Best Bitcoin wallets – 5 Ways to Store Bitcoin More Securely

best bitcoin wallets

When it comes to the security of bitcoins, there are many questions popping up in your mind. Some of them are,

What is the best way to store bitcoins?

Is the wallet I am using is secured?

How I protect my bitcoins for hackers?

If you are also dealing with this types of question, then you are in the right place. In this post, I am listing some of the best and most secured ways to store bitcoins. You can use any of them to store bitcoins securely.

If you don’t know what bitcoins is? and doesn’t know the basics of bitcoins I recommend you to read my earlier post.

I assure you by reading this 5-minute guide you will learn all the basic about bitcoins.

Recommended: What is Bitcoin? A beginner’s guide.

ok! let’s get back to the topic.So what are the best bitcoin wallets to store bitcoins?

There are five basic types of bitcoin wallets listed below

1.  Software Wallets

2. Hardware Wallet

3. Mobile Wallets

4. Hosted Online or Cloud Wallet

5. Paper Wallets

Let’s dig deeper and see how you can use the above-listed wallets to store bitcoins.

 

1. Software Wallets

Software wallets are the wallets which you can use it on PC like any other software.There are many of software wallets are now available. You just need to download it and install in your PC, whatever OS you’re using, they are available for all.

Some of the key features of the software wallet

–  Complete control on wallet and fully

–  Physically stored on your hard drive

Note: – Make sure to back up your wallet. If you ever loose the pass key, you will never get access to your wallet.

Some of the most used software wallets are

* Bitcoin core

* Armory

* Electrum

* Copay

* Arcbit

* MultibitHD

* Green Address

2. Hardware Wallet

Hardware wallets are like small computer or portable wallets which we can keep with us all the time. It is the safest way to store bitcoins. They are easily available on sites like amazon, ebay, etc. They comes in the price range of $50 to $300 but thrust me they worth it.

If you are storing large number of bitcoin I recommend you to go with hardware wallet as it is the safest way to store bitcoins,

Some of popular harware wallets

*  TREZOR The Bitcoin Safe

* Pi Wallet – Cold storage

* Ledger Hw

* Ledger Nano

* Keepkey

* BWallet TREZOR

3. Mobile Wallets

Mobile wallets are one of the best ways to store bitcoins as you can keep mobile always with you. The mobile wallets are user-friendly, easy to use and you can keep it with you all the time.

The disadvantage of mobile wallets are

– Third party risks- Not anonymous

– Not anonymous

So I recommend you to save the small amount of bitcoin in the mobile wallets.

Some of the most used bitcoin wallets are

* Mycelium

* Copay

* SChildbach Bitcoin Wallet

* Blockchain Wallet

* Electrum Bitcoin Wallet

* Coinbase Bitcoin Wallet

4.Hosted online or cloud storage

Hosting online means you can store your bitcoins on some sites or on cloud hostings. The good thing about hosted wallet is that they are accessible from anywhere as they are hosted online.

– They are easily accessible from anywhere

– Also, you can buy, sell or exchange bitcoins fastly through this sites

– But there also a risk of hackers, as they hosted online your security can be breached if the websites is hacked.

Some of the most popular websites to store your bitcoins online

– Coinbase

– Blockchain

– Copay

– Green Address

– Xapo

– Bitgo

– Ledger Wallet

– Keepkey

5. Paper Wallet (Most Secured way)

This is the most secure way to store your bitcoins. Paper wallet means you can store bitcoins in any piece of paper. So how can you store bitcoin on the piece of paper.

To use paper wallet you have to generate public and private key and print it on paper.

Public Key: – It is key that is use to receive bitcoin. Sender needs this address to send bitcoins.

Private Key: – It is a secret key which is used to access your bitcoin wallet. Sharing this key means you are giving the authority to the person to access your wallet and send bitcoins from it.

So be aware and don’t share the private key with anyone.

Simply if you stored X amount of bitcoin in the XX address and printed the XX address and private key of that address on the paper. The paper worth of the X amount of bitcoins.

But Remember one thing if you lost your paper where the public and private key is printed, there is no way to get it back. So make the backup of the key and store it where you remember. generate

How to generate Public and private key

There are lots of website from where you can generate Public and private key.

Some of them are

So I had listed the best bitcoin wallets to store bitcoins securely. If you have any query or suggestion let me know in the comments.

Want to earn bitcoins read the guide  “5 Ways to earn bitcoins”

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