. It can be used minutes after installing and provides a very user-friendly interface that is easy to navigate. Multibit also support many languages.

Armory

Armory is an addition to the Bitcoin-Qt wallet that expands its features and offers more security options. It has many extra backups and encryption features that will make your wallet as secure as possible. It also allows cold-storage on offline computers that is one of the safest ways to store Bitcoins.

Electrum

Electrum is a nice wallet that is quick and simple to use. It uses remote servers that handle most of the Bitcoin network syncing. Another nice feature is the ability to recover your wallet using a secret phrase in case of an unforeseen accident.

Blockchain

The blockchain wallet is a top quality wallet that has just as many features as the other wallets listed. You can also pay with Bitcoins securely using your phone, laptop or desktop computer.

Bitcoin Paper Wallet

The Bitcoin paper wallet allows you to be your own bank and store your Bitcoins offline in physical form. This is the most secure way to store Bitcoins.

Comments

  • Torsten Ruger says on

    Good topic, one that should be talked about more.

    Bitcoin is not money, for the simple fact that it is _not_ a store of value (imho of course).

    Bitcoin is more akin to stock. All the things you or many people list that should make Bitcoin money, are equally true for stock, or any traded commodity in fact. This does not make it money.

    A _store_ of value means it has the same value over a long term. At least or more so that fiat currencies.
    Now the fact that crypto is rising is just that everyone is doing the same maths. If only a small fraction of currency value goes crypto, the value that that crypto will have is immense, so it “must” keep rising.

    But while all (especially early) investors are patting themselves on the back for 1000x returns in just some years, anybody buying should really be aware of what they are doing. What they are doing is validating all that speculation, making billionaires.

    There should be more discussion about this, a socially acceptable way of introducing a crypto currency that does not involve making billionaires.

  • charles says on

    Thanks for info. I’m getting started with bitcoin, created my first wallet today

  • Stasio says on

    I just would like to give you a big thumbs up for the great information you have here on this post. I will be coming back to your website for more soon.

  • amy says on

    personally I use my bitcoin wallet with blockchain,.info and there weren’t any problems until now so I think they’re reliable

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