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 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 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 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 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.
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.