What Bitcoin Wallet Is Best to Use
Today Bitcoin is at the TOP of the most expensive assets, where it takes the honourable 12th place. Cryptocurrency capitalization is $ 580 billion. This is a colossal amount of funds that need to be stored somewhere. Choosing the right wallet is a criticсal step that should not be taken thoughtlessly. In this regard, each user asks himself the same question: „What Bitcoin wallet is the best?”
To answer it, you need to understand what type of service you need, you need to understand what they are and what are the advantages.
Moreover, new talented projects appear every day, which get a perfect score for previously well-established clients. Their advantage is that they are responsive to the needs of modern users, working to improve user experience, security, and openness. One of these can be safely called BitMarket Network Client, which is now available to users and interested developers in the alpha version. It is a local open-source client application that currently supports two types of cryptocurrencies: Bitcoin and Litecoin. Soon, the developers will add other crypto-assets, making them multi-currency, and also introduce the function of two-factor authentication. There are the excellent speed of operations and the user-friendly interface among other strengths of the user experience. Therefore, if you plan to store and exchange coins of different types, then this is the ideal option: safe, fast, multifunctional.
To date, the project team is looking for developers and users for feedback and work on improving the wallet.
We mentioned that BitMarket Network Client is a local, multi-currency, cross-platform open-source wallet. To understand why this is good, you should look at the main types of crypto wallets:
Local (Desktop / Mobile) – installed on your device and provide good control over the safety of currency. They are thick, that is, they provide for the independent management of the security of funds, downloading network blocks and monitoring their reliability, as well as thin ones that can be installed on a tablet and mobile, because they weigh much less, due to the fact that most of the information is stored on servers, and only important data – on your device.
There is Electrum among popular thin wallets
It was developed in 2011. Electrum offers a good level of protection and a wide range of features. This wallet is decentralized, which means that it is not connected to one server, which means it always remains reliable and relatively safe. Your private keys will be in an encrypted state, making them harder to crack. Many people call this wallet perfectly balanced in terms of convenience and security.
Internet wallets. They do not connect you to the software and do not oblige you to download all the blocks of the bitcoin network. The security of the wallet is provided by a third-party resource. Such a wallet should be chosen for the first acquaintance with transactions or for storing small amounts.
One such wallet is Coinbase
With it, you can connect a bank account and use dollars to buy bitcoins and other cryptocurrencies. This client is great for people new to altcoins, making the transaction process as easy as possible. Coinbase wallets can contain over 20 cryptocurrencies. One of the main drawbacks is the high commission.
Cold or hardware Bitcoin wallets. This is not a software or a platform, but a separate device that stores the keys from wallets in encrypted form. Visually, it looks like a USB flash drive, which is simply connected to the network if necessary to complete a transaction. This is not very convenient, but it allows you to maximally secure transactions from being monitored by third parties. The disadvantage of such a wallet is that it costs $ 50 and more, so it is impractical to store small amounts on it.
There is a Trezor among the best hardware wallets
This is a device that connects to your computer or smartphone. The device has a small screen that you can use to manage the secure connection. Current models price is between $ 55 and $ 500. Trezor includes multi-factor authentication and supports over 1000 digital coins. The main thing is not to lose the cold wallet or the password from it, otherwise, your bitcoin may disappear forever.
From the information above, it becomes clear that local wallets can be called a universal “the best balance”. It is comfortable, relatively safe, and functional. That is why we prefer to call them the best option for storing your Bitcoins.