A Bitcoin Wallet wallet, or electronic wallet, refers to the storage solution for the crypto-currencies (Bitcoin, Ethereum, Ripple, etc.) that you have in your possession. Since digital currencies are not tangible, it is not possible to store them in your wallet and put them in your pocket.
Wallets are secure solutions that allow you to manage your crypto-currencies in peace. There is a wide variety of wallets offered on the market and each has its advantages and disadvantages. We have dedicated this guide to introduce you to the Bitcoin wallet in all its forms. Discover everything you need to know about these electronic wallets as well as the top 10 of the best wallets of the moment.
Bitcoin Wallet: a Mobile Wallet with Decentralized Management
Bitcoin Wallet is a mobile Bitcoin wallet available on Android and iOS. It is an open-source application and accessible to everyone. This Bitcoin wallet is decentralized and works without registration. It also guarantees the security of your possessions and the confidentiality of user data. With Bitcoin Wallet, cryptocurrency/real currency conversions are also possible.
Supported Crypto Currencies
As the name suggests, Bitcoin Wallet only supports Bitcoins at the moment. Transactions can be made by Bitcoin URL, NFC, or QR codes.
Advantages of Bitcoin Wallet
- Ease of use
- Possibility to pay by Bluetooth
- Tool to track the available balance
- Decentralized system
- Open-source app
- Secure platform and fast operations
- Cryptocurrency supported only Bitcoin
- Seemingly slow transactions according to users
To trade cryptos before storing them, you can go through the eToro trading site. This broker offers around twenty promising cryptocurrencies.
Trezor Model T: A Multifunctional Bitcoin and Crypto Wallet
The Trezor Model T is a hardware cryptocurrency wallet on which it is possible to store several types of data, including digital currencies or digital keys and passwords. The dimensions of this device designed by SatoshiLabs are 64 x 39 x 10 mm for a weight of about 15 g.
The tool is also equipped with a touch screen thanks to which you can manage the content and validate the actions. Its configuration is also easy and it is compatible with Windows, Linux, and macOS systems. You also need to have up-to-date versions of Mozilla Firefox or Google Chrome.
Supported Cryptocurrencies Trezor Model T
The Trezor Model T wallet supports more than 1,000 cryptocurrencies, including the most popular such as Ripple, Ethereum, Litecoin, Stellar, Monero, or Tezos. The device also supports some currencies.
What is the price of the Trezor Model T?
The Trezor Model T cryptocurrency wallet is sold for €159 on the official Trezor website. This device is also available from other retailers but at more or less high prices. However, we recommend that you turn to the official store to guarantee the authenticity of the product.
- Ease of use
- More than 1,000 cryptocurrencies supported
- Ability to store real currencies and digital keys
- Ergonomic sizes
- Device compatible with Windows, Linux, and Mac
- Reliable security system
- Incompatibility with Android and iOS mobile systems
- Rather a high cost
Keepkey: The Most Elegant
Launched in 2015, KeepKey is a hardware wallet supposed to compete with the Ledger Nano S or the Trezor One. This is a device with a large screen to optimize user comfort. Its design is also more refined and innovative, which makes it a very popular model for the most demanding in terms of aesthetics.
Keepkey allows you to store more than fifty crypto-currencies, including the most popular such as Bitcoin or Ethereum. Its use requires the prior installation of 2 applications which will allow you to connect your KeepKey to your computer and manage the wallet on it.
In terms of security, KeepKey is protected by many devices, such as a PIN code, a recovery key, and a restore option called “Recovery Cipher”. It is possible to use KeepKey on a virus-infected computer without compromising the integrity of the wallet and its data.
Here are the main features of the KeepKey:
- Designer: ShapeShift
- Connectivity: via USB cable from a computer
- Compatibility: Windows, Linux, iOS, Android.
The KeepKey wallet supports more than fifty cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
The benefits of using KeepKey are:
- A neat design and a refined aesthetic
- Large screen for better menu visibility
- Highly advanced safety devices
- Many virtual currencies are supported.
- Quite a bulky terminal, therefore cumbersome.
What Types of Crypto Wallets Are There?
Digital wallets can be classified into 2 main categories, which are divided into several subcategories. Among these 2 categories, there are, in particular, cold wallets and hot wallets. What is the best type of Bitcoin Wallet? It all depends on your needs and priorities.
The Cold Wallet:
A cold wallet is a crypto wallet whose virtual currency storage mode is offline. There are several subcategories of cold wallet.
These are physical or material storage methods that help secure your cryptocurrencies. Mainly, encrypted USB keys are used as hardware wallets. Easily transportable, USB keys only require a connection to your computer so that you can access your Bitcoins and other digital currencies.
Encrypted USB keys are an excellent solution against hacking attempts. However, the price of these special devices is relatively expensive.
This type of wallet is more suitable for those who wish to secure their cryptocurrencies as much as possible without making frequent exchanges.
To obtain your cryptos, you will first have to go through a trading site, such as eToro. The latter offers an intuitive platform and puts everything in place to help beginners trade cryptos with confidence.
What is a Bitcoin Wallet or Bitcoin Wallet?
A Bitcoin wallet is similar to a digital bank account. It offers the ability to receive, send and store your bitcoins. Having a wallet is essential when you want to trade cryptocurrencies.
How Does a Bitcoin Wallet Work?
Generally, a Bitcoin wallet consists of 2 parts called encryption keys, namely a public key and a private key.
