Which Bitcoin Wallet Is Right For You?
Once you decide to ride the innovative wave that is Bitcoin and dive into the deep end of the cryptocurrency world, there are a few decisions you have to make in order to guarantee success. One of these decisions is to select the very best Bitcoin wallet to store and secure your cryptocurrencies. Much like walking into a store and cruising the cereal aisle, you have to decide which of the many available crypto options suit your tastes. And like all those colorful cereal boxes, the virtual wallet aisle contains hundreds of different pictures and promises. But which one is going to be best for you? Which wallet is going to suit your needs without leaving a bad taste in your mouth?
A crucial step in choosing the correct wallet is to take stock of exactly what you want to achieve with your Bitcoin wallet. The answers to this question will help you select the best Bitcoin wallet without leaving you overwhelmed.
Are you an absolute freelancer that just needs a safe wallet to keep your crypto savings? If you’re looking to amass cryptocurrency in one place and not trade it, Trezor is a very viable option for you. Trezor is a physical device (something you can hold and touch), which is a feature that has its pros and cons. Although it doesn’t have the ease of use like a mobile app, it keeps you almost impenetrable from hackers—a very real concern in the crypto world. Trezor will not only store your Bitcoin safely, but it also supports over 1000 other cryptocurrencies, all in one incredibly safe place. Think of it as the simple cereal recipe that satisfies your appetite, without the need for a bunch of added artificial flavors and sugars. It meets your basic needs and that’s about it. This device is a perfect option to bring along on your trip to the Cryptopulco event because you can stow it securely in the lockbox of your hotel room and never worry about it being hacked. As long as the device is not plugged into a compatible connected device, it’s essentially “off the grid”. The initial investment starts at around 55 USD using GoPay. There is also an option to use your existing Bitcoins through Confirmo or GloBee to purchase other cryptocurrencies that are already backing out of federal reserve backed currency.
Delving deeper into the pool of nonphysical wallets, you’ll find the bitcoin wallet by bitcoin.com – a secure phone-based wallet that allows you to purchase bitcoin and bitcoin cash with your credit card. You simply download the wallet application to your android or apple device and begin your crypto journey by following the prompts. You can also browse a directory of online stores that accept cryptocurrencies across the globe.
Next up, BitPay, one of the most widely used wallets that also includes a desktop option. This option will give you mobile access from anywhere, with the app available on all platforms from desktop to tablet. BitPay is one of the most commonly accepted ways to purchase goods and services with Bitcoin and is gaining momentum as more people hop on board. This wallet is secure, with good protection against malware when used in areas where security is questionable. Take a little extra time to set up solid recovery phrases to make this an even more secure app. Even the Libertarian Party accepts donations via this service. Click here to visit their donation page. With over 500,000 downloads on Google Play, it is among the top-rated Bitcoin wallets available on Android devices. This is going to be like your wheat-based cereal with a sugar coating, it does the job very well, but with a few added features.
If you’re looking for something a little more advanced, that you can play around with and that allows you to trade between cryptocurrencies as the markets change, Coinbase is for you. You can obsess over the market graphs and change where you invest from hour to hour for a small transfer fee. Initial set up is a little bit tedious, however, the extra security makes you feel incredibly safe doing your crypto-transactions over their app or website. Be prepared with your photo ID, without which you may not open an account,—a real hindrance to the hardcore anti-rulers who don’t believe in an ID-based society. Coinbase does have a very basic wallet option for storage, which offers the same features as Trezor, but on a mobile platform. In the cereal world, this would be like the sugary marshmallow cereal that has fiber, protein and is sweet as can be.
Is there something that you’re wanting out of a Bitcoin wallet that isn’t covered in this article? Consider taking a tropical vacation to Acapulco to attend Cryptocpulco. Immerse yourself in information galore and the wisdom of the speakers on the Crypto stage. All attendees of Anarchapulo will be able to capitalize on the sage advice and experiences the speakers on the Cryptopulco stage have to offer. Click here to view the full line up or here to purchase your tickets today using your Bitcoin or that other stuff they call “money”.