Bitcoin Wallet – I think you heard many times about Bitcoin if you don’t know then don’t worry I am explaining here about Bitcoin. Bitcoin is a digital currency and you can use it worldwide anytime. So here in this post, we will talk about what is Bitcoin wallet, types of Bitcoin wallet.
What is Bitcoin Wallet – I think you heard about digital wallet like Paytm, Mobikwik, Freecharge, Phonepe but Bitcoin wallet is different from these. Without a Bitcoin wallet, you can’t send and receive payments. So before you get bitcoins, you’ll need to buy, download, or create a bitcoin wallet.
Types of Bitcoin Wallets
There are many times of Bitcoin wallet is available in the market, you can use Bitcoin wallet in different ways.
Online Bitcoin Wallets – Online wallet means you can easily access the Internet via web.
Bitcoin Hardware Wallets – Physical devices designed to secure bitcoins.
Software Wallets – Wallet applications downloaded to your phone, computer or tablet.
Paper Wallets – Bitcoin private keys printed from an offline computer.
Online Bitcoin Wallets (Web Wallets, Android Bitcoin Wallets)
1.) Green Address
Green address wallet is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. This wallet is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.
This is also a very popular Bitcoin Android wallet. It’s very easy to use for sending and receiving payments. Backing up your wallet is also simple since Mycelium makes it very clear with setup and backup instructions.
This is also a very useful Bitcoin wallet and available at Android. It’s is very easy to use.
This wallet is also available at Android and IOS user. It has a familiar login feature makes using the app a breeze for people new to bitcoin.
Hardware wallets are a smart card built with a private key. Hardware wallets securely sign transactions in the same offline environment. Now let’s have a look at the some hardware Bitcoin wallets at here.
TREZOR is a smart card and in which private security key generated offline. TREZOR also generates a 24-word seed upon setup. The TREZOR has its own built in the screen where the seed is displayed and copied down during backup. Since the TREZOR is an offline device it offers extra security since the seed isn’t displayed on an online computer.
6.) Ledger Nano
This is a smart card based wallet and also Private keys are generated and signed offline in the smart card’s secure environment. The Nano is setup using the Ledger Chrome Application.
7.) Ledger HW.1
The Ledger HW.1 is a more affordable version of the Ledger Nano.
The first Bitcoin Bearer Bond or called a Bitcoin Stick. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one.
9.) Ledger Unplugged
The Ledger Unplugged is a credit card-sized wireless hardware wallet. Private keys are generated offline. Transactions are signed on the device and sent to a mobile phone via NFC.