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How to setup and create a secure bitcoin Wallet.

Ever thought of were your coins are kept? Without a Bitcoin wallet, you can’t send or receive Bitcoin payments.





what is a bitcoin wallet? Btc wallet is digital secure vault where virtual currencies are stored . Your digital / virtual wallet reduce the risk of coin theft from hacker's or any individual. Creating a bit coin wallet would grant you access to public and private keys.

Note: DON'T GIVE OUT YOUR PRIVATE KEY TO ANYONE OR YOU RISK, YOUR COIN GETTING YOUR STOLEN.


TYPE OF WALLET

•online or web wallet
•hardware wallet
•paper wallet
•software wallet


ONLINE WALLET:

This wallets are accessible on Web via any internet connected devices.

Available online wallets to use.
Blockchain

Xapo

CoinBase

BitGo

Coin Space


BENEFITS OF ONLINE WALLET

• Your coins are safe and secured online
•Easy use interface
•Your Private keys are generated and then encrypted.


• HARDWARE WALLET: they are small devices which stores a user's private keys in a secure hardware device.

Available hardware wallets to use
Ledger Nano S

Ledger Nano

Trezor

BENEFITS OF HARDWARE WALLET

• They're mostly plug and play device.
• user-friendly and portable
• Your private keys are often stored in a protected area .



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PAPER WALLET

paper wallet are printed document that contains necessary files which are used to secure storage of Bitcoin private keys.


BENEFITS OF PAPER WALLET

• USE to store bitcoin offline
• Data and private key are printed in paper
• A paper can be used multiple times

One disadvantage of paper wallet is individuals are upgrading to online and hardware wallet .


SOFTWARE WALLET

Software wallet are system application that are downloaded and installed on your desktop. This wallet requires an operating system like Windows, OSX, and Linux, Android,IOS to work on.

Available software wallet to use

MultiBits

Electrum

Bitcoin Knots

CoPay

Armory

BENEFITS OF SOFTWARE WALLET

• you have full control over your money
•Full validation
•Complete transparency

Must read: 3 Best online secure bitcoin wallet- Recommend For You


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