Where is bitcoin wallet

Where and how to create a bitcoin wallet

If you have already asked yourself such a question «how to create a bitcoin purse», you have already heard about crypto-currencies and Bitcoin. Here we will not go into the technical details of the work of blockchain technology, but just look at the types of bitcoin wallets and how to install them on a computer or mobile phone. First of all, when choosing a bitcoin wallet, you need to select a reliable source for downloading the installer. One of these sites is Bitcoin.org, which presents a lot of different bitcoins of wallets, which you can install without fear for the reliability of storing your crypto currency.

Before creating a bitcoin purse, you need to determine the device on which you will store your BTC. The following options are available for you to choose:

1. On paper (storage of a private key)
2. Hardware Wallets
3. Computer or laptop
4. Mobile phone
5. Web Wallets

This list was compiled with a decrease in the reliability of the storage of the crypto currency. The most reliable bitcoin wallets are considered specialized hardware devices with encryption function access to which is maximally protected from outsiders, as well as storing private keys on paper. Next comes a personal computer, which itself is susceptible to hacking, especially from users who are not involved in additional security measures. When you perform the necessary measures from hacking your computer, the reliability of creating a bitcoin of a purse on a personal computer will be no worse than a hardware wallets.

Mobile wallets can also be considered as a platform for creating your wallet, however, due to more frequent hacking of phones and less reliable software for wallets, we do not recommend that you keep on your mobile wallet a significant amount in the crypto currency.

Web wallets are probably the most convenient way to store cryptlayut, but the most not secure, because. to crack your wallet a hacker does not need access to your devices directly and often there are such cases that the Internet bitcoin wallets are hacked not because of losing the password, but they hack at once the entire server where the web purse is located, thus gaining access to all the cryptocurrency , which is stored there.

Let’s consider all these options in more detail.

On paper (storage of a private key)

Wallet bitcoin is a program that stores an encrypted private key, through which you can access the bitcoins stored there anywhere in the world. With the help of a special command, bitcoin wallet can give you your private key, which you can print on paper and store in an inaccessible place, for example, in a safe or in a bank cell. Knowing this key you do not need access to a computer or a program with which you have received it and the more you do not need to know the passwords to these devices. The private key is all you need, you will only need to import the private key into a new bitcoin wallet and your bitcoins will be available to you again for translation.

For more secure storage of private keys, there are special protected from water, fire, radiation devices, for example, Billfodl.

The storage of a private key from the Bitcoin electronic wallet on media not connected to the Internet can be called the most secure way of storage. Use this method of storing bitcoins is recommended if you do not plan any operations with your bitcoins for a long time. With the active use of crypto currency this method is clearly not suitable for you.

Hardware bitcoin wallets

As we have already mentioned, this is one of the most reliable way to store your bitcoins, but it is also the most expensive way. on some modern well-protected models of hardware wallets the price can reach up to $ 100 or more

Advantages of hardware bitcoin wallets:

A separate device not connected to the Internet
All data on the wallet is encrypted with a built-in chip
Access to wallet data by pin code
To gain access to the bitcoins stored on the hardware wallet, you first need to get this device and know the pin-code to it, i.e. through the Internet, hacking bitcoins with such purses is completely excluded.

List of companies that produce hardware wallets for storage of bitcoin:

It should be noted that some devices other than Bitcoin can store other crypto-currencies.

To find out your address on the hardware wallet, use the instruction to the purchased equipment.

Bitcoin wallet on a computer or laptop

For computers, there are two types of bitcoin wallet:

• A full-fledged client (Bitcoin Core) is the main program for working with the Bitcoin network, supports all available functionality. To work, you need to download a large (about 200GB) blockchain, which can take more than a month. It is used mainly for professional use on mining pools, exchanges and other services and for long-term storage of bitcoins.
• Light clients — developed programs based on Bitcoin Core specifically to simplify the work with Bitcoin, which do not require a long download of the network and have a simple user interface. If you are not going to engage in bitcoin professionally, we recommend you to choose one of the options for light wallets.

The most famous of the light wallets are Bither and Electrum, existing under all types of operating systems (Windows, Linux, Mac OS). You can also choose any purse from the list on the Bitcoin.org website.

There are also multi-currency wallets, where except Bitcoin you can store other crypto-currencies, but such solutions are usually less secure.

Bitcoin wallet for mobile phones (Android, iOS)

For mobile devices, there are two options, this is a full-fledged application similar to the light wallets on computers and applications linked to WEB wallets, i.e. bitcoins in the second case will be stored on a third-party server, not on your mobile phone.

The most popular programs for smartphones:

As well as for personal computers, for mobile devices there are multicurrency software solutions that allow storing several crypto-currencies in one application.

We do not recommend storing large amounts on mobile wallets, because mobile phones are more likely to be hacked, stolen or lost.

Bitcoin WEB Wallets

Bitcoin WEB wallets are probably the most convenient way to store your crypto currency, but because of the high number of risks of their theft, this method is not suitable for long-term storage of a significant number of bitcoins.

