Okay, now that BTC is gaining monumental traction and unprecedented growth, it's about time to re-echo and talk on the security of your coins.
POINT BLANK: YOU'RE SOLELY RESPONSIBLE FOR THE SECURITY OF YOUR COINS.
Basically, there are five types of Bitcoin wallets. We have the: Desktop, Mobile, Online, Hardware and Paper Wallets.
I'll talk on the most secure wallets.
Bitcoin Core (the very first and original BTC wallet is a Desktop wallet).
It is among the MOST secured of them along side Hardware and Paper Wallets.
Moving on, you can't go wrong with HARD WARE wallets because every outgoing transaction must be confirmed by you using the hardware, more or less like your normal token for bank transactions but way more better cos you are not logging into any "account" so there's no chance of your BTC getting hacked.
PAPER WALLETS are the Holy Grail, they are the quintessence of COLD STORAGE wallets. This is like locking away your BTC in a titanium reinforced fortress and throwing the keys into the ocean. Your btc is EXTREMELY safe using this Wallet.
But as the name implies, "Paper Wallet", if your paper gets burnt, torn, destroyed or lost, KNOW that your Bitcoin CANNOT be recovered. It's a one way street of no return.
So you must keep this in mind while opting for this.
If you're an individual or company that has huge amount of BTC and is apprehensive of the best way to store your BTC and not lose sleep,
Hardware and Paper Wallets are your best bet. Or you store using the Bitcoin Core, but you must have a Desktop computer that has spacious hard disk because the Bitcoin Core software comes with data of every Bitcoin transaction ever performed, so we are talking GIGABYTES.
So there you have it.
Popular and Recommended Hardware Wallets are
KeepKey
Trezor
LedgerNano etc
You buy any of these devices and they are shipped to you.
Mobile Wallets such as Mycellium, Wirex, etc are secured too, particularly Mycellium (it is highly recommended), tho if your BTC is huge, I mean like REALLY huge please make no hesitation about using Hardware/Paper Wallets or the Bitcoin Core.
Online wallets are the ones you are already familiar with like blockchain.info, coinbase, paxful, lbc etc. They are safe to an extent (as some of them make use of cold storage/hard ware wallets to store users btc). However, if you want to be the ONLY commander-in-chief of your Bitcoins please use the wallets stated in prior paragraph.
POINT BLANK: YOU'RE SOLELY RESPONSIBLE FOR THE SECURITY OF YOUR COINS.
Basically, there are five types of Bitcoin wallets. We have the: Desktop, Mobile, Online, Hardware and Paper Wallets.
I'll talk on the most secure wallets.
Bitcoin Core (the very first and original BTC wallet is a Desktop wallet).
It is among the MOST secured of them along side Hardware and Paper Wallets.
Moving on, you can't go wrong with HARD WARE wallets because every outgoing transaction must be confirmed by you using the hardware, more or less like your normal token for bank transactions but way more better cos you are not logging into any "account" so there's no chance of your BTC getting hacked.
PAPER WALLETS are the Holy Grail, they are the quintessence of COLD STORAGE wallets. This is like locking away your BTC in a titanium reinforced fortress and throwing the keys into the ocean. Your btc is EXTREMELY safe using this Wallet.
But as the name implies, "Paper Wallet", if your paper gets burnt, torn, destroyed or lost, KNOW that your Bitcoin CANNOT be recovered. It's a one way street of no return.
So you must keep this in mind while opting for this.
If you're an individual or company that has huge amount of BTC and is apprehensive of the best way to store your BTC and not lose sleep,
Hardware and Paper Wallets are your best bet. Or you store using the Bitcoin Core, but you must have a Desktop computer that has spacious hard disk because the Bitcoin Core software comes with data of every Bitcoin transaction ever performed, so we are talking GIGABYTES.
So there you have it.
Popular and Recommended Hardware Wallets are
KeepKey
Trezor
LedgerNano etc
You buy any of these devices and they are shipped to you.
Mobile Wallets such as Mycellium, Wirex, etc are secured too, particularly Mycellium (it is highly recommended), tho if your BTC is huge, I mean like REALLY huge please make no hesitation about using Hardware/Paper Wallets or the Bitcoin Core.
Online wallets are the ones you are already familiar with like blockchain.info, coinbase, paxful, lbc etc. They are safe to an extent (as some of them make use of cold storage/hard ware wallets to store users btc). However, if you want to be the ONLY commander-in-chief of your Bitcoins please use the wallets stated in prior paragraph.
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