The public key can be shared publicly. It can be considered as an electronic address, that is to say, visible and consultable by others. The private key, which must only be known by the holder of the wallet, can be considered a password.
Additional Functions of the Bitcoin Wallet
The 2 keys work in a complementary way: one is used to encrypt operations on crypto-currencies, while the second is used to decrypt them. When the 2 keys are combined, it generates a digital signature, a kind of cryptography that proves the ownership of the wallet to a single person: the holder of the private key.
This is why it is essential to secure it. Any other person who holds this key can also become the owner of the wallet, has access to its content, and can manage your crypto-currencies.
BitBox02: The Most Robust Bitcoin Wallet
BitBox02 is like a USB key for storing crypto-currencies safely. Manufactured by the Swiss company Shift CryptoSecurity, the terminal comes in 2 versions: the one intended only for Bitcoin and the one that supports multiple crypto-currencies.
The BitBox02 encrypted key is renowned for its robustness. Made entirely of polycarbonate material, it has no buttons and its shell is ultra-compact. Its design is elegant and minimalist. A dedicated slot for a micro SD card allows data to be backed up regularly.
Being a high-end device, the BitBox02 is equipped with touch sensors that allow simple and precise gestures: press, hold, and slide. The device connects to your computer or smartphone via a USB-C port. However, a USB-C to USB-A adapter comes with the key.
Features of BitBox02:
Its main characteristics are:
- Dimensions: 54.5 x 25.4 x 9.6mm
- Manufacturer: Shift CryptoSecurity
- Connectivity: USB-C/USB-A port
- Compatibility: Windows, Linux, iOS, Android.
BitBoxO2 supports many cryptocurrencies, over 1,500 in total. You can store Bitcoin, Litecoin, Ethereum, and many other virtual currencies there.
Here are the main advantages of the BitBox02:
- Manufacturer renowned for creating safe and reliable products
- Easily configurable wallet
- Easy-to-use BitBox app
- Highly secure wallet
- Possibility of saving thanks to the micro SD card.
The disadvantages identified with the BitBox02 are as follows:
- Relatively small screen size
Open a Bitcoin Wallet on Leger Wallet
To create a Ledger wallet, you must, first of all, register on the platform.
1 – Go to the Ledger Site:
To create your Ledger wallet, go to its official website. Once on the home page, click on the “Products” menu to choose your wallet.
Start using this Bitcoin Wallet
It’s good, you can start using your Bitcoin wallet now, to store all your cryptos. For any additional information, you can refer to their FAQ on their site, which includes a large selection of tutorials and detailed explanations.
It will be necessary, remember, first to obtain cryptos via a trading site. On eToro, there are more than 20 currencies that you can trade with ease.
How to Open a Bitcoin Wallet on Coinbase Wallet?
We have seen previously that Coinbase Wallet is one of the most secure online cryptocurrency wallets of the moment. So how do you get a Bitcoin wallet on this platform? We present you with a complete tutorial.
Step 1: Go to the site and download the app
If you are on a computer, first access the Coinbase Wallet site. Then click on the blue “ Get it Now ” button at the top right.
The site asks if you want to download the app through Google Play or AppStore. Choose according to the mobile device you have.
Step 2: Install the app
In this guide, we have opted for Google Play. Just click the green “Install” button to get the app. You must then confirm your email address and password to activate the download.
The platform then informs you that Coinbase Wallet is being installed. Press “OK” to confirm. The application is directly installed on the phone linked to your Google Play account.
Choosing The Crypto Currency:
The list of available cryptocurrencies then appears. Simply scroll to find the digital currency you are interested in or type the symbol or name directly into the search bar to be faster. Besides Bitcoin, you can buy Ethereum, another virtual currency benchmark.
It all depends on your goals and preferences. Note that you can also opt for another crypto and buy XRP for example.
All you have to do is share your address (QR code or username) to receive the cryptocurrency.
To trade cryptos before storing them, Libertex and eToro are as we have already said an optimal solution.
The Crypto-Currencies Supported By The Wallet
There is an incalculable choice of cryptocurrencies that you can trade today. Please note that the chosen digital wallet takes into account a maximum of different virtual currencies so as not to limit your possibilities.
There are, in fact, wallets that only take Bitcoin into account. If you want to diversify your investment, it is better to opt for a portfolio richer in options. You can then mine it, whether you choose Bitcoin or decide to buy Monero or another crypto.
The Level of Security Offered by the Bitcoin Wallet
By trading in crypto-currencies, you put your real money at stake. The storage of your digital currencies (Bitcoin, Polkadot, or other…) must be as secure as possible to avoid any unpleasant surprises.
Indeed, hackers and other malicious people are increasingly interested in wallets. By choosing a wallet that does not guarantee maximum security for your data and cryptocurrencies, you can lose part or all of your assets in a short time.
To determine the level of security of a digital wallet, check the complexity of the password required to access your currencies, the 2-step profile verification is also recommended to authenticate your account as much as possible.
In the end, there are a wide variety of wallets that you can use to store your cryptocurrencies. If hardware wallets remain the most reliable and secure solution, online wallets are, on the other hand, more practical and less cumbersome.
If you decide to opt for the second option, we strongly advise you to choose Ledger Wallet which is a reliable choice. The reputation of the platform and its popularity are enough to have an overview of the quality of its digital portfolio.
However, you must always make sure to choose a reliable platform to trade your cryptos. eToro is a very interesting option in this respect. In addition, thanks to its extensive catalog of virtual currencies, you can diversify your investment and not focus only on Bitcoins.