If you have invested in Bitcoin or any other cryptocurrency, be careful: having that virtual money in the exchange markets (exchanges) puts you in danger of potential cyber-attacks and theft, something that has already happened in some of those services. For this reason, one of the most interesting solutions to avoid this risk is to use a physical wallet or hardware wallet; these bitcoin wallets are physical devices that are used to store our private keys safely.
Where cryptocurrencies are kept, they are in turn dedicated devices that offer an additional layer of security and that go beyond the software wallet or even paper wallets, which is also worth talking about. If you want to invest your money in bitcoin, then visit https://immediate-edge.software/
Bitcoin wallets, what are they and how do they work? Having one of these wallets known as wallets or key rings is the first step to be able to use bitcoin and, by extension, any other cryptocurrency. Without a wallet, we will not be able to receive, store or spend cryptocurrencies. It allows users to manage crypto assets on the Blockchain, storing and protecting the private keys of their address. A wallet should be simple and have a good level of security.
A bitcoin wallet is like the interface that gives access to the bitcoin network, in a similar way to how a bank account gives access to the conventional wallet system, as with those bank accounts, in this sense, with bitcoin wallet certain methods are used security to protect it. In this specific case, private keys are used, which are nothing more than codes that allow you to operate with that conventional monetary purse.
Very attentive and careful with the ‘exchanges’ when we find ourselves operating with bitcoin and other cryptocurrencies, we usually do it through services such as Coinbase. These services allow us to create a user and, from there, create web wallets in which to buy, sell, and transfer cryptocurrencies. We can also compare web wallets with those of the bank, we must be clear in turn bring advantages that allow us to operate quickly and disadvantages we do not have total control over the system.
This is why this question arises: Why protect your investment? Because disasters clearly happen everything is a risk friend.
Today there are various types of wallets that offer different advantages and disadvantages. Choosing one or the other will depend on criteria and on our way of managing the cryptocurrencies that we have, among them we have Desktop wallets: Mobile wallets, Online/web wallets, Paper wallets.
We will also discuss the 5 key rings most popularized by users for their simple designs and practical options. The common denominator for all, in this case, would be a good option
- Samourai Wallet. One of the characteristics attributed to this software is that it is a non-custodial purse; it has a very simple and versatile design with a black background. They are specialists only with Bitcoin. Users may use the key encryption system to prevent third parties from accessing their balance.
- Dropbit this was developed by Coinninja, it is highlighted as one of the most friendly wallets for smartphones. The wallet is without a custodian; therefore the user has full autonomy. One of its friendly characteristics is that users through the system will be able to send BTC to third parties or families, using only their telephone numbers and in this way facilitating the sending of remittances.
- Blue Wallet is intended for those who have an interest in using the Bitcoin micropayment network, for which the private key of the wallet is managed by companies, this application empowers users over their funds, at the same time preventing users from customers lose their private keys and give them to others.
- Exodus, I consider it allows to save the private key on computers, is characterized by its simplicity and ease of being understood by Novice users. These differ from the others.
- Ledger Nano S, are cold storage wallets, notable for the low possibility of hacking, keeping the private key disconnected from the internet.
It is evident that the interest in the cryptocurrency segment is very high, and this type of device, which allows minimizing risks, is a recommended option if the investment begins to be important and we are not going to operate with these cryptocurrencies in the medium or long term.