Do you know The best bitcoin wallets:-

in #bitcoin7 years ago

With cryptocurrency technologies, trends and values changing on a near daily basis, it can often be hard to keep track of the latest best practices. One of the most important considerations to make as a bitcoin (or alt-coin) investor or owner is where to store them. For that, you need to know the best bitcoin wallets.

Do you use a wallet linked to an exchange? Do you use a software wallet that’s local to your machine? A hardware wallet specifically designed for keeping your coins safe? Or even put it on a piece of paper and lock it in a fire-proof safe? There are various approaches to the cryptocurrency wallet, and all of them have their benefits and drawbacks.

Online wallets:-
The best option for those just getting started with bitcoin, online wallets let you store your cryptocurrency in a place that’s easily accessible from anywhere in the world, on any device you choose. Often linked to an exchange, they make trading for fiat currencies (like the US dollar), or other cryptocurrencies, quick and easy, and are straightforward to set up and get started with. Many also feature smartphone apps to give you easier access to your bitcoin.
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Most offer decent security in terms of two-factor authentication, or better, and some will require forms of photo I.D. to sign up to confirm your identity. That does mean there’s less anonymity with these wallets than some of the other options on this list.

These wallets do make you more reliant on a third party for support. If the exchange is hacked and it loses all its funds, that money is likely gone. If the exchange is hit with heavy traffic or a DDOS attack, you may not be able to access your currencies. Since your bitcoin is stored remotely, hackers and social engineers may be able to steal your identity from you and access your account without your permission to make off with your coin collection.

For those reasons, these wallets are recommended for those just starting out with bitcoin trading, for those only trading small amounts, or only holding on to their coins for a short period of time.
Other options

Coinbase – Quick and easy access to Coinbase’s various markets, including its GDAX trading platform where you can buy, sell and trade bitcoin, Litecoin and Ether. It was recently embroiled in a bit of a scandal involving Bitcoin Cash, so its reputation has taken a hit as of late, but it’s one of the better used and respected exchange platforms otherwise.

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