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BTC wallets are numerous and are not limited to a few variants. There are a few types of them.

Up to date, there are five types of wallets – a web (or online) wallet, mobile wallet (installed onto a phone), desktop wallet (installed onto a computer or laptop), paper wallet and hardware wallet. We will tell you about each of them so that you would better understand what they are designed for and what you want to use them. For example, if you want to store huge amounts of cryptocurrency, it is better to choose a hardware wallet or if you need to make transactions, the best Bitcoin wallets for such purposes would be Trustee or Blockchain.info.

  • Hardware wallet

Such hardware wallets as Trezor, Keepkey, and Ledger Nano S are considered to be among the best crypto wallets. They offer user-friendly access to Bitcoin and a high level of security as private key are stored only inside the wallets’ memory. Even though such coin wallets may cost you 60 or even 100 dollars, they are considered to be the best bitcoin wallets. Transactions are resistant to any hacker attacks. Such a Bitcoin wallet is designed to receive and store coins. As soon as you get a transaction, you can transfer them to any other virtual wallet with easy access, while the main assets will remain in a highly-secure hardware wallet.

  • Desktop wallets

A light bitcoin wallet is a wallet that does not require you to download and store the whole blockchain locally. All the data is accessed on the server and is easily managed from a laptop or even a table. They are characterized by high performance and ease-of-use. However, there is only one single drawback. Every check is performed by a third party which undermines the overall security.

A heavy virtual wallet requires the download of the whole blockchain and its local storage. Such coin wallet is called Bitcoin Core. By its nature, a heavy wallet is the full node of a blockchain which not only allows you to control your access but also to allocate computing power to support the work of blockchain.

Desktop virtual wallets are lightweight and can be installed in mere minutes. This is client software that does not require the whole blockchain to be stored locally. Such a cryptocurrency wallet will allow you to create Bitcoin addresses and make transactions. Such wallets interact with the Bitcoin blockchain not directly, like heavy wallets, but through a program on developers’ servers. Therefore, such a crypto wallet is considered to be less secure but much easier to use. The list of such lightweight desktop wallets includes many names and the best Bitcoin wallets of this type are Electrum, Exodus, and Jaxx.

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timeii afina
02.02.2020 (232 Days Ago)
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What Types of BTC Wallets are Available to Users?