Don't know what a Bitcoin wallet is? What is Bitcoin Wallet? Which wallet is good? Which wallet is reputable and safe? Then this post is just for you!
Okayyy… Now let's find out with Blogtienao!
What is a Bitcoin wallet?
Bitcoin Wallet (English: Bitcoin Wallet) is a place where you can store, send, and receive virtual currency BTC.
To put it simply, it's like a regular wallet we use. But instead of holding paper money, coins or polymers, Bitcoin wallets contain private keys.
What is a private key?
A private key or private key is a secret data that you can access cryptocurrency wallet. In the case of Bitcoin coins then you can access the Bitcoin Wallet.
If the Bitcoin wallet is said to be a safe, the private key is the safe code that helps you open it. Therefore, you must keep your private key carefully and do not disclose it to anyone else.
If someone else learns of your private key, you may have your BTC stolen.
Why need a Bitcoin wallet?
A good saying mentioned by the community "Not your keys, not your BitcoinIn a nutshell, when you don't keep your private key, that Bitcoin doesn't belong to you.
So when you store bitcoins on exchanges, that BTC is not yours. You will lose everything if the exchange goes down.
There have been many cases in the past Bitcoin floor collapse Therefore, using a Bitcoin wallet is essential.
Ad Where to Store Bitcoins?
The safest thing is that you store it on your own wallets of reputable international 3rd parties. There are many types that perhaps BTA will introduce below, you can read slowly.
As for the ad, if you keep it for a long time, keep it cold wallet, it's a bit complicated for newbies but it's safe. At least, the individual Ad stores for 1-3 years, then feels it is safe.
However, there are many other options below (updated 2020-2021)
List of Top 9 Best Bitcoin Wallets 2020-2021
Trust Wallet – Emerging Wallet
Trust Wallet just appeared at the end of 2019, but won the hearts of many Vietnamese people because it is owned by Binance.
Do not confuse this Trustwallet wallet with a trust exchange (trust exchange is a scam exchange, there is also a wallet called trust wallet).
If you want to be sure, read our editors' review from Blogtienao to make sure you're using the right product.
Card-looking: What is Trust Wallet?
This trust wallet is free to use, friendly, and the sending fee is also cheap.
Atoken Wallet – Multi-Purpose Wallet
BTA also just had a video review for this token wallet. Although they have just been born, they aim for convenience and integrate a lot of interesting features.
In addition to storing, you can Staking on the wallet as well as SWAP at a very low cost. There are many Airdrops happening and you can login to your wallet every day to participate.
See details here: What is AToken Wallet? Instructions for using AToken wallet from AZ
Coinbase: Best Overall Wallet
Coinbase is one of the easiest places to buy, sell, and hold crypto if you live in the US or Europe.
In Vietnam, it has recently appeared that they often block Vietnamese accounts. so Ad is also apprehensive about this and you consider it.
They block maybe because of their legal policy, not because they are weak. Coinbase is an American company so it is more secure than many other wallets. But since it doesn't support Vietnamese people, I should limit it.
With Coinbase, you can connect to a US bank account and easily deposit USD to buy Bitcoin or withdraw USD to your bank account (note only USA bank).
While Coinbase's big advantage is that it's easy to see and use, and extremely secure, it will give you more peace of mind when storing your bitcoins here.
If you want to use Coinbase wallet, you can read detailed instructions in this article
- What is Coinbase? Instructions on how to create and use Bitcoin, Ethereum, Bitcoin Cash, Litecoin wallets on Coinbase
Ledger Nano S: The Best Bitcoin Cold Wallet
Ledger Nano S is a USB sized cold wallet (as pictured above), with a metal housing for durability. The design is simple and compact, and it has a very easy to use interface.
The device works through Ledger Live, a desktop application that allows interaction with the device. Blogtienao has a specific article about this cold wallet
- See more : Ledger Nano Bitcoin Cold Wallet WILL
According to the latest update, Ledger Nano S supports more than 1.100 different Coins and Tokens including Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, Dogecoin, Zcash, Dash, as well as many tokens ERC-20.
Nano S can interact with online wallets such as MyEtherWallet, Mycelium and Electrum.
In the tutorial about Ledger Nano S, Blogtienao has mentioned in detail about safety, but always convenient Blog will repeat.
The special feature of Ledger Nano S is that it is the cheapest among hardware wallet devices, supports many coins and is very safe from hackers.
