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How To Store Your Bitcoins

How To Store Your Bitcoins

It is important to learn as much as you can about Bitcoin especially when it comes to making sure that you are keeping it in a safe place. One of the popular topics as far as bitcoin is concerned is storage. For those who are quite unfamiliar on ways and means on how to make sure that their bitcoin currencies are safe, here are some tips:

Mobile Bitcoin wallets

One of the most obvious advantages when you have a mobile wallet is that you can bring it along with you. Say, you decide to go out on the streets and you are in a position where you need to buy something and you want to use your bitcoins, you can run an app on your smartphone that allows it to store your bitcoins. With this, you can simply use your mobile device to pay for the things that you want to buy. In fact, there are also instances when there is an NFC or a near-field communication that allows you to simply tap the phone on a reader to pay and you won’t need to input any kind of info. Among the bitcoin wallets that you can use when you are interested in a bitcoin wallet include Xapo, Bitcoin wallet, Blockchain and Myceleum. There are also mobile wallets that have additional features which are quite useful especially when you are the kind of person who is always on the go.

Desktop Bitcoin Wallets

Bitcoin-Qt, the original bitcoin client is actually more than what you expected it to be as it also serves as a wallet. This software is capable not only of adding bitcoin transactions to the network but also allows you to store your bitcoin wallet’s private key as well as receiving and sending the currency. Aside from the original client, there are also different kinds of software that can be utilized as a desktop wallet, and all of them come with different features. A good software that runs in Linux, Mac OSX and Windows is MultiBit. Some of these wallets are also created to address certain concerns such as a need for a wallet that provides greater security to its clients. However, there are disadvantages in this wallet as you cannot carry it around.

Hardware bitcoin wallets

Since bitcoins exist as a cryptocurrency, they do not have any representation in the real world such as bills or coins. However, there are ways through which you can store them in a hardware wallet although these devices which are dedicated to bitcoins are very limited in number. One example is the trezor hardware wallet which is best for those who do not want to use a third party wallet but are maintaining a huge amount of bitcoins.

Online bitcoin wallet

With digital technology come so many cool things including a wallet that can be accessed through the web. One of the best things about this is that you can access your bitcoin wallet wherever you are as long as you are hooked to the internet. But you need to make sure that the wallet is reliable as there are many ways to get information in the web and this could endanger your bitcoins.

Although many people rely on codes to do transactions, no one can deny that there are also many ways to make sure that the bitcoins are in a secured place. Another type of wallets that can also be used include paper bitcoin wallets. Nevertheless, you need to study each option and determine which of these wallets will work best for you.

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  • chris says on

    I think a bitcoin hardware wallet is the most secure way to store bitcoins

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