If you are just starting to learn crypto currency and do not plan to store large amounts in crypto currency, we recommend that you choose the WEB purse. The most popular now is the site blockchain.com.

To receive your crypto-currency wallet, click on the button «GET A FREE WALLET». The further registration procedure will differ little from the standard one, unless you forget to include two-factor authentication at registration. This will allow you to maximally protect your savings in the crypto currency.

With the help of Blockchain.com you can create three wallets for bitcoin, ethereum and bitcoin cache. Also, this service offers to install their applications on mobile phones for more convenient access to your savings.

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Where is bitcoin wallet

Creating a Bitcoin wallet is as easy as installing software on your mobile device or laptop/desktop.

When you install the app, your Bitcoin wallet is automatically created. You can then receive bitcoin to your wallet immediately, store it safely, and use it as you please.

Table of Contents

1. Which Bitcoin wallet should I choose?
2. Software wallets: convenient buying, selling, storing, trading, and using
3. Hardware wallets: long-term storage for larger amounts of bitcoin
4. Web wallets (AKA cryptocurrency exchanges): convenient buying, selling, and trading
5. Paper wallets: alternative to hardware wallets, unique method for gifting bitcoin

Which Bitcoin wallet should I choose?

There are a number of wallet apps on the market from a variety of vendors and with different features to choose from. We welcome you to try the Bitcoin.com Wallet, the fully non-custodial crypto wallet trusted by millions.

The Bitcoin.com Wallet is what’s known as a ‘software wallet‘. It provides an excellent combination of security and ease-of-use. Depending on how you’re using your bitcoin though, you may want to consider another wallet type. Here’s a rundown on the different types of Bitcoin wallets and their respective pros & cons:

Software wallets: convenient buying, selling, storing, trading, and using

• Software wallets take the form of an app which is downloaded for free to your phone or desktop. You simply open up the app and can make Bitcoin transactions in an instant.
• Since software wallets are connected to the Internet, there’s a small risk of hacking. Therefore, it is recommended to not store large amounts of bitcoin in your software wallet.
• While there have been a few isolated cases of software wallets being hacked, by far the greater risk is that you lose your ‘private key,’ which is like the password to your wallet. Therefore, it’s critical to backup your wallet and adhere to password management best practices.

Tip: Make sure the software wallet you’re using is fully non-custodial like the Bitcoin.com Wallet, meaning only you can access your coins — not the wallet provider. This protects you from the risk of fraud or bankruptcy by the wallet provider.

Hardware wallets: long-term storage for larger amounts of bitcoin

• Hardware wallets, also known as cold wallets, are physical devices created specifically for the purpose of storing cryptocurrencies. They offer the best security for your digital assets because they insulate you from the Internet, making it effectively impossible for hackers to infiltrate your wallet.
• Since they take more time to access, hardware wallets aren’t ideal for making frequent Bitcoin transactions. Use them for long-term storage instead.
• As with software wallets, you need to back up your private key and adhere to password management best practices.

Tip:В Hardware wallets are well worth the money — especially if you own a lot of bitcoin. To make sure the device isn’t compromised, only buy one from a company you can trust.

Web wallets (AKA cryptocurrency exchanges): convenient buying, selling, and trading

• Centralized cryptocurrency exchanges are a popular place for many newcomers to buy their first bitcoin because they make the buying process very simple. It’s like opening a trading account.
• However, the cryptocurrency exchange itself retains control over the funds in your account. Not only does this expose you to the risk of the exchange getting hacked or going bankrupt, it also means you have to ask for permission to withdraw your bitcoin, wait longer to withdraw, and usually pay higher transaction fees for withdrawals.
• We recommend using cryptocurrency exchanges only for trading (not for storing your bitcoin).

Tip:В Cryptocurrency exchanges are not a secure place to store digital assets. Once you’ve bought your bitcoin, you’re advised to move it to your software or hardware wallet if you don’t plan on trading it immediately.

You can start your trading journey today with the Bitcoin.com Exchange.

Paper wallets: alternative to hardware wallets, unique method for gifting bitcoin

Paper wallets are created by downloading a software package, then running the software (for security, preferably in an offline environment) to generate a public/private key pair which you print out on a piece of paper. Having created a paper wallet, you can send any amount of bitcoin to the wallet address. To spend it, you use the private key written on the paper to sign the spend transaction.

Like hardware wallets, paper wallets allow you to store bitcoin completely offline. This makes them a lower-cost alternative to hardware wallets.

Since the public/private key pair is written on the paper, handing over the paper to another person is similar to handing over a cash note. This makes paper wallets a novel way to exchange bitcoin face-to-face.

You can create your own Bitcoin Cash paper wallets at Paperwallet.bitcoin.com.

Buy as little as $30 worth to get started

Choose from Bitcoin, Bitcoin Cash, Ethereum, and more

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