Since physical nodes must be used for any transaction to be made, and it has anti-forgery feature that checks the integrity of the hardware wallet every time it is enabled.
Each transaction will have to be confirmed through the push of a button on the USB, very safe. And if you have a need to buy a cold wallet, buy it here (original price)
Trezor: Good Secure Bitcoin Wallet
Trezor is not a full-fledged buying and selling platform like Coinbase. Instead, it is simply a place to store your Bitcoins.
Trezor is a physical device that plugs into your computer, tablet or phone to access your funds.
Trezor Wallet works with multiple currencies and acts as a password manager, two-factor authentication device and other useful features.
This wallet offers some protection against lost passwords and lost devices, but you should learn from the sad lessons of others and make sure that never, ever happens.
The special feature of this digital Bitcoin wallet is to keep others from stealing your Bitcoins.
So this is a best choice for security if you intend to store btc for a long time (buried for posterity haha)
- Instructions for installing and using Trezor wallet – Hardware wallet that stores Bitcoin, Ethereum, BCH, ZEC, ETC, DASH, LTC and Altcoin
Electrum: Desktop Standard Bitcoin Wallet
Electrum is a software wallet, which means your Bitcoins are stored in a set of files on your laptop or desktop computer.
It is currently available for Windows, Mac OS X, Linux, and Android. Electrum can work with several physical wallets and has some flexibility compared to just using a hardware wallet like Trezor.
The big benefit is that you can quickly get up and running and store your Bitcoins on your own computer.
But if your computer crashes, is lost in a house fire, or ends up being hacked or damaged, you could lose your money if you haven't backed up.
This application aids the recovery process and allows you to create a physical “cold memory” using a printed or handwritten key set.
Blockchain.Com: The Best Online Bitcoin Wallet
Blockchain is the technology that allows Bitcoin and other digital currencies to exist. Expect to hear more about Blockchain beyond the digital currency world.
Blockchain.com is an online wallet, but you cannot buy or sell directly through the Blockchain, which means storing your Bitcoins is separate from your Bitcoin marketplace.
Because it is not a platform like an exchange, it is considered safer than Coinbase, where you can bet that the bad guys are constantly trying to hack.
If you are not a “computer person”, it is much easier to use an exchange like Coinbase.
So this Separation gives the blockchain an extra level of security, but also a level of complexity in your Bitcoin usage. But Safety is still the best!
Exodus: Best for Desktop
Exodus is a software wallet like Electrum, but prettier and more intuitive to use. It provides similar benefits for security but looks very different.
Desktop wallets just turn your digital currency, Bitcoin and more, into a portfolio with charts and graphs.
You can exchange coins through the app with ShapeShift exchange integration in addition to storage
(meaning you can exchange bitcoins to other cryptocurrencies via ShapeShift built into Exodus wallet)
There's no account setup, so your money and wallet are just for you. Be careful with that computer and don't let it get infected with a virus.
Exodus includes private key encryption and other useful security tools that will also help you keep your account more secure.
Thanks to the portfolio and graphical view, it is great for any computer storage needs.
- What is Exodus Wallet? Review e-wallets storing BTC, ETH, LTC, DASH, OMG, BCH, ETC,.. Total 15 Altcoins
Mycelium: Best For Mobile
Mycelium is a mobile-only Bitcoin wallet, with Android and iPhone versions.
The Mycelium wallet is a bit more complicated to use than some other Bitcoin wallets. But users should also learn to add experience and knowledge.
There is no Web or desktop interface but many people now use their phone as their primary computer.
That might not be the reason you're scared to try it out. It is very secure, allows anonymity and keeps your Bitcoins in your pocket or pocket pretty much everywhere you go.
Those are the features of Mycelium wallet.
Surely through this article you also know that you also understand what a Bitcoin wallet is and which wallet should you choose?
There are many companies that launch cryptocurrency storage applications and services in general and bitcoin storage in particular. So you will inevitably have too many options.
This article will help you choose which wallet you should use for which situation.
In my own experience, if you trade often, you can leave bitcoin on the floor, if you use a wallet on a computer, you should use an Exodus wallet.
If you use an online wallet, you should use Blockchain Wallet or Coinbase Wallet. Or if you intend to store it for a long time, you can use the Ledger Nano S cold wallet.
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